Savings and deposit calculators

Saving and deposits — how it works

Simple vs compound interest. Simple interest accrues only on the initial principal — the same amount every year. Compound interest also accrues on previously earned interest, so capital grows exponentially rather than linearly. The more frequent the compounding (monthly > quarterly > yearly) and the longer the horizon, the stronger the snowball effect. The final-value formula is FV = P × (1 + r/n)^(n×t), where P is the principal, r the annual rate, n the number of compoundings per year and t the number of years. Our compound interest calculator plots this growth on a chart. How the Belka tax works. Capital gains in Poland — including interest from deposits and savings accounts — are subject to a flat capital-gains tax, colloquially the Belka tax. On bank deposits it is withheld automatically and you receive the net amount, so when comparing offers, look at the after-tax return, not just the headline rate. You will find the current rate built into the calculator (current rate — see the Belka tax calculator), and every savings calculator can show its result gross and net. Deposit, savings account or bonds. These are three different low-risk tools. A term deposit locks your money for a set period in exchange for a rate known in advance — best when you will not need the cash for a few months. A savings account gives instant access but the rate is often variable and may apply only to new funds or up to a balance cap. Treasury bonds (e.g. retail, inflation-linked) are issued by the state, which makes them very low risk, and some series protect the real value of savings against inflation. The choice depends on your horizon, liquidity needs and risk tolerance — always check the actual rate in the current offer and in the relevant calculator. How much to save for a goal. If you have a concrete goal — a mortgage down payment, an emergency fund or a holiday — start with the target amount and deadline, and the savings-goal calculator works out the required monthly contribution. It also works in reverse: with a known contribution and rate of return, you will see when you reach the goal. Mind inflation — always compare the nominal result with real purchasing power (see the inflation calculator). All savings calculators are free, need no registration, and their results are indicative and not investment advice.