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Savings Calculator

Find out how much your savings will grow with a starting amount, monthly deposits, and interest. The savings calculator also tells you how long it takes to reach a goal.

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Future balance
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Estimate only. Not financial advice.

How to use the Savings Calculator

  1. Enter the Starting amount, Monthly deposit, Interest rate, and number of Years.
  2. Choose whether deposits are made at the start or end of each month, and add a Savings goal if you have one.
  3. Press Calculate. The future balance appears with your total deposits, the interest earned, and the time to reach your goal.

How it works

FV = P × (1 + i)^n + D × ((1 + i)^n − 1) ÷ i
deposits at the start: the D part × (1 + i)
  • P: starting amount
  • D: monthly deposit
  • i: yearly rate ÷ 12
  • n: number of months

For a goal, the calculator steps month by month until the balance reaches it.

Examples

  • $1,000 plus $200 a month at 5% for 10 years, deposits at the end of the month: $32,703.47.
  • The same plan with deposits at the start of each month: $32,832.87.
  • Saving $500 a month at 4% from zero reaches $50,000 in 87 months, a little over 7 years.

Deposits do most of the work early on

In the first years, most of the balance is money you put in. Interest catches up slowly, then faster, because it is earned on a growing pile. That is why starting a few years earlier often beats saving a larger amount later.

Limitations

  • The rate stays fixed for the whole period. Savings rates change.
  • Taxes on interest and inflation are not included.
  • Interest is compounded monthly.

Sources and method review

The model uses the entered nominal annual rate divided by 12, monthly compounding and deposits at the selected start or end of each month. The SEC's compound interest calculator identifies principal, regular contributions, estimated rate and compounding frequency as separate inputs. An account's quoted APY already includes compounding, so do not treat APY as a nominal rate without conversion. This projection assumes a constant rate and excludes taxes, fees and inflation.

Technical content review: 27 October 2026. The documented method and assumptions were compared with the calculator code and the cited source. This is not a review by a licensed financial or tax adviser.

Frequently asked questions

How much will I have if I save $200 a month?

Starting with $1,000 at 5% for 10 years, about $32,703. Without interest it would be $25,000.

Does it matter when in the month I deposit?

A little. Depositing at the start gives each deposit one more month of interest.

How long will it take to reach my goal?

Enter a savings goal and the calculator shows the months needed at your deposit and rate.

Often used together with Savings Calculator.