Savings Calculator
Enter what you have now, how much you will save each month, an interest rate and the time. We project your balance and show the year-by-year growth.
This calculator gives estimates for information only. It is not financial, tax or legal advice. Real results depend on lender terms, fees and local rules.
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The formula
Balance grows each month: new balance = old balance x (1 + monthly rate) + monthly deposit.
Setting a savings goal
Decide what you are saving for and when you need it. A goal such as 10,000 in three years is easier to plan than "save more". Try different monthly amounts until the final balance reaches your target.
Example
Saving 300 a month at 4 percent for 5 years, starting from nothing, gives about 19,900, of which 18,000 is your contributions and roughly 1,900 is interest.
Where to keep it
Short-term goals belong in an easy-access or fixed-term savings account where the money is protected. Long-term goals can use investments, which can earn more but can also lose value.
Examples to check
Type these into the calculator above to see how it behaves. Every result below was produced by the same calculator code that runs on this page.
| What you enter | What you get |
|---|---|
| Monthly contribution ($): 300; Annual interest rate (%): 4; Time (years): 5; Monthly | Future value: $19,889.69 |
| Starting balance ($): 2000; Monthly contribution ($): 150; Annual interest rate (%): 3.5; Time (years): 3; Monthly | Future value: $7,906.04 |
| Starting balance ($): 10000; Monthly contribution ($): 500; Annual interest rate (%): 5; Time (years): 10; Monthly | Future value: $94,111.23 |
Savings Calculator: frequently asked questions
What is the difference between APR and APY?
APR is the stated yearly rate. APY includes the effect of compounding, so it is a little higher if interest is added more than once a year. We show the APY under the result.
Is this financial advice?
No. It gives an estimate from the numbers you enter. Real offers depend on fees, tax and the lender or provider, so check the terms before you commit.
Is what I enter in this calculator saved or sent anywhere?
No. The calculation runs in your browser, so what you enter is not sent to our servers. We only count, anonymously, whether a tool ran successfully.
Is this calculator free to use?
Yes. It is free, needs no sign-up and has no usage limit.
Last reviewed: October 3, 2026