Basic Information

Tax Rate

Tax Information

Personal Savings Allowance

£1,000

Tax rate on excess

20.0%

Interest up to £1,000 is tax-free. Interest above this is taxed at 20.0%.

Current Cash Savings Value

Monthly Contribution

Annual: £0

Interest Rate

4.50%

Inflation Rate

2.80%

Real Rate

1.70%

Final Savings Value

£5,097

At age 67 · Real: £1,835

Net Interest Earned

£4,097

Tax paid: £0

Cash Savings Summary

Regular Contributions£1,000

One-off Additions+£0

One-off Reductions-£0

Gross Interest£4,097

Tax Paid-£0

Net Interest£4,097

PSA Allowance

£1,000

Effective Rate

4.50%

Annualised Return

4.50%

One-Off Transactions

No transactions added yet

Year-by-Year Cash Savings Growth

Interest: 4.50%·PSA: £1,000·Tax rate: 20.0%·Real rate: 1.70%

Year	Age	Contribution	One-offs	Gross Int.	Tax	Net Int.	End (Nominal)
Start	30	—					£1,000
1	31	—	—	£45 PSA: £45	—	£45	£1,045
2	32	—	—	£47 PSA: £47	—	£47	£1,092
3	33	—	—	£49 PSA: £49	—	£49	£1,141
4	34	—	—	£51 PSA: £51	—	£51	£1,193
5	35	—	—	£54 PSA: £54	—	£54	£1,246
6	36	—	—	£56 PSA: £56	—	£56	£1,302
7	37	—	—	£59 PSA: £59	—	£59	£1,361
8	38	—	—	£61 PSA: £61	—	£61	£1,422
9	39	—	—	£64 PSA: £64	—	£64	£1,486
10	40	—	—	£67 PSA: £67	—	£67	£1,553
11	41	—	—	£70 PSA: £70	—	£70	£1,623
12	42	—	—	£73 PSA: £73	—	£73	£1,696
13	43	—	—	£76 PSA: £76	—	£76	£1,772
14	44	—	—	£80 PSA: £80	—	£80	£1,852
15	45	—	—	£83 PSA: £83	—	£83	£1,935
16	46	—	—	£87 PSA: £87	—	£87	£2,022
17	47	—	—	£91 PSA: £91	—	£91	£2,113
18	48	—	—	£95 PSA: £95	—	£95	£2,208
19	49	—	—	£99 PSA: £99	—	£99	£2,308
20	50	—	—	£104 PSA: £104	—	£104	£2,412
21	51	—	—	£109 PSA: £109	—	£109	£2,520
22	52	—	—	£113 PSA: £113	—	£113	£2,634
23	53	—	—	£119 PSA: £119	—	£119	£2,752
24	54	—	—	£124 PSA: £124	—	£124	£2,876
25	55	—	—	£129 PSA: £129	—	£129	£3,005
26	56	—	—	£135 PSA: £135	—	£135	£3,141
27	57	—	—	£141 PSA: £141	—	£141	£3,282
28	58	—	—	£148 PSA: £148	—	£148	£3,430
29	59	—	—	£154 PSA: £154	—	£154	£3,584
30	60	—	—	£161 PSA: £161	—	£161	£3,745
31	61	—	—	£169 PSA: £169	—	£169	£3,914
32	62	—	—	£176 PSA: £176	—	£176	£4,090
33	63	—	—	£184 PSA: £184	—	£184	£4,274
34	64	—	—	£192 PSA: £192	—	£192	£4,466
35	65	—	—	£201 PSA: £201	—	£201	£4,667
36	66	—	—	£210 PSA: £210	—	£210	£4,877
37 End	67	—	—	£219 PSA: £219	—	£219	£5,097

Key Features

PSA: first £1,000 of interest is tax-free
Tax on excess: interest above PSA taxed at 20.0%
Interest rate: set via the UK Rates Table — switch scenarios or enter custom values there
Contribution period: age 30 to 67, then growth only

Synopsis

This calculator projects a standard (non-ISA) cash savings account, where interest is taxable rather than sheltered. It applies your Personal Savings Allowance — £1,000 for basic-rate taxpayers, £500 for higher-rate, and none for additional-rate — and taxes any interest above that threshold at your marginal rate each year. Regular contributions, one-off additions or withdrawals, and any workplace pension reallocation are all factored into the year-by-year projection, with figures shown both before and after tax so you can see the real impact on your returns. Since this interest is taxable, it's often worth comparing against a tax-free Cash ISA first, or channelling spare cash into Mortgage overpayments instead.

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