OmniTools

Fixed deposit

Maturity value, withholding tax and the effective annual rate.

Nothing you enter is sent anywhere

Interest paid

Gross interest

LKR 47,500

Withholding tax

LKR 2,375

Interest you keep

LKR 45,125

At maturity

LKR 545,125

What the rate really means

Nominal rate

9.5%

Effective annual rate

9.500%

Interest paid only at maturity does not compound, so the nominal and effective rates are the same. A bank paying monthly at the same headline rate would give you more.

The withholding rate is left editable rather than fixed, because it has changed repeatedly in recent years and applies differently to senior citizens and to certain account types. Take the current figure from your bank or the IRD and enter it, rather than trusting a default that may be out of date. Everything else here is arithmetic.