Fixed deposit calculator

Enter the amount, the rate your bank offers and the tenor in days. You get the interest and the amount at maturity.

How it's calculated

Interest for one tenor = amount × rate × days ÷ 365.
If you roll over the deposit with the interest, each new tenor earns interest on the larger balance.
Banks may deduct tax from the interest before paying it. Check the net amount on your advice.

₦1 million for 90 days at 15% earns ₦36,986.30. Rolled over three more times, it reaches about ₦1,156,357 after 360 days.

Why is my bank's figure a little different?

Banks may count days differently, round each period or deduct tax from the interest. The difference is usually small.

Can I break the deposit early?

Usually, but banks often pay a lower rate or charge a fee. Ask before you book.

Fixed deposit or treasury bills?

Treasury bills are government debt sold at a discount. Compare the yield with the treasury bill calculator.

Up-to-date official data

We check the official sources automatically, every day.