This Bank Deposit Interest Calculator is an online financial tool specially programmed to calculate the Total Maturity Amount and the Total Interest based on the selection of Monthly, Quarterly, Semi-annually and Annually Compound terms, interest rate and total time period of the deposited money in the Bank
The deposit account is an account at a banking institution. It allows account holder to deposit and withdraw money at any point of time. The money deposited in an account specifies that the money owed by bank will be returned to account holder along with interest and considered as depositor credits. Generally the Banks are used to provide Compound Interest for the money invested by their customers. Compound interest is possibly the most important concept, when it comes to successful long term investing. Where the compound interest is the total amount due at the end of each period calculated and further interest is charged against both the original principal and the interest that was earned during that period. In other words Compound interest arises when interest is added to the principal, so that from that moment on, the interest that has been added also it earns interest. Deposit accounts can be either a current account, savings account, or other type of bank account. When it comes to online calculation, this Bank deposit interest calculator assist you to determine the interest on deposits upon the compounding frequency on which you have deposited your money.