Savings Calculator
Plan a savings goal with regular monthly deposits. Enter what you already have, what you can save each month, the expected return, and the time horizon to see how close you get to your goal.
Disclaimer: Results are estimates for planning only and are not financial advice. Interest rates, fees, taxes, and lender terms vary. Check with your bank or a qualified financial adviser before borrowing or investing.
How to use
- Enter your current savings, or zero if you are starting fresh.
- Enter the amount you can save every month.
- Enter the expected annual return.
- Enter the number of years you will save.
- Click Calculate and compare the result with your goal amount.
Frequently asked questions
How is the future value of monthly savings calculated?
Each monthly deposit grows for the time remaining until the end. The calculator sums the growth of the starting balance plus every monthly deposit at the monthly rate.
What return should I assume?
Be conservative. A savings account rate is low and stable; an investment return is higher on average but not guaranteed and can fall in some years.
What if I miss a month?
Missing deposits lowers the final amount, especially early deposits that have the longest time to grow. The calculator assumes every monthly deposit is made.
How do I reach a goal faster?
Save more each month, start earlier, or extend the time horizon. Small increases early often beat large increases late.