| Year | Paid in yourself | Interest received | Balance |
|---|---|---|---|
| 1 | €11,200 | €323 | €11,523 |
| 2 | €12,400 | €692 | €13,092 |
| 3 | €13,600 | €1,108 | €14,708 |
| 4 | €14,800 | €1,573 | €16,373 |
| 5 | €16,000 | €2,089 | €18,089 |
| 6 | €17,200 | €2,657 | €19,857 |
| 7 | €18,400 | €3,278 | €21,678 |
| 8 | €19,600 | €3,955 | €23,555 |
| 9 | €20,800 | €4,688 | €25,488 |
| 10 | €22,000 | €5,480 | €27,480 |
Savings interest calculator
What do your savings earn, with compound interest and a fixed monthly deposit? The rate is pre-filled with today's highest instant-access rate; enter your own rate to see the difference.
After 10 years
€27,480
- Paid in yourself
- €22,000
- Interest received
- €5,480
At 1.85%, what a big bank pays now, that is €2,288 less after 10 years.
Compare for your amountPer year
Where do you get that rate?
These accounts pay the most right now. The comparison works promotional rates, maximum amounts and the deposit guarantee through for your amount.
| Bank | Rate | Effective annual rate |
|---|---|---|
| Trade RepublicRente op kassaldo | 3.03% | |
| Klarna BankFlex rekening | 2.66% | |
| Santander Consumer BankSpaarrekening | 2.59% | |
| Raisin RenteBoostSpaarrekening | 2.52% | |
| Scalable CapitalOvernight account (met PRIME+) | 2.51% |
How we calculate
Interest is calculated per month on that month's balance and credited once a year, the way Dutch savings accounts do it. The deposit arrives at the start of the month. From the second year on you also earn interest on the interest of earlier years: compound interest. The calculation assumes one rate for the whole term. For a variable rate that is an assumption; for a fixed-term deposit it is fixed. Tax (box 3) is not included.
Frequently asked questions
How do you calculate savings interest?
Interest per year is your balance times the rate. On €10,000 at 2.5% that is €250. If the money is there for a shorter time you get a proportional part: half of it over six months. Banks calculate interest per day and usually credit it once a year.
What is compound interest?
Interest that has been credited counts towards the next interest calculation. €10,000 at 3% is €10,300 after a year; in the second year you earn interest on €10,300, so €309 instead of €300. Over ten or twenty years that difference adds up.
How much does a higher rate really matter?
On €25,000 one percentage point is €250 a year, and thanks to compound interest around €3,000 after ten years. Because switching savings accounts costs nothing, that difference is easy to get.
Do I pay tax on the interest?
In the Netherlands savings fall in box 3. That tax depends on your total assets and personal situation, not on the interest on one account, which is why it is not part of this calculation.