Calculation of annual interest. What is annual interest on a loan (deposit)
A banker is a merchant. He buys money interest on deposit at low price and sells them loan interest at a higher. The resulting difference constitutes his income.
There are more people who want to borrow than those who want to deposit money at interest. Therefore, commercial banks can obtain loans from TSB RF Central Bank of the country. As of September 2016, under "key rate"
(aka “refinancing rate”) 11% per annum. It is logical to assume that it is not very profitable for commercial banks to accept contribution deposits with an interest rate above this value. An exception can be made only for VIP clients - owners of factories, newspapers, and ships.
For others, a high deposit percentage may be a marketing ploy, since it will be compensated through various commissions.
How to calculate the amount that the depositor will receive if interest is accrued at the end of the deposit period
Annual deposits
A person opened a deposit of 5,000 rubles at 9% per annum for 2 years:
in a year: 5000 rubles is 100% x rubles is 9% x=5000*9/100=450 rubles in two years: 450 rubles for 1 year x rubles for 2 years x=450*2/1=900 rubles 5900 rubles the investor will receive at the end of the term * What is 100? - “A percentage is a hundredth of a number.” Cm. .Monthly deposits
A person opened a deposit of 5,000 rubles at 9% per annum for 3 months:
in a year: 5000*9/100=450 rubles in 90 days: 450 rubles for 365 days x rubles for 90 days x=450*90/365=110 rubles 96 kopecks 5110 rubles 96 kopecks the investor will receive at the end of the term * 365 is . In a leap year there will be 366. .Deposit interest calculator
| date | coming | amount on account |
|---|---|---|
| 5000 | 5000 | |
* interest begins to accrue from the day following the day the money is received by the bank, that is, from (Article 839 of the Civil Code of the Russian Federation).
How to calculate the profitability of a replenished deposit with interest payment at the end of the term
The interest rate on replenished deposits is lower. This is explained by the fact that during the term of the deposit agreement the refinancing rate may decrease and the deposit will no longer be beneficial to the bank. That is, the bank will have to pay interest on the deposit higher than the interest that creditors will pay the bank.
Exception: if the deposit rate depends on the refinancing rate. In other words, the refinancing rate increases - the interest on the deposit increases, the refinancing rate decreases - the interest on the deposit decreases.
An example of calculating interest on a replenished deposit
A person opened a deposit of 5,000 rubles at 9% per annum for 3 months. A month later, he deposited another 3,000 rubles:
in a year: 5000*9/100=450 rubles in 30 days: 450*30/365=36,986 rubles balance after 30 days: 5000+3000=8000 rubles recalculation for the year: 8000*9/100=720 rubles for the remaining 60 days: 720*60/365=118.356 rubles Total interest: 36.986+118.356=155 rubles 34 kopecks The total amount that the investor will receive: 5000+3000+155.34=8155 rubles 34 kopecksDeposit calculator with replenishment
| contribute | ||||
| date | coming | consumption | amount on account | |
|---|---|---|---|---|
| 5000 | 0 | 5000 | ||
| 0 |
How to calculate interest on a deposit with capitalization. What is this: “deposit capitalization”
Interest may be paid:
- total amount at [ ending | termination | on the day of signing] deposit agreements.
- the total amount is divided into parts and paid monthly, annually. The client can choose the most suitable option for himself:
- at the frequency specified in the agreement or less frequently, come to the bank and withdraw the amount of accrued interest or automatically transfer it to a plastic card. That is, “live on interest.”
- capitalization of interest, also known as compound interest add accrued interest to the deposit balance. Just as if you came on the day of interest accrual, withdrew the amount of interest and replenished the deposit with it. The deposit balance increases and it turns out that interest is accrued on interest. Deposits with interest capitalization should be chosen by those who do not plan to withdraw the interest amount in installments. This advice does not apply to deposits where, under the terms of the agreement, partial withdrawal in the amount of capitalized interest is possible.
Formula for calculating deposit with capitalization
S = s × ⎛ ⎝ 1 + P×d 100×D⎞ ⎠ n S - the total amount that the investor will receive, s - the initial amount, P - the annual interest rate, d - the number of calendar days in the period, D - the number of days in the calendar year, n - the number of capitalizationsAn example of calculating interest on a deposit with capitalization
On January 1, a person opened a deposit with a capitalization of 5,000 rubles at 9% per annum at 6 months 180 days. Interest is calculated and capitalized on the last day of each month.
