What a fixed-term deposit earns. Interest income is taxed at 25.5% IIN.
With the compound interest formula A = P × (1 + r/n)^(n×t), where P is the deposit, r the annual rate, n the number of compounding periods per year and t the years. If interest is paid out rather than added to the balance, it is simple interest and the result is smaller.
In Latvia interest is capital income and subject to personal income tax. This calculator shows the return before tax, so the amount actually received will be lower. Check the current rate and the declaration rules with the State Revenue Service (VID), since both change over time.
The European Union operates a deposit guarantee scheme covering deposits up to a set amount per depositor per bank. The exact figure and conditions are set in law and can change, so confirm them with your bank or the supervisory authority rather than relying on this calculator.
Most term deposits either forfeit the interest or drop it to the on-demand rate if the money is taken out before maturity. The specific terms sit in the contract and differ between banks, so they are worth reading before signing rather than after.