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Cash ISA interest calculator
Want to know how much tax-free interest you could earn with a cash ISA? Work it out using our cash ISA interest calculator.
Calculate your potential ISA interest
Provide some details about your ISA to get a basic understanding of the interest you could earn:
This ISA interest calculation assumes no funds are added or withdrawn during the term. Bear in mind that interest rates may be subject to change.
Try adjusting the details you’ve provided to see how that affects the interest you could earn.
Refining your interest calculations
As you may expect, there are several factors that can influence how much interest you could earn from a savings account. These could include:
Lump sum deposits – you may choose to make a single deposit to hold in your savings account. In this scenario, it should be relatively easy to work out how much interest you could earn each year.
Regular deposits – if you make smaller deposits – perhaps monthly – your interest calculations will be more complicated. Where compound interest applies, as your balance grows, so too will your potential interest returns.
Withdrawals – withdrawing money from your savings account will affect the amount of interest you earn, even if you top up your account later. Charges may also apply to withdrawals.
Interest rate – some savings accounts offer predictable fixed interest rates. Others offer variable interest influenced by the base rate, which can fluctuate over time.
Term – your savings account may offer a promotional interest rate for a set period. Make sure you understand when that will end, and what interest rate will apply thereafter.
Interest payments – you’ll earn interest on your savings balance, including any interest you’ve already received. This is known as compound interest. Whether interest is paid monthly, quarterly, or annually, could make a difference to interest you’ll earn overall.
ISA interest calculations in action
Below is an example illustrating the impact of compound interest on a lump sum, compared to regular ISA deposits. Over the same term, the return on monthly deposits is lower.
|
Lump sum |
Regular deposits |
|
|---|---|---|
|
Lump sum Initial deposit |
Regular deposits £1,500 |
£0 |
|
Lump sum Monthly deposit |
Regular deposits £0 |
£125 |
|
Lump sum Interest rate |
Regular deposits 1.4% |
1.4% |
|
Lump sum Interest paid |
Regular deposits Monthly |
Monthly |
|
Lump sum Term |
Regular deposits 1 year |
1 year |
|
Lump sum Future savings value |
Regular deposits £1,521.14 |
£1,509.66 |
This example assumes that no funds are withdrawn during the term. Remember, interest rates may be subject to change.
Why save with Lloyds Bank?
Financial Services Compensation Scheme
Eligible deposits held with us are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme.
