Fixed Deposit Calculator
Calculates interest on a Singapore fixed deposit, which typically pays simple interest at maturity.
Result
- Interest earned
- S$560.00
- Maturity amount
- S$20,560.00
How to use the fixed deposit calculator
- Enter the deposit (S$).
- Enter the interest rate (% a year).
- Enter the tenure (months).
- The results update as you type, or press Calculate.
- Read the interest earned first, then the supporting figures below it.
Formula
Interest = P × rate × months ÷ 12.
Worked example
For example, with these inputs:
- Deposit (S$): 20,000
- Interest rate (% a year): 2.8
- Tenure (months): 12
the calculator returns:
- Interest earned: S$560.00
- Maturity amount: S$20,560.00
Background
Compounding is the reason long-term saving works: returns earn further returns, so the growth curve steepens over time. The same maths works against you with debt, which is why credit card balances at around 27% a year grow quickly if only minimum payments are made.
Cars in Singapore carry costs found almost nowhere else, including the Certificate of Entitlement and the Additional Registration Fee. Loans are capped at 60% or 70% of the price depending on the car's Open Market Value, and the maximum tenure is seven years.
Frequently asked questions
How does the fixed deposit calculator work?
It applies this formula: Interest = P × rate × months ÷ 12.
Is this financial advice?
No. It is a calculation tool. For decisions about loans or investments, compare official offer documents and consider speaking to a licensed adviser.