Financial freedom starts with smart savings
Fixed-term savings for your retirement
A Fixed Term Deposit Account provides a reliable, low-risk way to gradually grow your savings for long-term goals, particularly retirement. Despite offering lower interest rates, the incremental investment can accumulate significant savings over time, making it an attractive option for cautious investors.
Starting retirement planning early is crucial for a secure financial future. This calculator can assist you by estimating the interest you can earn on your savings, giving you a clearer picture of your financial growth. By planning now, you can ensure you’re better prepared for the future and able to achieve your retirement goals.
How to Use the Calculator
Enter the initial deposit amount, select the duration from the dropdown menu, and indicate whether you want the bank to apply a 15% Final Withholding Tax. The calculator computes the interest accrued over the chosen period using compound interest, subtracts the chosen tax rate from the interest earned, and displays the total account balance at maturity.
Rates Per Annum
| TERM | RATE |
|---|---|
| 1 month | 0.50% |
| 3 months | 1.00% |
| 6 months | 1.25% |
| 1 year | 2.00% |
| 2 years | 2.50% |
| 3 years | 2.75% |
| 4 years | 2.25% |
| 5 years | 2.00% |