How interest accrues
It models a bank deposit the way a bank does: interest accrues over the actual number of days in each month rather than in neat yearly chunks. The first period runs from the opening date to the same date next month, and so on. February therefore earns less than January even though the rate never changed.
The opening date is today. The schedule below the calculator shows every period on its own: the date, the day count, the interest, the tax, and the balance left on the deposit.
What each field means
- Currency - for the dollar and the euro the official NBU rate is shown under the field, updated daily.
- Initial capital - what you put in at the start.
- Monthly top-up - what you add each month. A top-up lands at the end of every period except the last one: money paid in on the closing day would have had no time to earn.
- Number of months - the term, from 1 to 36.
- Annual rate - the one in your contract. Nominal, before any compounding. The field starts at the average rate on new household deposits for up to a year from the official NBU statistics: one for the hryvnia, a shared currency one for the dollar and the euro. It follows the monthly statistics. Your bank may well offer a different rate - put in the one from your contract.
- Tax - 23 % as of 2026: 18 % personal income tax plus a 5 % military levy. The bank withholds it from every interest payment automatically.
- Annual inflation - used only to show what the final sum is really worth. It does not affect the interest itself. The field starts at the inflation over the past 12 months: the NBU's for the hryvnia, Eurostat's for the euro, the US Bureau of Labor Statistics' for the dollar.
An example
100 000 ₴ for 12 months at 12.63 % a year (the NBU's average rate on new hryvnia deposits of up to a year, August 2026), 23 % tax, interest added to the deposit monthly. The interest follows the days in each month, so if the term takes in 29 February, the amounts come out a few hryvnias different:
- interest accrued: 13 208 ₴
- tax withheld: 3 038 ₴
- net profit: 10 170 ₴
- balance at the end of the term: 110 170 ₴
Note that 13 208 ₴ was accrued although 12.63 % of 100 000 ₴ is 12 630 ₴. Compounding made up the difference - each month the interest is calculated on a larger balance. The rate card shows an effective rate of 13.39 % - worked out the way banks do, before tax: what would accrue if the full interest joined the deposit. Tax is withheld from every accrual, so a smaller amount compounds and 13 208 ₴ actually accrues.
Compounding or payouts to a card
This is the main choice in the calculator, and it matters more than it looks.
Compounding leaves the interest on the deposit, where it starts earning on its own. The frequency counts: on the same terms, monthly compounding yields 110 170 ₴ and quarterly 110 086 ₴. The less often interest joins the principal, the smaller the result.
Payouts to a card send the interest to you every month and leave the principal flat. On the same terms you receive 9 725 ₴ in payouts and the deposit still holds 100 000 ₴. That is 445 ₴ less than compounding would give, in exchange for money you can use every month.
Tax and real value
A 12.63 % rate becomes 9.73 % net once 23 % is withheld. And that is not the whole story: at 10 % inflation (year on year, NBU, October 2026), the real return of the compounding deposit is only 0.16 %. In other words, 110 170 ₴ a year from now buys roughly what 100 155 ₴ buys today.
That is why the results show "Real value" next to the final balance - what your money will actually be worth at the end of the term.
Deposit guarantee
The Deposit Guarantee Fund covers up to 600 000 ₴ per depositor per bank. During martial law and for three months after it ends, the state guarantees the full amount. If your calculation goes over the limit, the calculator says so - it is worth splitting the sum across banks.
What the calculator leaves out
It assumes the rate holds for the whole term. Real bank terms may include service fees, limits on top-ups, or lost interest on early withdrawal. Check the official contract before you sign.