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Fixed Deposit Interest Calculator

Calculate gross interest, withholding tax and net maturity amount

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ðŸ’Ą Tips

  • In Korea, interest income is subject to 15.4% withholding tax (14% income tax + 1.4% local tax) deducted at source
  • Tax-exempt savings accounts (ëđ„ęģžė„ļėĒ…í•Đė €ėķ•) allow up to 50 million KRW with zero withholding tax
  • Compound interest grows faster than simple interest over longer periods — most bank deposits use simple interest at maturity

Frequently Asked Questions

What is the difference between simple and compound interest?

Simple interest is calculated only on the principal. Compound interest is calculated on the principal plus accumulated interest, so it grows faster over time.

When is withholding tax deducted?

For fixed deposits in Korea, the bank deducts the 15.4% withholding tax from interest at the time of maturity payout. No separate filing is needed for amounts under the annual threshold.

Is my data saved anywhere?

No. All calculations run entirely in your browser. No data is sent to any server.