Interest earned or paid on an amount for a number of days, at a yearly rate.
Figures checked: October 2026 · Methodology and sources
Simple interest on 365 days a year, before tax. Some banks count 360 days.
Simple interest is the amount times the yearly rate times the share of the year: interest = amount × rate × days / 365. It is how savings accounts and short deposits pay interest within a year, and how overdrafts are charged.
For longer periods, where interest is added to the balance and earns interest itself, use the compound interest calculator.
It is the most common convention for savings in Europe. Some banks and money markets use 360 days, which gives slightly more interest.
Usually yes, as income from savings. The result here is before tax.
Enter it with a minus sign: you then pay to keep the money.
Indicative results. This is not financial advice.
Know how much you will have left at the end of the month
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