Guide
How to compare two currency deposits
This guide explains how to enter and verify an ordinary foreign-currency fixed-deposit comparison. DepositFX does not model structured dual-currency investments or recommend a product.
1. Start with the currency you already hold
The base currency is the money you have today. Enter the amount, annual deposit rate and term in months. This creates the baseline result: how much interest the original currency deposit would estimate at maturity.
2. Add the comparison currency
The comparison currency is the alternative scenario. The calculator converts the base amount using the exchange rate you enter, applies the comparison-currency rate and term, then converts the maturity value back to the base currency for a like-for-like estimate.
3. Read the threshold rate carefully
The threshold rate is the exchange rate where the two estimated maturity values are equal. It is not a forecast. It simply answers this question: at what exchange rate would the comparison-currency result become equal to the base-currency result?
4. Understand exchange spread
Banks and platforms often quote different rates for buying and selling currency. The spread field lets users include a rough conversion cost. If you do not know the spread, leave it blank and treat the result as a cleaner but less complete estimate.
5. Use reference rates as a starting point
If the annual rate field is blank, DepositFX uses the reference rate listed for that currency. Reference rates are meant to reduce manual lookup, not replace the actual product quote from a bank. Product availability, minimum deposit amounts, fees and withdrawal rules may differ.
Before using a number outside the calculator
- Check the current official bank rate or product page.
- Check the actual exchange quote you can transact at.
- Confirm the term, minimum balance and early-withdrawal rules.
- Consider tax, fees and account eligibility rules that the calculator does not include.
Build a comparable bank-quote worksheet
Before entering a bank offer, record the details that determine whether the quoted rate applies to you. A headline rate by itself is not enough to reproduce a deposit outcome.
- Identify the product. Record the bank, product name, currency, booking channel and the page or document where the offer appears.
- Check your eligibility. Note the minimum and maximum balance, new-customer conditions, relationship requirements and any promotional period.
- Match the cash-flow dates. Record the term, start date, maturity date, renewal setting and whether early withdrawal is allowed.
- Confirm the interest convention. Check whether the rate is annualized, simple or compounded, and whether interest is paid at maturity or periodically.
- Capture executable FX quotes. Save the rate and time for both the initial conversion and the expected conversion back. A public reference rate is not a bank execution quote.
- List deductions separately. Record transfer charges, account fees, taxes, withholding and intermediary fees rather than hiding them inside a guessed interest rate.
Use the focused guides for the two most common questions
- How much FX movement erases a higher deposit rate?
- How do entry quotes, exit quotes and fees change the comparison?
For formulas, quote direction, invalid-input rules and worked arithmetic, read the calculation method. To report an outdated bank link or unclear product condition, use the contact page.