# Effective Interest Rate (Savings) Calculator

First, go through **Best Singapore Bank Savings Interest Rate **to find the best high-yield savings account that suits your needs.

Then, use this simple **Effective Interest Rate (Savings) Calculator** to calculate the effective interest rate and the estimated monthly and yearly interest you can earn for the amount placed.

### How To Use Effective Interest Rate (Savings) Calculator

Let’s use UOB One interest rate as an example.

**Example 1 (S$100,000)**

The highest bonus interest (as shown in the last column above) is only applicable to the first S$100,000, so we use S$100,000 to calculate the maximum effective interest rate (EIR).

The first S$30,000 is at 3.85% p.a., so enter **30000** into **Tier 1 Amount** and **3.85** into **Tier 1 Interest Rate**.

The next S$30,000 is at 3.90% p.a., so enter **30000** into **Tier 2 Amount** and **3.90** into **Tier 2 Interest Rate**.

The next S$15,000 is at 4.85% p.a., so enter **15000** into **Tier 3 Amount** and **4.85** into **Tier 3 Interest Rate**.

The next S$25,000 is at 7.80% p.a., so enter **25000** into **Tier 4 Amount** and **7.80** into **Tier 4 Interest Rate**.

Then, hit the **CALCULATE** button to find out the EIR.

The EIR in this example is **5.00% p.a**.

**Example 2 (S$50,000)**

If you have S$50,000 to deposit;

The first S$30,000 is at 3.85% p.a., so enter **30000** into **Tier 1 Amount** and **3.85** into **Tier 1 Interest Rate**.

The next S$30,000 is at 3.90% p.a., so enter **20000** into **Tier 2 Amount** and **3.90** into **Tier 2 Interest Rate**.

You can leave the rest of the fields blank.

Then, hit the **CALCULATE** button to find out the EIR.

The EIR in this example is **3.87% p.a**.

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