Simple versus compound interest — see the difference in real numbers.
You receive a detailed return analysis.
With simple interest you earn a fixed percentage on the initial amount only. With compound interest the interest earned is added to the principal, and the next interest calculation is made on a larger sum. Over longer periods the difference can be substantial.
Enter the deposit amount, the annual rate and the term in months. Choose the interest type and the calculator shows the exact interest earned and the final value of the deposit.
Yes. Interest on bank deposits in Bulgaria is subject to a final 8% tax. The bank withholds it automatically on payment. The figure in the calculator is gross — before tax.
Yes — enter the terms of each offer in turn and compare the results. Look not only at the rate, but also at the compounding terms and the restrictions on early withdrawal.