Finance calculator

Savings Calculator

See how your savings grow from a starting amount and regular deposits — or work out how much to save to hit a goal. Handles monthly and annual contributions, APR or APY, any compounding frequency, tax, and inflation, with charts, a full schedule, and a downloadable Excel workbook, in your currency.

Transparent assumptions Projection & goal modes 7 currencies APR or APY, any compounding 9-sheet Excel report
Project my savings How it works

Results depend on APY, compounding, taxes, fees, and inflation.

A savings calculator estimates your future balance by combining your starting amount, regular deposits, interest rate, compounding frequency, taxes, and time. It helps you see how much you will contribute, how much interest you may earn, and whether you are on track for a savings goal.

Calculator

What do you want to work out?

Projection

Enter your numbers

$

Your starting balance — can be 0.

$

Deposited every month over the whole period.

%

Use the rate your bank quotes.

yrs

Up to 75 years.

Advanced: tax, inflation, compounding, contribution growthAPR · Monthly · end
Rate type

Choose how often interest compounds below.

Contribution timing
%

0 for tax-free accounts.

%

For today's-money value.

%/yr

Step up the monthly amount each year.

$

Added once a year.

%/yr

Step up the annual amount each year.

After 5 years

Projected future balance

$14,885

5.12% effective annual (monthly APR) · 5 yrs · end of period

Future balance

$14,885

before tax

Total deposits

$13,000

87% of balance

Gross interest earned

$1,885

13% of balance

What makes up the $14,885 balance

Initial $1,000 (7%)Contributions $12,000 (81%)Interest $1,885 (13%)

A 9-sheet workbook: summary, assumptions, yearly & monthly schedules, scenarios, goal planner, charts data, methodology and sources — built from your exact inputs.

Estimate only. Actual results depend on bank APY, compounding method, taxes, fees, inflation, and contribution timing.

What your result means

Plain-English notes generated from your inputs — not financial advice.

Your money added

Of the $14,885 projected balance, $13,000 (87%) is money you put in yourself, and $1,885 (13%) is interest the bank adds.

Interest earned

The balance earns $1,885 in interest — a meaningful 13% of the total. Both your contributions and compounding are contributing.

What to change first: time, contribution, or rate

Because your own contributions are most of the balance, the fastest lever is usually saving more each month — the rate matters less over 5 years. A higher rate helps, but real, guaranteed savings rates are limited; the levers you control most are how much you add and how long you leave it.

Visual breakdown

How the balance builds from your deposits and interest. Each chart has a data table for exact figures.

Balance over time — deposits, interest & tax

Your contributions and interest, stacked to the nominal balance each year.

The balance grows to $14,885 — $13,000 you contributed plus $1,885 net interest.

Show data table
Balance over time — deposits, interest & tax
YearDepositsInterestTax
1$3,400$107$0
2$5,800$342$0
3$8,200$712$0
4$10,600$1,224$0
5$13,000$1,885$0

Ending balance each year

The running balance at the end of every year.

Reaches $14,885 after 5 years.

Show data table
Ending balance each year
YearBalanceAfter tax
1$3,507$3,507
2$6,142$6,142
3$8,912$8,912
4$11,824$11,824
5$14,885$14,885

Deposits vs interest each year

How much you add versus how much interest is earned, year by year.

Interest grows from a small share early on to $661 in the final year as the balance compounds.

Show data table
Deposits vs interest each year
YearDepositsInterest
1$2,400$107
2$2,400$235
3$2,400$370
4$2,400$512
5$2,400$661

What makes up the final balance

Your initial deposit, ongoing contributions, and the interest they earn.

87% of the balance is money you saved and 13% is interest.

Show data table
What makes up the final balance
PartAmount
Initial deposit$1,000
Contributions$12,000
Interest$1,885

Year-by-year schedule

Each year’s starting balance, deposits, interest, and ending balance.

Savings balance growth by year
YearStartDepositsInterestEnd balance
1$1,000$2,400$107$3,507
2$3,507$2,400$235$6,142
3$6,142$2,400$370$8,912
4$8,912$2,400$512$11,824
5$11,824$2,400$661$14,885
Month-by-month schedule60 months · deposit, interest, balance

Compare scenarios

How the projection changes if you save more, the rate moves, inflation rises, or tax is removed — all else equal.

Savings scenario comparison
ScenarioResultInterestDiff vs baseWhat it shows
Base case$14,885$1,885—Your inputs exactly as entered.
Monthly +10%$16,245$2,045+$1,360Saving 10% more each month adds $1,360 to the balance.
Monthly +25%$18,285$2,285+$3,400Saving 25% more each month adds $3,400.
Rate −1%$14,481$1,481−$404A 1-point lower rate reduces the balance by $404.
Rate +1%$15,303$2,303+$418A 1-point higher rate adds $418.
Inflation +1%$14,162today’s money$1,885−$722Higher inflation cuts the real value to $14,162 in today's money — about $722 less than your base in real terms.

Based on your base inputs ($14,885 future balance). Inflation and tax rows are shown in real / after-tax terms; the rest are nominal. Full scenarios are in the downloadable workbook.