5000 × (1 + 9/100 × 30/365)^3 × (1 + 9/100 × 28/365) × (1 + 9/100 × 31/365)^2 = 5000 × 1.02235634396 × 1, 00690410959 × 1.01534609946 = 5226.06 Refer to the table above:
- There will be 30 days in three months: January, April, June.
- There can only be 28 days in one month - February.
- 31 days will be in March and May.
How to check the correctness of interest calculation on a deposit, accurate to the penny
The technology malfunctions. When you have an account statement, it is not so difficult to manually recalculate the interest due.
Example: on January 20, a person opened a deposit with capitalization once a quarter for 5,000 rubles at 9% per annum at 9 months 273 days. On March 10, I topped up my account with 30,000 rubles. On July 15, he withdrew 10,000 rubles. April 20, 2014 and July 20, 2014 fall on a Sunday.
20.01-10.03: 5000*9/100*49/365=60,41 10.03-21.04: 35000*9/100*42/365=362,47 20.01-21.04: 60,41+362,47=422,88 21.04-15.07: 35422,88*9/100*85/365=742,42 15.07-21.07: 25422,88*9/100*6/365=37,61 21.04-21.07: 742,42+37,61=780,03 21.07-20.10: 26202,91*9/100*91/365=587,95Is interest on deposits taxable? What deposits are taxable?
I assume that there may be a question about taxes, why a corresponding calculator has not been made.
Let us turn to the law (Article 214.2 of the Tax Code of the Russian Federation): if at the time of conclusion or prolongation extension agreements up to 3 years, the interest on ruble deposits exceeds as of February 2014: 8.25% + 5% = 13.25% refinancing rate by 5 percentage points, That deposit rate minus 13.25% on interest income above this value A citizen of the Russian Federation needs to pay 35% tax. The bank must prepare the relevant documents.
In practice, no one sets a percentage higher than 13.25%:
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Today, banks offer many services to the population, the most popular of which are lending and deposits. The policy regarding loans and deposits is largely controlled by the Central Bank of the Russian Federation, as well as Russian legislative acts. However, banks retain the right to provide loans and place deposits under certain conditions, if this does not contradict the law.
According to statistics, every 10th Russian is a client of one bank or another. This is why the question of how annual interest on a loan or bank deposit is calculated is so important. In most cases, interest refers to the size of the bet. The total amount of the overpayment on the loan, as well as the size of the monthly payment, depends on the rate.
Annual percentage of deposits: calculation using the formula
First of all, let's look at bank deposits. The conditions are specified in the agreement at the time of opening a deposit account. Interest is charged on the deposited amount. This is a monetary reward that the bank pays to the depositor for using his money.
The Civil Code of the Russian Federation provides for the opportunity for citizens to withdraw their deposit at any time along with accrued interest.
All nuances, conditions and requirements for the deposit are reflected in the agreement between the bank and the depositor. Annual interest is calculated in two ways:
Annual loan interest: calculation using formula
Today, the demand for loans is huge, but the popularity of a particular loan product depends on the annual interest rate. In turn, the amount of the monthly payment depends on the interest rate.
When considering the issue of calculating interest on a loan, it is necessary to familiarize yourself with the basic definitions and features of lending in Russian banking institutions.
The annual interest rate is the amount of money that the borrower agrees to pay at the end of the year. However, interest is usually calculated on a monthly or daily basis in the case of short-term loans.
No matter how attractive the loan interest rate may seem, it is worth understanding that loans are never issued free of charge. It doesn’t matter what type of loan is taken: mortgage, consumer or car loan, the bank will still be paid an amount greater than what was taken. To calculate your monthly payment amount, divide the annual rate by 12. In some cases, the lender sets a daily interest rate.
Example: a loan was taken out at 20% per annum. How much percentage of the loan amount is required to be paid daily? We count: 20% : 365 = 0,054% .
Before signing a loan agreement, it is recommended to carefully analyze your financial situation, as well as make a forecast for the future. Today, the average rate in Russian banks is approximately 14%, so overpayments on the loan and monthly payments can be quite large. If the borrower is unable to repay the debt, this will result in penalties, lawsuits and loss of property.
It's also worth knowing that interest rates may vary depending on your condition.:
- constant - the rate does not change and is set for the entire loan repayment period;
- floating depends on many parameters, for example, exchange rates, inflation, refinancing rates, etc.;
- multi-level - The main criterion for the rate is the amount of remaining debt.
