Savings Calculator
How your savings grow with monthly deposits, after the 20% tax on interest.
Savings growth
Balance after 5 years₱141,678.35₱130,000.00 from your deposits and ₱11,678.35 from interest after tax.
- Total deposits
- ₱130,000.00
- Interest earned
- ₱14,597.94
- Tax withheld (20%)
- −₱2,919.59
- Balance after 5 years
- ₱141,678.35
Uses official rates last checked 2026-10-07. How it’s computed · Sources · Change your numbers
| Year | Deposited | Net interest | Balance |
|---|---|---|---|
| 1 | ₱34,000.00 | ₱679.88 | ₱34,679.88 |
| 2 | ₱58,000.00 | ₱2,161.21 | ₱60,161.21 |
| 3 | ₱82,000.00 | ₱4,470.00 | ₱86,470.00 |
| 4 | ₱106,000.00 | ₱7,633.14 | ₱113,633.14 |
| 5 | ₱130,000.00 | ₱11,678.35 | ₱141,678.35 |
How to use this calculator
- Enter what you have now, how much you’ll add each month, and the bank’s yearly rate.
- Keep the tax box ticked for bank accounts. The table below shows each year’s balance.
How it’s computed
Each month: interest = balance × yearly rate ÷ 12. The bank withholds 20% of it, adds the rest, then your deposit goes in.
Example
Starting with ₱10,000.00 and adding ₱2,000.00 a month at 4% for 5 years:
- Deposits: ₱130,000.00. Interest after tax: ₱11,678.35.
- Balance: ₱141,678.35.
Rates and sources used
- Final tax on deposit interest, effective 2025-07-01. Secondary verification (bank advisories). A flat 20% applies to peso and foreign-currency deposits of any term placed from July 1, 2025; earlier long-term deposits keep their old treatment until maturity. Pag-IBIG MP2 dividends are tax-free. Source: RA 12214 (Capital Markets Efficiency Promotion Act).Last checked 2026-10-07
Frequently asked questions
Is interest on savings taxed?
Yes. Banks withhold a 20% final tax on deposit interest, so you receive the rest. Untick the box for tax-free returns such as Pag-IBIG MP2.
What rate should I use?
Use the rate your bank advertises per year. Traditional savings accounts pay well under 1%; digital banks and time deposits pay more, often with conditions or balance caps.
How often is interest added?
This calculator credits interest monthly. Some digital banks credit daily, which earns very slightly more; the difference is small.
Are my deposits insured?
PDIC insures deposits up to ₱1,000,000 per depositor per bank. Check that your bank or digital bank is a PDIC member.
This calculator provides estimates for informational purposes only. Actual payroll, taxes, contributions, loan charges, and utility costs may vary depending on your employer, provider, government rules, or specific circumstances.