Savings Account Interest
Daily-balance savings interest estimate using your bank
Key Features & Calculation Guidance
Key features: Daily Balance, Exact Rate, Tax Context. Free, 100% browser-based — no login required.
Frequently Asked Questions
Why did you remove the bank interest-rate comparison?
Savings rates change and some banks use balance slabs. A static list quickly becomes inaccurate. Enter the current rate shown by your bank for your account and balance.
Is savings-account interest taxable?
Savings interest is generally included in taxable income. Depending on your tax regime and taxpayer category, a specific deduction may or may not be available.
What is the old-regime savings-interest deduction?
For eligible non-senior taxpayers, the old-regime deduction for savings-account interest is generally limited to ₹10,000. Resident senior citizens have a broader deposit-interest deduction generally capped at ₹50,000. The calculator shows this only when old-regime mode is selected.
Why use daily closing balance rather than average balance?
Savings-account interest is generally calculated using daily closing balances. Average balance can be useful for a rough estimate but can misstate interest when the account balance changes significantly during the month.
Trending Financial Searches in India
Last updated: 2026-09-04
- Old vs New Tax Regime FY 2026-27 Slabs — Zero tax limit applies up to ₹12.75 Lakhs gross salary under New Regime with ₹75,000 standard deduction.
- Best Personal Loan Interest Rates in 2026-27 — Look for personal loan interest rates starting as low as 8.5% to save more on repayments.
- Top Equity Mutual Funds to Invest in FY 2026-27 — Consider allocating 30% of your portfolio to equity mutual funds that have consistently generated returns above 12% annually for 5 years.
- How to Plan for Retirement in 2026-27 — Aim to save at least 15% of your income annually and invest it in NPS or PPF for a secure retirement.