Regular Saver calculator
The calculator is intended to help you project your savings over a certain period.
The information provided by this calculator is intended to provide a general overview, and the figures and time periods are illustrative only.
The figures provided by the calculator are a guide only and are not a precise calculation.
This is an example file and is not intended for production use.
Calculator Assumptions
Interest Rates - The calculator assumes that interest rates will remain the same throughout the calculation. The calculator assumes Interest payable on the Regular Saver is gross (before tax). Please note dependant on your tax bracket deductions will be made at either higher or basic tax rate. Interest is calculated on daily cleared balance and paid on first anniversary of account opening. The Regular Saver calculator allows you to either choose an existing rate that we offer or to model scenarios at different rates to see what interest you could earn.
Length of Month - Months are of equal length. However given some months are longer than others interest accrued will vary depending upon the month. Number of Weeks/Fortnights in a Year. One year is assumed to contain exactly 52 weeks or 26 fortnights. Thus each year has 364 days.
Deposit frequencies- The calculator assumes deposits are made at set intervals, and are always made at the same time & frequency. The frequency can be changed by the user. e.g. Monthly, Yearly.
Rounding - The calculator uses the unrounded payment to derive the amount of interest accrued over the full term of the deposit. As this is rounded down, in some cases the calculator may underestimate interest paid.
The figures provided by the calculator are a guide only and are not a precise calculation.
