Enter the actual annual rate quoted by your bank. Singapore bank fixed-deposit rates are usually quoted as % per annum and can change without notice.
This calculator uses a simple pro-rata annual interest estimate. Actual banks may use exact day-count conventions or product-specific rules.
Disclaimer: Estimate only; actual interest may differ due to bank day-count methods, minimum placement requirements, rate tiers, promotional conditions, maturity instructions and premature-withdrawal rules.
Fixed Deposit Calculator Singapore
Use the Fixed Deposit Calculator Singapore to estimate the interest earned and maturity value of a fixed deposit.
Enter your deposit amount, the annual interest rate quoted by the bank and the deposit tenure. You can select months or years as the tenure unit.
The calculator does not provide live bank rates. Always enter the current rate offered for your deposit amount and selected tenure.
How to Use the Fixed Deposit Calculator
Follow these steps:
- Enter the deposit amount in Singapore dollars.
- Enter the fixed deposit rate as a percentage per annum.
- Enter the deposit tenure.
- Select months or years.
- Select Calculate Fixed Deposit.
- Review the estimated interest and maturity amount.
Use the exact rate shown in the bank’s product details. Promotional rates may require a minimum deposit, fresh funds or a particular account type.
Fixed Deposit Interest Formula
This calculator uses a simple pro-rata annual interest estimate.
For a tenure entered in months:
Interest = Deposit amount × Annual rate ÷ 100 × Months ÷ 12
For a tenure entered in years:
Interest = Deposit amount × Annual rate ÷ 100 × Years
The estimated maturity value is:
Maturity value = Deposit amount + Interest
This calculator does not compound the interest during the selected tenure. If you need to model repeated compounding, use the Compound Interest Calculator Singapore.
Fixed Deposit Calculation Example
Suppose you place S$50,000 in a fixed deposit offering 2.50% per annum for six months.
The interest calculation is:
S$50,000 × 2.50% × 6 ÷ 12
Estimated interest = S$625
The maturity calculation is:
S$50,000 + S$625
Estimated maturity value = S$50,625
The bank’s final amount may differ because it may use an exact number of days, a specific day-count method or product-specific rounding rules.
What Does “Per Annum” Mean?
Per annum means per year. A rate of 2.50% p.a. describes the annual rate, not the return for every deposit tenure.
A six-month fixed deposit does not normally earn the full annual interest amount. This calculator adjusts the annual rate according to the selected number of months.
Do not enter 0.025 when the quoted rate is 2.50%. Enter:
2.50
What to Check Before Opening a Fixed Deposit
Compare more than the advertised interest rate. Check:
- Minimum placement amount
- Maximum amount eligible for the promotional rate
- Deposit tenure
- Fresh-funds requirement
- Interest payment date
- Renewal instructions
- Early-withdrawal rules
- Fees or penalties
- Deposit-insurance eligibility
- Whether the rate can change before placement
A regular savings account offers greater access to money but may calculate interest differently. Use the Savings Calculator Singapore to model deposits made over time.
For a general simple-interest estimate outside a fixed-deposit product, visit the Bank Interest Calculator Singapore.
Early Withdrawal and Maturity
A fixed deposit is intended to remain with the bank until its maturity date. Withdrawing early may cause you to receive less interest or no interest. Some products may also impose a fee.
Check what happens at maturity. The bank may:
- Return the principal and interest
- Credit the money to another account
- Renew the principal automatically
- Renew both principal and interest
- Apply the prevailing renewal rate
Do not assume that a promotional rate will continue after automatic renewal.
MoneySense explains the main differences between savings, current and fixed deposit accounts in its official guide to bank accounts.
Fixed Deposit and Inflation
A positive interest amount does not always mean your money gains purchasing power. If inflation is higher than the fixed deposit return, the real value of the money may fall.
Use the Inflation Calculator Singapore to explore how changes in prices may affect purchasing power over time.
Fixed deposits can support short- or medium-term planning, but long-term goals may require a wider plan. The Retirement Calculator Singapore can help estimate a separate retirement target.
Fixed Deposit Compared with Other Assets
A fixed deposit is different from an investment whose price moves daily. The quoted return and maturity period are generally set when the deposit is placed, subject to the bank’s conditions.
Gold prices can rise or fall and do not provide fixed deposit interest. Use the Gold Price Calculator Singapore only for a separate gold-value calculation.
Do not compare products only by their possible return. Consider access to funds, risk, fees, protection and your financial goal.
Tax, GST and Estate Planning
This calculator does not calculate personal income tax or decide how any interest should be reported. Use the Singapore Tax Calculator for a separate general tax estimate, and confirm your actual tax treatment with the relevant authority.
GST calculations for purchases are unrelated to fixed deposit interest. The Singapore Service Charge and GST Calculator is a separate spending tool.
Estate distribution is also outside this calculator. The Faraid Calculator Singapore provides a separate general illustration and is not legal or religious advice.
Visit the Calculator Singapores homepage to explore more financial tools.
Important Disclaimer
This calculator provides an estimate only. It does not offer a fixed deposit, recommend a bank or provide live interest rates.
Actual interest may differ because of the bank’s day-count method, minimum placement, rate tiers, promotion conditions, maturity instructions, rounding and early-withdrawal rules.
Confirm the final rate, interest calculation, deposit protection and product terms directly with the bank before placing funds.
Frequently Asked Questions
Does this calculator show live fixed deposit rates?
No. Enter the actual annual rate currently quoted by your bank.
Does it use simple or compound interest?
It uses a simple pro-rata annual interest estimate. It does not compound interest during the tenure.
Can I enter the tenure in months?
Yes. Select months and enter the number of months.
What happens if I withdraw the deposit early?
You may receive reduced interest or no interest. A fee may also apply. Check the bank’s terms.
Is the maturity value guaranteed?
No. It is an estimate. The bank calculates the official maturity amount under its product rules.
Does the calculator include tax?
No. It only estimates deposit interest and maturity value.
Can the fixed deposit renew automatically?
Some products may renew automatically. Check the maturity instructions and renewal rate with the bank.
Is every fixed deposit insured?
Do not assume so. Coverage depends on the institution, currency, product and applicable Deposit Insurance Scheme rules.