Future balance$14,885
Result
Jump to a section

How to read your result

The future balance splits into two parts worth comparing: your total deposits and the interest earned on top. Over most realistic savings-account horizons, your own contributions do most of the work — interest is a supporting player, not the main driver, which is why the scenario table comparing "save more" against "earn more" usually favors saving more. If you entered a tax rate or an inflation rate, the after-tax and real (today's-money) figures sit alongside the nominal balance so you can see what actually reaches your pocket and what it will actually buy. Switch to goal mode to flip the question around: enter a target and the calculator solves the monthly deposit that gets you there.

The formulas, in plain English

Future balance

start × (1+i)ⁿ + PMT × ((1+i)ⁿ − 1) / i

i is the periodic rate, n the number of periods, PMT the regular deposit. Begin-of-period deposits earn one extra period of interest.

APR → APY

APY = (1 + APR/m)^m − 1

m is the number of compounding periods a year. The schedule then compounds at the monthly equivalent.

Goal: required saving

PMT = (target − start·(1+i)ⁿ) / annuity factor

Solves the monthly deposit that reaches a target, given a starting balance and rate.

Worked example

Start with $1,000, add $200 a month, at 5% APR compounded monthly for 5 years. You contribute $13,000 in total, and the balance grows to about $14,885 — roughly $1,885 of interest. Most of the result is your own saving, which is typical over a short horizon; interest becomes a larger share of the total only over much longer periods, once earlier interest has had time to compound on itself.

Assumptions

  • The balance is simulated month by month; interest compounds using the monthly equivalent of the effective annual rate, so the schedule and the headline always reconcile.
  • An APR is converted to an effective annual rate (APY) at the chosen compounding frequency; an APY is used as entered, with the frequency then informational.
  • Monthly contributions are added every month; an annual contribution is added once a year. Each can step up yearly by its increase rate.
  • Tax is estimated as a flat rate on the interest earned and shown as a deduction; inflation discounts the future balance to today’s money as nominal ÷ (1 + inflation)^years.
  • Goal mode solves the required saving for a before-tax balance.

Limitations

  • Savings rates are usually variable; this tool assumes a constant rate over the whole period.
  • It does not model fees, minimum-balance rules, bonus-rate periods, early-withdrawal penalties, or withdrawals during the term.
  • Tax is a simplified flat estimate; real tax depends on your jurisdiction, income, and account type.
  • It is for interest-bearing savings, not volatile market investments — do not treat an assumed rate as a guaranteed return.

Not a guarantee. Estimate only. Actual results depend on bank APY, compounding method, taxes, fees, inflation, and contribution timing. For interest that you want guaranteed, use the rate, terms, and day-count in your account’s own disclosure, and for market investing use the regular investment calculator.

Frequently asked questions

How do I calculate future savings?

Combine your starting amount, your regular deposits, an interest rate, a compounding frequency, and the number of years. The balance compounds each period and your deposits are added on; the future balance is your total deposits plus the interest earned. Enter your numbers above and the calculator shows the result, a chart, and a year-by-year schedule.

What is the difference between APR and APY?

APR is a nominal annual rate quoted before compounding; APY (the effective annual rate) already includes the effect of compounding within the year, so it is the true yearly rate. For the same APR, more frequent compounding gives a higher APY. Banks usually advertise savings as APY — choose the matching rate type so the math is correct.

Should I include tax on savings interest?

If your interest is taxable, include it — tax reduces what you keep and slightly slows growth. Enter your marginal tax rate on interest to see the tax, the net interest, and the after-tax balance. If your savings are in a tax-free or tax-advantaged account, leave the tax rate at 0.

How does inflation affect savings?

Inflation erodes purchasing power, so a future balance buys less than the same amount today. Enter an inflation rate to see the real (today’s-money) value next to the nominal balance. If inflation is higher than your savings rate, the real value can fall even as the nominal balance grows.

How much should I save each month?

Use goal mode: enter your target and time horizon and the calculator solves the monthly (or annual) amount needed at your assumed rate. Enter what you currently save to see whether you are on track. The right number depends on your goal, income, and timeline — there is no universal figure.

Related calculators

Tools that build on the same saving and interest math:

  • Compound Interest CalculatorSee how savings grow as interest earns interest, with adjustable contributions and compounding frequency.
  • Investment CalculatorProject lump-sum and regular-contribution growth, plan a goal, and solve future vs present value, with fees and inflation.
  • Retirement CalculatorProject your retirement pot from current savings, contributions, and growth, and gauge whether it meets your goal.
  • Regular Investment CalculatorProject how regular monthly contributions grow over time — SIP-style investing, dollar-cost averaging, inflation-adjusted value, and long-term goals.
  • 401(k) CalculatorProject a 401(k) balance with employer match, 2026 IRS limits, fees, inflation, and a match maximiser.

Read the guide

For how compounding works with regular deposits, worked through step by step, see How Compound Interest Works With Regular Contributions.

Finance disclaimer

This calculator is for educational and estimation purposes only. It is not financial, tax, legal, or investment advice. Projections are based on the assumptions you enter — savings rates can change at any time, tax rules vary by country and account type, inflation is an assumption, and actual bank APY, fees, minimum-balance rules, and withdrawal limits may differ. Use the current rate quoted by your bank, and verify important numbers with a qualified professional before making decisions.

How we calculate · Found an error? email us

Authorship & verification

Written and maintained by

  • Formula and examples verified on 15 June 2026
  • Educational estimate only

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