Savings Calculator – See How Your Money Grows
Find out how much your savings will be worth over time. Enter your initial deposit, monthly contributions, interest rate, and time period to see your final balance and total interest earned.
How to Use
- 1
Enter your initial deposit and monthly contribution amount
- 2
Enter the annual interest rate and number of years
- 3
See your projected final balance and total interest earned
Frequently Asked Questions
What is compound interest?
Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods. It makes savings grow faster over time.
How often is interest compounded?
This calculator uses monthly compounding, which is standard for most savings accounts.
What if I have no monthly contribution?
Leave the monthly contribution at 0. The calculator will show growth based on your initial deposit alone.
Is this an exact prediction of my savings?
No. This is an estimate based on a fixed rate. Real interest rates vary over time.
How this is calculated
Future value = P × (1 + r)ⁿ + monthly deposits compounded at the same rate
Where
- P is the starting balance
- r is the annual rate ÷ 100 ÷ 12, i.e. the monthly rate
- n is years × 12, i.e. the number of months
What this assumes
- Interest is compounded monthly and deposits are treated as arriving once per month.
- At a rate of zero the result is simply the starting balance plus all deposits.
This is a calculation, not financial advice.
Plan towards a savings goal
A savings calculator shows how your balance grows when you put money aside regularly. Enter a starting amount, a monthly contribution, an interest rate and a time frame, and it projects what you will have saved.
It turns a vague goal into a concrete plan you can actually follow.
Savings goals worth modelling
- Saving for a holiday, a deposit or an emergency fund.
- Seeing how a bigger monthly amount speeds things up.
- Staying motivated with a clear target.
- To see compounding in detail use the compound interest calculator; for returns, the ROI calculator.
Private projections
All figures are calculated in your browser and are estimates, not financial advice.