Having familiarized yourself with the basic concepts, you can proceed to calculating the interest rate on the loan. To do this you need:
- Find out the balance at the time of settlement and the amount of debt. For example, the balance is 3000 rubles.
- Find out the cost of all elements of the loan by taking a statement of the loan account: 30 rubles.
Using the formula, divide 30 by 3000 to get 0.01. - We multiply the resulting value by 100. The result is a rate that regulates monthly payments: 0.01 x 100 = 1%.
To calculate the annual rate, you need to multiply 1% by 12 months: 1 x 12 = 12% per annum. 
Mortgage loans are much more complicated to calculate because... include many variables. For a correct calculation, the loan amount and interest rate will not be enough. It is better to use a calculator that will help you calculate the approximate rate and amount of monthly mortgage payments.
Calculation of annual interest on a loan. Online calculator (balance by month and overpayment amount)
To determine in detail the annual interest on the loan, distribute the balance of the loan by month and year, as well as display information in the form of a graph or table, you can use the online calculator for calculating
Sberbank of Russia is the largest and most famous commercial bank in Russia. Was founded in 1991. The bank's authorized capital in 2012 amounted to over 87 million rubles, and its own capital was 1.6 trillion rubles. In 2013, the bank's net profit amounted to 392 billion rubles. The bank employs over 230 thousand people. The president of the company is 50-year-old German Gref, a native of the village of Panfilovo, Pavlodar region.
- Unsecured consumer loan - up to 1.5 million rubles, interest rate from 14.5% per year, maximum term - 5 years. Issued within 2 working days.
- Consumer loan with guarantee - up to 3 million rubles, interest rate from 14.5% per year, maximum term - 5 years. Issued within 2 working days.
- The conditions are the same. With a salary of 30 thousand rubles, you can count on receiving a loan in the amount of 200,000 rubles (monthly payment will be 18 thousand rubles) or more.
- Consumer loan secured by real estate - from 1 to 10 million rubles, interest rate from 14.5% per year, maximum term - 7 years. The decision to issue a loan is made within 10 working days.
- With a loan amount of 1 million rubles for 5 years, the monthly payment will be 23 thousand rubles, while your minimum monthly income must be at least 40 thousand rubles.
- Loan to military personnel - the maximum loan amount without collateral is 500 thousand rubles, with a guarantee of up to 1 million rubles at 17.5% per annum.
- An education loan is issued at 12% per annum for a period of up to 5 years or more.
- Loan for the purchase of a car - up to 5 million rubles, interest rate from 13.5% per year, maximum term - 5 years, while down payment required cars in the amount of 15%.
- With a salary of 30 thousand rubles, you can count on an amount of 740 thousand rubles with a monthly payment of 18 thousand rubles. If you take out a loan for 1 year, the maximum amount will be significantly less and will be only 200 thousand rubles, while the monthly payment will be the same 18 thousand.
- Let's say you are a student and want to take out a loan based on the amount of the monthly payment, for example, five thousand rubles. If you do not want to pay more than five thousand a month on a loan, then the maximum you can count on is 205 thousand rubles for 5 years, at 16% per annum (the overpayment will be 94 thousand). 5 years at 5 thousand a month and you are a car enthusiast. Not exactly a luxury car, but not a pedestrian either. A distinctive advantage of this type of lending is the ability to get a loan without confirming income and employment, subject to making a down payment of 30% of the cost of the car.
- If, for example, you want to buy a new Hyundai Solaris on credit for 544 thousand rubles, then taking into account CASCO in the amount of 49,000 rubles and an initial payment of 15% (88 thousand), the monthly payment will be 12,255 rubles with an interest rate of 16%.
- Housing loan
- Military mortgage - from 9.5% per annum for amounts up to 2.4 million rubles. No confirmation of solvency and no loan fees.
- Purchase of finished housing - from 12.5% per annum, up to 30 years, up to 15 million rubles for Moscow and St. Petersburg and 8 million rubles for other cities. With a down payment of 10%. The loan can be provided without proof of income and employment if you make a down payment of 40% of the cost of the apartment. It is worth paying attention to mortgage surcharges: if the loan amount is below 2.1 million rubles, then 0.5% will be added to the amount, and if you do not receive a salary, another half a percent will be added to the bank card, in total the interest rate may increase by 1%. It is required that you be at least 21 years old and no more than 75 years old (if there is no proof of income and employment, the age at the time of loan repayment is limited to 65 years).
