Deposit calculator

Deposit income after the 23% tax: compounding, top-ups and the effective rate.

UAH
% a year
mo
UAH
Balance at the end of the term
-
Net income
-
Deposited
-
Taxes
-
Effective rate
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How the deposit grows

DepositedNet income
Monthly accruals
MonthAccrued, UAHTaxes, UAHNet income, UAHBalance, UAH

How to use the calculator

  1. Deposit amount: how much you put on deposit.
  2. Rate: the annual rate from the contract, before tax.
  3. Term: the number of months.
  4. Compounding: interest is added to the deposit every month or paid out separately.
  5. Top-up: the amount you add every month, if the deposit allows it.
  6. Tax: leave it on to see the real income. You can turn it off to compare with tax-free instruments such as government bonds.

How the income is calculated

Every month the bank charges interest on the current deposit balance: balance × annual rate / 12. 23% tax is withheld from the accrued interest straight away. With compounding, the net interest is added to the deposit, and the next month income is calculated on a larger amount.

To estimate the after-tax income quickly without a calculator, multiply the rate by 0.77: a deposit at 15% gives you 11.55% a year without compounding.

Examples

Which suits your money better, a deposit or government bonds, is covered in “Deposit or government bonds: which pays more”.

FAQ

What taxes are withheld from deposit interest in Ukraine?

18% personal income tax and the 5% military levy, 23% of the accrued interest in total. The bank withholds them on every accrual, so you receive the net income.

What does compounding give me?

With compounding, net interest is added to the deposit every month, and the next month interest is charged on a larger amount. UAH 100,000 at 15% for a year gives UAH 112,181 after tax with compounding and UAH 111,550 without it.

What is the effective rate?

It is the annual return on the deposit after tax, including compounding. It shows what your money really earns, and it is the number to compare with inflation and with government bond yields.

Is my deposit guaranteed?

Deposits of individuals in banks that participate in Ukraine's Deposit Guarantee Fund are protected: in full during martial law, and up to UAH 600,000 per depositor per bank after it.

The calculation is for reference only and is not financial or tax advice. Actual terms depend on your contract with the bank, fees and current law.

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