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Fixed Deposit Calculator

Calculate the interest earned and maturity value of a Singapore dollar fixed deposit.

Inputs

SGD
%
months
Fixed deposit rates are quoted per annum (p.a.); interest is pro-rated for the tenure. Interest from approved banks and finance companies is tax-exempt for individuals in Singapore. Promotional rates often require a minimum amount and fresh funds.

Maturity Value

Principal + interest
S$0

How fixed deposits work

A fixed deposit locks your money for a set tenure at an agreed interest rate. Interest is computed as principal × annual rate × (months ÷ 12). For example, S$50,000 at 3.0% p.a. for 12 months earns S$1,500; for 6 months it earns S$750.

Rates vary by bank, tenure and amount, and promotional rates usually need fresh funds and a minimum sum. Withdrawing early typically means losing some or all interest. For individuals, Singapore does not tax bank deposit interest, so the interest shown is what you keep.

FAQ

Is fixed deposit interest taxed?
No. Interest from approved banks and finance companies in Singapore is tax-exempt for individuals.
What if I withdraw early?
Early withdrawal usually forfeits part or all of the interest, and some banks charge a fee. Check your bank's terms.
Are my deposits insured?
SGD deposits in scheme members are insured by the SDIC up to S$100,000 per depositor per bank.
Is the rate simple or compound?
A single fixed-deposit term pays simple interest for the tenure. Compounding only happens if you renew and roll the interest into a new deposit.