- If you are planning to buy an apartment in a new building (primary market), then the conditions are as follows. Interest rate from 12.5% with a loan term of up to 30 years, with a down payment of 10%.
- Military mortgages have the lowest interest rates, everyone knows this. It is 3% lower than usual and starts at 9.5% per annum. In practice, reducing the interest rate by 3% will reduce the amount of overpayment and monthly payment quite significantly. For example, with a mortgage of 2 million rubles with an interest rate of 12.5% for 10 years, the monthly payment will be about 29 thousand, and the overpayment will be 1.5 million rubles. In a military mortgage, the monthly payment will be 25.8 thousand rubles, and the overpayment over 10 years will be 1.1 million rubles, i.e. 400 thousand less. A military man can take up to 2.4 million rubles.
Cash loan from Sberbank of Russia
The minimum loan amount is RUB 15,000. Maximum amount: RUB 1,500,000.
At the highest interest rate
The highest interest rate in a consumer loan is 16.50% for a ruble loan. If you carry out calculations in our loan calculator at this rate, you can find out that for 50,000 rubles, if you take out a loan for 5 years, the overpayment will be 23,753 rubles, and the monthly payment will be 1,229 rubles.
If you take a loan of 100,000 rubles for 5 years, then the monthly payment will be 2,458 rubles, and the overpayment will be 47,507 rubles.
If you take a loan of 1 million rubles for 5 years, then the monthly payment will be 24,584 rubles, and the overpayment will be 475,071 rubles.
Lowest loan interest rate
We will calculate interest on the loan only at the minimum interest rate at Sberbank of Russia - 11.50%.
For a loan of 50 thousand rubles for 5 years, you will need to pay 1,099 rubles monthly. The overpayment will be 15,977 rubles.
For a loan of 100 thousand rubles for 5 years, you will need to pay 2,199 rubles monthly. The overpayment will be 31,955 rubles.
If you take 1 million rubles for 5 years, you will need to pay 21,992 rubles monthly. The overpayment will be 319,556 rubles.
Conditions for a car loan at Sberbank of Russia
The minimum car loan amount is RUB 45,000. The maximum car loan amount is RUB 5,000,000.
The interest rate on the “Auto” car loan is 11.50%. It can be taken for a period from 3 months to 5 years.
Let's calculate how much we will need to pay the bank for a car loan of 300 thousand rubles for 3 years. The monthly payment will be 9,892 rubles, and the overpayment will be 56,140 rubles.
If you take not 300 thousand, but 800 thousand for 5 years, then the monthly payment will be 17,594 rubles with an overpayment of 255,645 rubles for 5 years.
If you suddenly want to borrow 1 million rubles for a car for 5 years, then every month you will pay 21,992 rubles and end up overpaying 319,556 rubles.
Mortgage calculation in Sberbank of Russia
The minimum mortgage loan amount is 45,000, and the maximum goes up to. The mortgage is issued for a term of up to 30 years. Calculation of mortgage interest will be made for one lending program “Refinancing Home Loans” with an interest rate of 13.25%.
If you take a loan of 1 million rubles for 10 years, then the monthly payment will be 15,078 rubles, and the overpayment will be 809,466 rubles.
A mortgage of 3 million rubles for 10 years will require you to pay 45,236 rubles monthly, and the overpayment for these 10 years will be 2,428,400 rubles.
If you take 5 million rubles for 10 years, you will need to pay the bank 75,394 rubles every month and in the end you will overpay 4,047,334 rubles.
You can also take out a mortgage using maternity capital; you can find the conditions for obtaining and the list of required documents in. Or try it as collateral.
The official website is located at sberbank.ru
Everyone has faced the problem of lack of money to purchase household appliances or furniture. Many people have to borrow until payday. Some people prefer not to go to friends or relatives with their financial problems, but to immediately contact the bank. Moreover, a huge number of credit programs are offered that allow you to resolve the issue of purchasing expensive goods on favorable terms.
This is a system of economic relations that provides for the transfer of valuables from one owner to another for temporary use under special conditions. In the case of banks, this value is money. A person needs a certain amount, an economist evaluates the client’s solvency and makes a decision. If everything is in order, the necessary funds are provided for a certain period. For this, the client pays interest to the bank.
