# 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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