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Financial Calculators & Tools

Candid Calculator

Inflation eats away at your savings. In fact, if you're not careful, your savings could actually be shrinking in terms of what they might buy in future.

Note: the calculator assumes you have already used your personal savings allowance.

Do your savings break even?
The Inflation rate over the year to February 2023 is: 13.50%
Figures below show the gross rate of savings interest you would have needed just to keep up with inflation over the last year.
Non-Taxpayer Basic Rate Taxpayer Higher Rate Taxpayer Top Rate Taxpayer
13.50% 16.88% 22.50% 24.55%

Use the calculator below to discover whether inflation is ravaging your savings.

Savings vs Inflation
Your savings account annual interest rate ? % gross

Current tax year income tax rates used, these may vary in future, as might savings tax legislation.

Calculations are estimates provided for illustrative purposes only. Candid Money Limited accepts no liability whatsoever for their subsequent use.

Go to Calculators Homepage.