Term Deposit Calculator
- Initial deposit
- Total interest earned
- Tax paid on interest
- Final balance
Welcome to RateCity's Term Deposit section.
Use RateCity’s free online Term Deposit Calculator to calculate the return on your fixed investment.
Get the security of a fixed rate of return. Below are some features to consider which may affect your interest earnings:
Interest Paid – Is your interest paid monthly, quarterly, semi-annually, annually or on maturity? Your final balance at the end of the term can vary depending on the frequency that interest is calculated and calculated into your account. Our term deposit calculator will take into account the frequency of interest payments when a real product is selected from the table.
Nominal and Effective interest rates – How are they calculated? The nominal rate is the advertised interest rate, whereas the effective rate is the potential interest rate including compounding effect of payment frequency based on a 12 month term. The more frequent interest payments are, the higher the effective rate relative to the nominal rate, as regular interest payments are either compounded into the term deposit, or have the ability to be reinvested elsewhere.
The final balance of your term deposit will differ depending on how interest is calculated and paid into your account. Use our term deposit calculator to find a strategy that will maximize your cash flow and nest egg.
Term Deposits Guide
RateCity's Term Deposits Guide provides you with the latest information to assist you with your decision of what Term Deposit account will best suit your investment needs. It also holds a range of useful advice to help make informed decisions.
Looking to invest your money for an extended period or maybe it's only 30 days. Whatever your needs, there are a range of products to compare from. RateCity is here to help you make an informed decision, so why not start today.
Term Deposit Articles
When searching and applying for your Term Deposit, head to our articles section for a range of definitions associated with your next investment. Whether you need to know what a Debenture is or what defines a short-term deposit, the answers are here.
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There are many different ways that term deposit interest is calculated. This is primarily because term deposit accounts can have many different combinations of interest parameters. The first parameter is whether the interest is compounded and when or not at all. Many term deposit accounts do not compound the interest you earn which means you will either receive the interest as a lump sum at the end of the term when it matures, or the interest will be deposited into a nominated account periodically. The second parameter is the time when interest is paid. This is usually either annually, semi-annually, quarterly, monthly, fortnightly, weekly and on maturity.
Shorter term deposit accounts of 12 months or less generally receive interest on maturity. Longer term deposits are dependent on the institution and can vary accordingly. There is also a difference between the periods in which interest is calculated. If you choose a compounding interest rate – when the interest is deposited into the term deposit account at certain intervals throughout the term – you will earn more interest than if it doesn’t compound. Keep these factors in mind when comparing accounts.
Latest Term Deposit NewsMay 07, 2012
Some lottery players don't wish for luck, they make their own. Yet a string of recent "lotto hackers" in North America did not use high-tech gadgetry like the kind found in Hollywood films, but a k...Feb 22, 2012
As lenders loosen the purse strings and house prices take a dive, first-time buyers are more likely to be able to buy than at any time since the credit crunch.Dec 16, 2011
How do you lose $13 billion? Quite easily it would seem, if Australia's "lost" superannuation is anything to go by.
Latest Term Deposit NewsOct 19, 2011
With Australians riding the share market rollercoaster in recent months, many investors have sought alternative investment options. This has seen a spike in cash investments such as term deposits, ...Sep 20, 2011
As cautious investors seek some relief from the trials and tribulations of the share market, banks have been flooded by cash deposits in recent months.Jun 30, 2011
With the wounds of the global financial crisis still fresh, Australians have changed their attitudes to investing and are holding more cash within their portfolios than in the past, according to re...
Latest Term Deposit NewsJun 09, 2011
Australians are saving almost twice as much of their household income than they were five years ago, new research has found. Yet many of us are still not looking to high-yield investment options su...Jun 02, 2011
There's less than a month until the end of the 2011 financial year and come tax time many Australians may receive an unexpected windfall, which if invested correctly could translate into significan...Jun 01, 2011
The unspoken rule of term deposit accounts is that advertised interest rates are often negotiable. Ask for a better deal and an institution will likely respond by bumping up the rate. The only way ...