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Posted by Felix Okoli on Saturday October 5, 2013 at 13:34:0:

Due to the high number of questions asked about Fixed deposit accounts and interest payable after their tenure, I'd been working on creating an online Fixed deposit calculator that would allow bank customers and my subscribers to do the maths themselves by simply using our online calculator.

I can' be responding to all questions asked about how much one would earn after fixing his money in a bank and so this is a do it your self web page.

Try the tool here

Amount to invest: (How much do you want to invest? At least NGN 100,000?)


Currency:

Naira
Euro
US dollar


Time in Month(s): (For how many months are you investing? e.g. 1 or 12)

1
2
3
4
5
6
7
8
9
10
11
12


Interest rate in percentage: (e.g. 5, 6, 7, 8, 8.5, 9 or 10)

How to use this calculator
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1. Just go to our Fixed deposit calculator
2. Enter the amount you want to invest
Enter the number of months from either 1 to 12 months
3. Enter the interest rate the bank is giving you
4. Click on calculate to estimate your interest receivable

You will then see the results and know how much interest you are likely to receive.

You should also note that some banks charge about 10% on the interest earned on your fixed deposit too. That charge is called a withholding tax and is payable to the Federal government of Nigeria.

The online Fixed deposit calculator is still in beta stage as I just recently launched it. If you have any problems, feel free to leave a comment in this page.

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Comments:

Comments:
Re: Fixed deposit interest calculator Reply by Chikezie on Friday August 12, 2016 at 13:40:30:

very helpful, but can the tenor be in days and not months so i can get a precise interest and not estimates.
Thanks.

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