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Interest on savings calculator
kev2009
Posts: 1,117 Forumite
Hi all,
Is anyone away of a interest rate calculator for savings? As the interest rate keeps going up, hard to tell what interest I will make from my accounts and if I'll be under the 1k interest limit or if I'll have to pay tax.
Unfortunately not all my accounts advised me when the new interest rates would apply so I'm unsure when the rates changed.
Thanks
Kev
Is anyone away of a interest rate calculator for savings? As the interest rate keeps going up, hard to tell what interest I will make from my accounts and if I'll be under the 1k interest limit or if I'll have to pay tax.
Unfortunately not all my accounts advised me when the new interest rates would apply so I'm unsure when the rates changed.
Thanks
Kev
0
Comments
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Seconded - a calculator where you can input interest rate changes, as well as include any additional deposits and withdrawals, would be great!1
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I use this one, quite a lot of things you can change to customise it depending on what you are trying to calculate:
https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php1 -
There is one on this site in the savings section. A general savings one, an Isa one and also for Regular Savings0
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Neither the calculatorsite one or the ones on this site allow you to input ad-hoc deposits or withdrawals, or change interest rates during the term of the account, unless I'm reading them wrong.0
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Sounds like Excel's probably your best bet.0
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I’m not sure there is such a thing that can do that. It would be helpful admittedly but all the calculators I’ve seen just assume it’s going to be regular deposits or a lump sum at the beginning .dlevene said:Neither the calculatorsite one or the ones on this site allow you to input ad-hoc deposits or withdrawals, or change interest rates during the term of the account, unless I'm reading them wrong.
a spreadsheet could do it I assume but wouldn’t have a clue how to set it up to do this.0 -
So I spent a couple of hours last night working on a spreadsheet that can do this, and an hour this morning on the phone with a coder friend about an online version. Happy to share more if people are interested!7
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I'm certainly interested
Kev0 -
@dlevene yes please , if you are able to share? ( i still view excel as wizardry, so that wil give away my tech abilities!!)
#33 in 2025's 365x1p challenge - assigning amounts randomly on a daily basis
#23 in make2025in2025
Jan's total :£34.93 (1.72%. Le sigh....)
Feb's total : £57.12 (2.82%)
March's total = £123.81 (6.11%)
April's total = £193.74 (9.56%)
May's total =£276.40 (13.6%)
June's total = £277.93 (13.7%)
July's total = £286.45 (14.14%)
Aug's total = £333.35 (16.48%)
2024 = 365x1p challenge #10 final tally £668.10
i apologise now, i can't type.
Or, my keyboard skills cant keep up with my brain.0 -
Very interested too0
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