How to calculate interest on a deposit?

The amount of interest payable (income) on a deposit can be calculated using the calculator on the “Deposits” page by setting the required deposit parameters. Or you can calculate it yourself in accordance with the selected interest payment method:

1. Monthly interest payment to a separate account (without capitalization). Interest is calculated using the following formula:

Interest on the deposit = (Deposit amount × deposit interest rate × actual number of days during which the funds are placed in the deposit) / number of days in the year.

Example: the client opened a deposit with monthly interest payment to a separate account — term: 3 months (91 days), deposit amount: 100,000 rubles, rate: 12% per annum.

Interest on the deposit for one month: (100 000 ₽ × 12% × 30 days) / 365 days = 986.30 ₽

Interest on the deposit for the entire deposit term (91 days): (100 000 ₽ × 12% × 91 days) / 365 days = 2 991.78 ₽

2. Monthly interest payment added to the deposit amount (with capitalization). Interest can be calculated in two ways:

2.1. Interest for each month is calculated on the deposit amount + the amount of interest added for previous months.

Example: the client opened a deposit with paid interest added to the deposit amount (with capitalization) — term: 3 months (91 days), deposit amount: 100,000 rubles, rate: 12% per annum.

Interest on the deposit for the 1st month: 100 000 ₽ × 12% × 30 days / 365 days = 986.30 ₽.

Interest on the deposit for the 2nd month is accrued on the deposit amount + the amount of interest for the 1st month: (100 000 ₽ + 986.30 ₽) × 12% × 31 days / 365 days = 1 029.23 ₽.

Interest on the deposit for the 3rd month is accrued on the deposit amount + the amount of interest for the 1st and 2nd months:  (100 000 ₽ + 986.30 ₽ + 1 029.23 ₽) × 12% × 30 days / 365 days = 1 006.18 ₽.

Total interest for 3 months will amount to 3 021.71 ₽.

2.2. Interest for the entire deposit term can be calculated using the yield rate calculated by the bank, taking into account monthly interest capitalization, as specified in Uralsib Tariffs & fees.

Example: the client opened a deposit with paid interest added to the deposit amount (with capitalization) — term: 3 months (91 days), deposit amount: 100,000 rubles, rate: 12% per annum, yield rate taking capitalization into account: 12.12%.

Interest on the deposit for the entire deposit term (91 days): (100 000 ₽ × 12.12% × 91 days) / 365 days = 3 021.70 ₽.

The calculations are preliminary and do not take into account deposit and withdrawal transactions. The final amount of interest may differ.