This is very much it. Islam is simple, loud n clear in day to day matters like zakat etc. 2.5% of all your saving that have been with you for one year. Like if you have had it for say 7 months, it will not be counted in it, if its there till next year yes it will be counted.
Just to make.things simpler, give your zakat by 1st of ramadan (or any month you like) and then every year do a closing (accounting term) of your account and pay your zakat on that sum. 
Remember Zakat flourishes your wealth. So never miss it.
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