To purchase goods or do you need cash? It's worth taking out a loan. A low percentage always attracts customers. Therefore, popular financial institutions provide credit cards and cash loans on favorable terms. And the loan formula will help you figure out how much you will have to pay the bank for servicing.
Overpayment
In the case of a bank loan, the commodity is money. For the provision of services, the client must pay a fee to the financial institution. To understand how the overpayment amount is calculated, it is worth understanding the following concepts:
- loan body;
- commission;
- annual interest rate.
The repayment system, as well as the loan term, matters. This will be discussed below.
What is the body of the loan?
The amount that a person borrowed from the bank is the body of the loan. As payments are made, this amount decreases. It is on the body of the loan that interest and, in most cases, commissions are charged.
Let's look at an example. The client executed a loan agreement on May 1 for the amount of 20,000 rubles. A month later, he made the minimum payment of 2,000 rubles. Of this amount, 500 rubles were spent on paying off interest on the loan, and 1,500 rubles were spent on paying off the body. Thus, as of June 1, the loan amount decreased to 18,500 rubles. In the future, all interest will be accrued on this amount.
Commission
The percentage that the client gives to the bank on top of this is the commission. Different financial institutions may offer different lending terms. The commission can be charged both on the body of the loan and on the amount that the client initially borrowed. Recently, many banks are waiving commissions altogether and setting only an annual interest rate.
Let's look at an example with a fixed commission of 0.5%. The client took out a loan in the amount of 10,000 rubles. The monthly commission will be The formula (calculation of interest on the loan) looks like this: 10,000: 100 X 0.5.
If the commission is not fixed, it is charged on the balance of the debt (loan body). This option is more profitable for the client, since the amount of interest is constantly decreasing. As a rule, the commission is calculated on the balance of the debt as of the last working day of the month. That is, if the client paid the entire amount on the 28th, and the last working day falls on the 30th, no commission will have to be paid.
Annual interest rate
If there is no commission under the loan agreement, the annual rate will be the basis for calculating the overpayment. Interest is always calculated on the balance of the debt. The faster the client repays the loan, the less he will have to overpay.
How much interest does the loan provide? Different banks offer their own conditions. It is possible to borrow money at a rate of 12% to 25%. Next, we will describe how loan interest is calculated (formula). Example: a client took out a loan in the amount of 10,000 rubles. The annual rate under the contract is 15%. On the day the client will overpay 0.041% (15: 365). Thus, in the first month you will have to pay interest in the amount of 123 rubles.
10,000: 100 x 0.041 = 4 rubles 10 kopecks - the amount of overpayment per day.
4.1 x 30 = 123 rubles/month. (assuming there are 30 days in a month).
Let's look further. The client made the first payment of 500 rubles. There is no commission under the agreement. 123 rubles will go towards interest, 377 rubles will be used to pay off the debt. The balance of the debt will be 9,623 rubles (10,000 - 377). This is the body of the loan, on which interest will be accrued in the future.
How to quickly calculate the overpayment on a loan?
It is difficult for a person who is far from the financial sphere to make any calculations. Many banks offer clients a loan calculator that allows them to quickly calculate the overpayment under the agreement. All you need to do is enter on the institution’s website the amount of debt, the expected repayment period and the annual interest rate. Within a few seconds you will be able to find out the amount of the overpayment.
A loan calculator is an auxiliary tool that allows you to roughly calculate the amount of the expected overpayment. The data is not accurate. The amount of the overpayment depends on the amount of funds that the client will contribute, as well as on the loan repayment period.
What are the loan repayment systems?
There are two options for repaying the loan. Classic provides for the payment of a certain part of the loan body and the interest rate. Example: a client decided to take out a loan for a year in the amount of 5,000 rubles. According to the terms, the annual rate is 15%. You will have to pay the loan amount monthly in the amount of 417 rubles (5000: 12). The formula (calculation of loan interest) will look like this:
5000: 100 x 0.041 = 2 rubles 05 kopecks - the amount of overpayment per day.
2.05 x 30 = 61 rubles 50 kopecks (provided that there are 30 days in a month) - the amount of overpayment per month.
417 + 61.5 = 478 rubles 50 kopecks - the amount of the mandatory minimum payment.
With the classic repayment system, the amount of payments decreases every month, since interest is charged on the remaining debt.
The annuity system provides for loan payments in equal installments. Initially, a fixed minimum payment amount is set. As the debt is paid off, most of the money is spent on repaying the loan body, since the overpayment of interest decreases.
