The method
How it is worked out
Real return = rate × (1 − tax) − inflation; gain = balance × ((1 + best)^years − (1 + current)^years)
- real return
- Growth in buying power, not just in pounds
Savings Rate Comparison Calculator
Compare your savings rate with the best available and inflation, in real terms, and see what switching earns you. The result updates as you type so you can compare scenarios quickly.
Keep in mind
What it leaves out
- Rate changesVariable rates move; bonuses often expire after a year.
- AccessThe best rate may lock money away.
- ProtectionCheck deposit-protection limits per institution.
Use the calculator to compare scenarios rather than as a guaranteed forecast.
About the Savings Rate Comparison Calculator
Compare your current savings rate with the best available and with inflation, in real terms after tax, and see exactly what switching accounts would earn you over the period.
How it works and an example to tryShow less
How to use the result
Each rate is reduced by the tax rate on interest, then compared with inflation to give a real return. Both balances are compounded over the years entered; the difference is the gain from switching.
Example to try
£20,000 at 1.5% against a 4.6% account, 20% tax and 3.2% inflation: the current account loses buying power at −2% a year; the better one gains 0.5%. Over three years switching earns about £1,560.
Put it to work
Try it on a real situation
Load an example
What moves the result most
Worked out from your figures above. Tap a row to try it.
Who uses it, and when
Savers who have not moved their money in a while, anyone with cash in a current account and people checking whether a headline rate beats inflation.
Mistakes worth avoiding
- Leaving savings in a legacy account paying a fraction of the market rate.
- Ignoring tax on interest above the personal savings allowance.
- Chasing a bonus rate that expires after a year without a reminder to move again.
Questions
What does the Savings Rate Comparison Calculator do?
Compare your savings rate with the best available and inflation, in real terms, and see what switching earns you.
How should I use the result?
Each rate is reduced by the tax rate on interest, then compared with inflation to give a real return. Both balances are compounded over the years entered; the difference is the gain from switching.
Does TechBullion store the information I enter?
The core calculation or transformation runs in your browser. Normal website security and analytics may still record page-level events, but the tool does not need to create a public record from your inputs.
What mistakes do people make with a savings rate comparison calculator?
Leaving savings in a legacy account paying a fraction of the market rate. Ignoring tax on interest above the personal savings allowance. Chasing a bonus rate that expires after a year without a reminder to move again.
Is the result guaranteed?
No. Use the result as a practical check or planning aid and verify important decisions with the relevant primary source, provider or professional advice.
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Results are estimates based on the figures entered, for general information only, and not financial, investment, tax or legal advice. See our terms of use.