Calculate your savings return
About our Savings Calculator
You can use our handy savings calculator to work out how much interest you are likely to earn on your savings.
How do interest rates work?
An interest rate is a percentage of how much you will earn based on the amount you save. Interest is paid to you by your savings provider. Interest earned on your savings can then be used to help you save towards large payments, for example mortgage deposits.
Does the base rate affect my interest payments?
The Bank of England Base Rate is separate to all of our savings interest rates at the Tipton. Unless your savings account specifically states that it follows base rate, there will be no automatic changes to your interest rate when base rate changes. However, it is not uncommon for increases or decreases in base rates to influence providers decisions in the savings rates they offer.
How does compound interest work?
Compound interest is where interest is added to the amount you have saved, and you then continue to earn interest on the higher amount. For example, if you have £1,000 saved and total interest of £1.00 is paid on 31 December, any future interest will be calculated based on £1,001.00.
How often is compound interest paid on a savings account?
This is solely dependent on the account. All savings account providers are required to show a Summary Box for each account. The frequency of interest payments will be detailed in this.