Let's look at an example. The client decided to take out a loan for 10 years in the amount of 100,000 rubles. The annual rate is 12%. Overpayment per day 0.033% (12: 365). The formula (calculation of loan interest) will look like this:
100,000: 100 x 0.033 = 33 rubles - the amount of overpayment per day.
33 x 30 = 990 rubles - the amount of overpayment per month.
The minimum payment can be set at 2000 rubles. In the first month, 1,100 rubles will be used to repay the loan, then this amount will decrease.
Penalties
If a bank client does not fulfill his debt obligations, the financial institution has the right to charge a fine. The conditions must be described in the contract. The penalty can be in the form of a fixed amount or in the form of an interest rate. If, according to the agreement, penalties are provided in the amount of 100 rubles, for example, the amount of the next minimum payment will not be difficult to calculate. You just need to add 100 rubles.
Things are more complicated if penalties are calculated in the form of an interest rate. As a rule, the calculation is based on the amount of debt for a certain period. For example, the client was supposed to make a minimum payment of 500 rubles by May 5, but did not do this. According to the agreement, the fine is 5% of the debt amount. The next payment will be calculated as follows:
500: 100 x 5 = 25 rubles - the amount of the fine.
Until June 5, the client will need to pay 1025 rubles (two minimum payments of 500 rubles and a 25 ruble fine).
Summarize
It is not difficult to calculate the interest on a loan yourself. You just have to carefully study the terms of the contract and use the formulas described above. The task is made easier by special loan calculators, which are presented on the official websites of financial institutions. It is worth remembering that only an approximate calculation is made. The exact amount may depend on many factors, such as the loan term, the amount of payments, etc. The shorter the loan term, the less the overpayment.
The online deposit calculator will help you quickly calculate interest on any deposit, including with capitalization, with top-ups and taking into account taxes, and will also show a schedule for calculating interest. If you are planning to open a deposit, then the calculator will help you calculate the potential profitability in advance.
Interest capitalization
With a regular deposit, the bank pays the accrued interest to the depositor monthly (or at other intervals stipulated by the terms of the agreement). This is called "simple interest." A deposit with capitalization (or “compound interest”) is a condition under which accrued interest is not paid, but is added to the deposit amount, thereby increasing it. The total income from the deposit in this case will be higher.
Using a deposit calculator, you can compare the results of calculating two identical deposits (with and without capitalization) and see the difference.
Effective interest rate on deposit
This characteristic is relevant only for deposits with interest capitalization. Due to the fact that interest is not paid but is used to increase the deposit amount, it is obvious that if the deposit amount increases monthly, then the newly accrued interest on this amount will also be higher, as will the final income.
Formula for calculating the effective rate:
Where
N is the number of interest payments during the deposit term,
T - term of deposit placement in months.
This formula is not universal. It is only suitable for deposits with capitalization once a month, the period of which contains an integer number of months. For other deposits (for example, a deposit for 100 days), this formula will not work.
However, there is a universal formula for calculating the effective rate. The disadvantage of this formula is that you can get the result only after calculating the interest on the deposit.
Effective rate = (P/S) * (365/d) * 100
Where
P - interest accrued for the entire deposit period,
S - deposit amount,
d - deposit term in days.
This formula is suitable for all deposits, with any terms and any frequency of capitalization. It simply calculates the ratio of the income received to the initial deposit amount, reducing this value to annual interest. Only a small error may be present here if the deposit period or part of it falls on a leap year.
This is the method used to calculate the effective rate in the deposit calculator presented here.
Tax on income on deposits
The Tax Code of the Russian Federation provides for taxation of deposits in the following cases:
- If the interest rate on a ruble deposit exceeds the value of the key rate of the Central Bank of the Russian Federation at the time of conclusion or extension of the agreement, increased by 5 percentage points.
- If the interest rate on a foreign currency deposit exceeds 9% .
The tax rate is 35% for residents of the Russian Federation and 30% for non-residents.
In this case, not all income received from the deposit is taxed, but only the part received as a result of exceeding the interest rate on the deposit of the threshold rate. In order to calculate the tax base (the amount subject to tax), you must first calculate the interest accrued at the nominal rate of the deposit, and then make a similar calculation at the threshold rate. The difference between these amounts will be the tax base. To obtain the tax amount, all that remains is to multiply this amount by the tax rate.
Our deposit calculator will calculate your deposit taking into account taxes.