Early Withdrawal Interest Calculator for Deposits & Savings
See what you'd actually take home after tax if you close a deposit or savings account early
Closing a deposit or savings account before maturity swaps your contracted rate for a much lower early-withdrawal rate, which can gut your interest. Enter your principal, contracted rate, contracted term, and how long you actually held the account, and this calculator shows the early-withdrawal rate that applies based on how far into the term you got, plus your after-tax payout (15.4% tax). Everything is calculated in your browser and the amounts you enter are never sent to a server.
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How to use
- Enter the principal you deposited, in won.
- Enter the annual contracted rate (%) from when you opened the account.
- Enter the full contracted term in months and how many months you actually held it.
- Review the early-withdrawal rate applied based on elapsed time and your after-tax payout.
FAQ
- How is the early-withdrawal rate calculated?
- It's applied in tiers from 20% to 90% of your contracted rate, depending on what percentage of the term you completed. If you held the account for less than a month, a much lower rate (around 0.1% per year) applies instead.
- Will this match exactly what my bank pays out?
- Every bank and product calculates early-withdrawal rates differently, so this tool gives an approximation based on typical elapsed-time tiers and should be treated as a reference. Check with your financial institution for the exact amount.
- How is tax factored in?
- The final payout (principal plus after-tax interest) is calculated after deducting the standard 15.4% interest income tax.