In a world where inflation exists, you would like to protect your money and wealth from devaluation. The easiest and the safest method for that is a savings account in your bank which would bring simple or compound interest on the money you deposit.
The longer the deposit amount and deposit term, the bigger the interest rate but less financial liquidity. To be able to see which input will bring what kind of result, we have designed Savings Interest Calculator Excel template for you to be able to select the best option for you.
Savings Interest Calculator Features:
Basically the template has two sections in a simple framework:
Savings Interest Calculator is a tool used to identify the Bank’s interest payments to your account on your savings account. Once you input your data in terms of the Deposit amount, Interest Rate, Deposit date, Interest Calculation frequency, Duration and Interest type (whether simple or compounded interest) the template creates a schedule.
So you can see your future transactions on the spreadsheet.
Once you create the schedule, it is easy to observe your interests and your accumulated deposit. If the schedule does not result what you need you may simulate other scenarios to see if they are feasible or not.
Input parts have been clarified with white cells and the gray cells are for the automatic calculations give you results. Just put your financial data and find let the template help you to find the best option which will suit you.
Monthly, Quarterly, Semi-Annually, Annually payment options
Compound and Simple Interest Type
Easy to fill
Full Print Ready
Informational notes included
No installation needed. Ready to use.
Works both on Mac and Windows
Compatible with Excel 2007 and later versions