Calculate your CDT
Informational simulation. Withholding tax and other deductions depend on your situation and on current regulations; confirm the amount with your institution. Each institution may pay interest periodically or at maturity.
The formula
withholding = gross interest × withholding %
net = gross interest − withholding
It is the same calculation the BankIA platform uses for its CDTs: effective compounding on a 365-day basis.
Questions about CDTs
What is a CDT?
A CDT (Certificado de Depósito a Término, a term deposit): you leave your money with an institution for a fixed term and in return you receive interest at an agreed rate.
Why is the net rate lower than the one offered?
Because the withholding tax (and other costs, if any) is deducted from the gross interest.
What happens if I withdraw before maturity?
It depends on the institution: there may be a penalty or loss of interest. Review the terms before opening it.
To understand the calculation
How a CDT works: yield and withholding tax
What a CDT (term deposit) is, how the interest is calculated, what withholding tax is and how much is left net. With a worked example.
Read the guide →Effective vs. nominal rate: differences and examples
What effective annual, nominal in-arrears and nominal in-advance rates are, how to convert them and why it matters when comparing loans and savings.
Read the guide →