Savings Account Interest Calculator
Yearly interest on your savings balance.
Yearly interest
₹2,700
Per month
₹225
Tax-free up to (80TTA)
₹10,000
How banks calculate it
Interest is calculated on your daily closing balance and credited quarterly or half-yearly. Rates vary from about 2.5% at large banks to 7% at some small finance banks.
Tax
Under the old regime, savings interest up to ₹10,000 a year is deductible under 80TTA (₹50,000 for seniors under 80TTB).
Frequently asked questions
Is money in small banks safe?
Deposits up to ₹5 lakh per bank are insured by DICGC, an RBI subsidiary.
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Results are estimates for planning only. Confirm final figures with your bank or a tax advisor.
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