Free Savings Calculator
Enter your starting balance, monthly deposit, interest rate and time horizon to project your savings — with total deposited, interest earned and a year-by-year table.
How to Use the Savings Calculator
- Enter initial savings and monthly deposit.
- Enter the annual interest rate and time horizon.
- Click Project Savings for the balance and yearly table.
Features
Compounds monthly on both the initial balance and each deposit, then tabulates yearly balances so you can see steady contributions snowball.
Benefits & Use Cases
Savers set emergency-fund targets, compare high-yield accounts, and show kids how small regular deposits grow.
Tips
Rate-chase wisely: a 1% better rate matters less than consistently depositing. Automate the transfer so willpower isn’t required.
Frequently Asked Questions
How is the balance projected?
Monthly compounding on the starting balance plus the future value of monthly deposits.
What is a good savings rate?
Compare high-yield savings accounts and money markets; anything well above 0% beats idle cash.
Does it account for inflation?
No — for long horizons, remember inflation erodes purchasing power ~2–3% yearly.
Lump sum vs monthly deposits?
Both help; the table shows exactly how each contributes to the final balance.
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