Savings Calculator
Project your savings balance and find out how long it takes to hit a target amount.
How to use: Enter what you have saved, how much you add each month and the interest rate to see your future balance.
How to use the Savings Calculator
Saving is easier when you can see the finish line. This calculator shows what your balance could be after a set number of years and, if you enter a target, exactly how long it will take to reach it.
Start with what you have saved today, then add a realistic monthly deposit. The interest rate should match your savings account or investment option; high-yield savings accounts often pay noticeably more than standard ones. Interest is compounded monthly and each deposit is added at the end of the month.
The yearly table lists your total deposits next to the balance so you can see how much of your final amount comes from interest. If the goal timeline is longer than you would like, increase the monthly deposit and watch how the date moves closer.
Good targets include an emergency fund of three to six months of expenses, a house down payment, or a holiday fund. Because interest rates change, revisit the numbers regularly. This estimate ignores taxes and inflation, so treat it as a guide rather than a guarantee.
Frequently asked questions
How much should I save each month?
A common starting point is 20% of take-home pay, but any consistent amount helps. Use the goal field to find a deposit that reaches your target on time.
Is the interest rate fixed?
The calculator assumes a constant rate. Real savings rates can change, so recheck your plan periodically.
Does it include taxes?
No. Interest may be taxable depending on where you live, so your real balance could be slightly lower.