Calculator
Deposit calculator
Example: a 10,000 ₼ deposit for 12 months at 8% a year, interest added to the balance every month — 830.00 ₼ of interest after tax. Type your own rate.
Type the amount, the rate and the term as numbers.
Interest earned (after tax)
830.00 ₼
Final amount (principal + interest): 10,830.00 ₼
Formula: 10,000 × (1 + 8% ÷ 12)^12 − 10,000 = 830.00
- Amount deposited
- 10,000.00 ₼
- Interest before tax
- 830.00 ₼
- Effective annual yield
- 8.30%
Higher than the nominal rate because of capitalisation: (1 + rate ÷ 12)¹² − 1.
No tax: on a manat deposit the monthly interest is not above 200 ₼ (Tax Code article 102.1.22-3).
How interest is paid
Each month's interest is added to the balance and earns interest from the next month.
A top-up is added at the end of each month (except the last) and earns interest from the next month.
We do not keep banks' rates here: they change often. Type the annual rate from your contract; the 8% in the example is only an illustration.
Month-by-month table
Show the table
| Month | Interest | End of month | |
|---|---|---|---|
| 1 | 66.67 | 10,066.67 | |
| 2 | 67.11 | 10,133.78 | |
| 3 | 67.56 | 10,201.34 | |
| 4 | 68.01 | 10,269.35 | |
| 5 | 68.46 | 10,337.81 | |
| 6 | 68.92 | 10,406.73 | |
| 7 | 69.38 | 10,476.10 | |
| 8 | 69.84 | 10,545.95 | |
| 9 | 70.31 | 10,616.25 | |
| 10 | 70.78 | 10,687.03 | |
| 11 | 71.25 | 10,758.27 | |
| 12 | 71.72 | 10,830.00 | |
Figures are rounded to the qəpik, so the rows can differ from a total by a qəpik. "End of month": the account with interest if capitalised, with the accrued interest if paid at the end, the principal only if paid monthly to a card.
Tax on the interest
- For a resident individual the bank withholds income tax on interest at 10% (Tax Code article 123.1).
- On deposits in the national currency, the part of the monthly interest accrued in each bank up to 200 manat is exempt (article 102.1.22-3). The limit is shared by all your manat deposits in one bank.
- Interest on a manat deposit placed for 18 months or more and repaid no earlier than 18 months is fully exempt for 3 years (article 102.1.22-4). The Code does not say when those 3 years start and end, so the calculator does not apply it: ask the bank.
- The earlier relief (article 102.1.22, annual interest, 7 years from 1 February 2016) ended on 1 February 2023 and is not applied.
Tax is worked out on each month's accrued interest and included in the total; a bank may withhold it at another time. Source: the Tax Code text on e-qanun.az, checked 26 October 2026. Tax Code (e-qanun.az)
Deposit insurance
The Azerbaijan Deposit Insurance Fund compensates an individual's deposit at 100% up to 100,000 ₼ in each participating bank. Manat deposits are paid in manat, foreign-currency deposits in that currency.
Source: the Deposit Insurance Fund, checked 27 October 2026. adif.gov.az
How deposit interest is worked out
Interest can be simple or capitalised. Simple interest is earned on the amount deposited only. With capitalisation each month's interest is added to the balance and earns interest from the next month; over a longer term the gap grows.
The calculator takes a month's interest as "balance × annual rate ÷ 12". Some banks count interest by the number of days, so a bank's figure can differ by a few qəpik: the exact amount is in your contract.
We do not keep banks' rates here: they change and differ from bank to bank. For a loan's interest and monthly payment see the loan calculator.
Checked: 27 October 2026
Frequently asked questions
How is the interest on a deposit calculated?
A month's interest = balance × annual rate ÷ 12. With simple interest over 12 months: 10,000 × 8% ÷ 12 × 12 = 800.00. Type the amount, the annual rate and the term: the interest, the final amount and the monthly table appear at once. The 8% in the example is only an illustration.
Is tax taken on deposit interest?
Under the Tax Code (article 123.1) the bank withholds 10% tax on a resident individual's interest. On a deposit in the national currency the part of the monthly interest up to 200 manat in each bank is exempt (article 102.1.22-3); a foreign-currency deposit has no such relief. Interest on a manat deposit placed for 18 months or more can be fully exempt for 3 years (article 102.1.22-4), but the Code does not say when that period starts: ask the bank.
What is the difference between capitalised and simple interest?
With capitalisation each month's interest is added to the balance and earns interest from the next month. For 10,000 ₼ at 8% over 12 months simple interest gives 800.00 and monthly capitalisation gives 830.00 (before tax). The effective annual yield is 8.30%.
Is my deposit insured?
The Deposit Insurance Fund compensates an individual's deposit in full up to 100,000 ₼ in each participating bank. Check with the bank and on the Fund's website that the bank is a participant.
Why does my bank's figure differ from the calculator?
Some banks count interest by days, round qəpiks their own way and withhold tax at another time. The payout, early withdrawal and top-up rules are in the contract. The calculator is an estimate, not a bank offer.