Savings calculator
Enter your balance, monthly deposit and interest rate. See your savings and the interest year by year.
- Year-by-year
- Quarterly credit, like banks
- Free, no sign-up
Interest is taxable
Savings and deposit interest is added to your income. A deduction covers part of it in the old regime.
Questions people often ask
What is 80TTA?
In the old regime, up to ₹10,000 of savings account interest a year is deducted. Seniors get 80TTB instead: up to ₹50,000, including deposits.
Is it in the new regime?
No. In the new regime all interest is taxable.
How your savings grow
Interest on interest.
- Deposit each month.
- Interest builds on your balance each month.
- It's credited each quarter and starts earning too.
Last reviewed 9 October 2026. The rules in this calculator come from these official sources.
- Reserve Bank of India: deposits and depositors Reserve Bank of India
- Salaried individuals: income and deductions Income Tax Department
Common questions
How do savings accounts pay interest?
Banks work out interest on your daily balance and credit it every quarter, which then earns interest too.
How much will ₹10,000 a month grow to?
With ₹50,000 to start, at 3% for 5 years, about ₹7.06 lakh, of which ₹56,019 is interest.
Is savings interest taxable?
Yes, at your slab rate. In the old regime, 80TTA exempts up to ₹10,000 a year.
Should I keep savings in an RD or FD instead?
For money you won't need soon, deposits usually pay more than a savings account.
How accurate is this?
We use monthly balances; banks use daily balances, so their figure can differ slightly.
