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Time deposit calculator

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Enter the amount, the term and the yearly rate your bank quotes. The receipt shows the interest before and after the 20% final tax, and what you get back at maturity.

Your numbers

In pesos.
From 30 days to 5 years: 1 to 60 months, or 30 to 1,827 days.
The gross rate a year, before tax, from your bank's own rate page.
Banks count interest on a 365-day or a 360-day year. Your bank's terms say which.

Fill in the boxes and your estimate prints here.

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This is an estimate. Banks round, count days and credit interest in their own way, so the figure on your bank’s certificate of time deposit is the one that counts.

How it is worked out

The calculator follows four lines:

  1. Interest before tax = amount x yearly rate x days in the term / days in the bank’s year
  2. Final tax = 20% of the interest before tax
  3. Interest after tax = interest before tax minus the final tax
  4. Total at maturity = amount + interest after tax

Each amount is rounded to the centavo.

Days in the bank’s year. Some banks count interest on a 365-day year, others on a 360-day year. On a 360-day year the same rate pays a little more. Your bank’s terms or rate sheet say which it uses; if you can’t find it, ask.

Terms in months. A term in months is turned into days at 365 / 12 days a month and rounded: 1 month is 30 days, 3 months 91 days, 6 months 183 days, 1 year 365 days and 5 years 1,825 days. Your bank counts the actual days from placement to maturity, so its figure can differ by a day’s interest. To match it exactly, switch to days and enter the bank’s number of days.

The 20% final tax

The bank withholds a 20% final tax on the interest before it pays you. Since 1 July 2025, the law applies this rate to interest a Filipino citizen or resident individual earns “from any currency bank deposit or deposit substitute”, “regardless of their nature or tenure” (NIRC Sec. 24(B)(1) as amended by RA 12214, and BIR Revenue Regulations 21-2025, Sec. 3). Two things follow:

  • Five-year deposits are taxed too if they were placed from 1 July 2025. Under the old rules, a deposit held for five years or more could be tax-free.
  • Deposits placed before 1 July 2025 keep the tax treatment they had then until they mature, as long as they are not renewed and their maturity is not changed (RA 12214 Sec. 28; RR 21-2025, Sec. 10). This calculator does not work out those.

The 20% applies to OFWs too: interest on a Philippine bank deposit is Philippine income, and Filipinos working abroad are taxed on their Philippine income.

Assumptions

  • Simple interest, paid once at maturity. No rollover and no early withdrawal.
  • The rate stays fixed for the whole term.
  • No fees or charges.
  • A peso deposit held by a Filipino citizen or resident individual. Dollar and other foreign currency deposits are left out.
  • The tax rate as checked on the date at the top of this page.

PDIC deposit insurance

The Philippine Deposit Insurance Corporation (PDIC) insures deposits in its member banks up to PHP 1,000,000 per depositor, per bank, from 15 March 2025. All your deposits at the same bank are added together for that limit. If the total at maturity is above it, the receipt reminds you of the limit.

Foreign currency deposits are insured too, and paid out in the same currency (PDIC FAQ). PDIC does not insure investment products such as bonds and securities, trust accounts and similar products (RA 9576 Sec. 4(f)). A time deposit is a deposit; a UITF or a bond sold by the same bank is not.

Where to find a rate

We don’t keep a table of bank rates: they change often, and an old rate is worse than none. Each bank publishes its own time deposit rates on its website and in its branches. When you compare, check the minimum amount, whether the rate is before or after tax, and what happens if you withdraw early. Our guide to time deposits explains how to compare offers.

Official tools

The BSP, PDIC and BIR websites (bsp.gov.ph, pdic.gov.ph and bir.gov.ph, checked 20 October 2026) list no time deposit calculator. Check the final figure with your bank before you place the money.

Questions people ask

How do you compute time deposit interest?

Multiply the amount by the yearly rate and by the number of days in the term, then divide by the days in the bank's year (365 or 360). That is the interest before tax. Take off the 20% final tax to get the interest you receive. For example, PHP 100,000 at 5% for 365 days on a 365-day year earns PHP 5,000 before tax, PHP 4,000 after.

What is 10% interest of 10,000?

PHP 1,000 for a full year, before tax. On a Philippine bank deposit, the 20% final tax takes PHP 200 of that, so you receive PHP 800. For a shorter term, the interest is smaller in proportion: about PHP 249 before tax for 91 days on a 365-day year.

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Sources

  1. RA 12214 (CMEPA), amending NIRC Sec. 24(B)(1), final tax on interest (lawphil.net) (checked 20 October 2026)
  2. BIR Revenue Regulations 21-2025, Secs. 3, 10 and 13 (rates from 1 July 2025) (checked 20 October 2026)
  3. PDIC, frequently asked questions (insured and not insured deposits) (checked 20 October 2026)
  4. PDIC, maximum deposit insurance coverage (checked 20 October 2026)
  5. RA 3591 as amended by RA 9576, Sec. 4(f), what deposit insurance does not cover (lawphil.net) (checked 20 October 2026)

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