Project your savings with regular deposits, find the deposit you need, or how long it takes to reach a goal.
| Year | Contributions | Interest | Balance |
|---|---|---|---|
| 1 | $8,000.00 | $292.35 | $8,292.35 |
| 2 | $11,000.00 | $735.96 | $11,735.96 |
| 3 | $14,000.00 | $1,337.76 | $15,337.76 |
| 4 | $17,000.00 | $2,105.03 | $19,105.03 |
| 5 | $20,000.00 | $3,045.37 | $23,045.37 |
Please do not make financial decisions based on these results.
What is the Savings Calculator?
A savings calculator projects your balance with regular deposits and interest, finds the deposit you need for a goal, or tells you how long a goal will take.
Where the Savings Calculator fits
Project your savings with regular deposits, find the deposit you need, or how long it takes to reach a goal. The main figure it returns is the Ending balance, worked out from the values you enter.
It belongs with the other investment tools. If you are comparing options or checking a result from another angle, try the Payback Period Calculator, Sinking Fund Calculator or the Interest Rate Calculator.
How to use the Savings Calculator
- Enter your numbers. Start with Starting amount ($), Additional contribution ($), Length of time: years, then fill in Savings interest rate (% APY). Use a rate of return you consider realistic; small changes compound into large differences. Fields marked optional can stay at zero.
- Choose your options. Calculate, Contribution frequency, Contributions are made at the… change how the result is worked out, and the form updates to match your choice.
- Read the result. The highlighted box gives the Ending balance, and the cards below show Starting amount, Total contributions, Total interest earned. Tables and charts break it down further.
- Test other scenarios. Results update as you type. Change one value at a time to see what drives the answer, and press Reset to go back to the defaults.
Formula and how it works
Example with real numbers
Here is the Savings Calculator using the default values shown in the calculator above:
Inputs
| Calculate | Ending balance |
|---|---|
| Starting amount ($) | 5,000 |
| Additional contribution ($) | 250 |
| Contribution frequency | Monthly |
| Contributions are made at the… | End of each period |
| Length of time: years | 5 |
| Savings interest rate (% APY) | 4.5 |
| Compounding | Monthly |
Results
| Ending balance | $23,045.37 |
|---|---|
| Starting amount | $5,000.00 |
| Total contributions | $15,000.00 |
| Total interest earned | $3,045.37 |
With these inputs the calculator returns Ending balance: $23,045.37. Change any value in the calculator to see how the result moves.
What the results tell you
The results panel of the Savings Calculator reports Ending balance, starting amount, total contributions and total interest earned. Compare these figures while changing one input at a time, and use the related calculators below to look at the same situation from another angle.
Tips for better results
Method and limits. This calculator applies the formula in the section above to your inputs, in your browser; nothing you enter is stored on our servers. Investment returns are not guaranteed. The result shows what the numbers you enter would produce, not what the market will do. It is for information, not financial, tax or legal advice.
Frequently asked questions
Can I enter my APY?
Yes. Enter the APY as the rate and choose how it compounds.
What is APY?
APY (annual percentage yield) is the interest rate including compounding. Enter it as the rate to model a savings account.
Are investment returns guaranteed?
No. Real returns vary. Use these tools to compare scenarios, not to predict results.
What is the difference between simple and compound interest?
You choose it in the compounding field of this calculator: daily, weekly, monthly, quarterly, semiannual, annual or continuous.
Are the results guaranteed?
No. Results depend entirely on the numbers you enter and the formulas shown on this page. Please do not make financial decisions based on them alone; confirm important figures with a licensed professional.
Related investment calculators
- Payback Period Calculator
- Sinking Fund Calculator
- Interest Rate Calculator
- Investment Calculator
- Future Value Calculator
- CAGR Calculator (Compound Annual Growth Rate)
- EAR Calculator
- Compound Growth Calculator
- Money Market Account Calculator
- Compound Interest Calculator
- CD Calculator
- Bond Calculator
Guides that use this calculator
- How Long Does It Take to Save $1 Million?
- Savings Account vs CD: Which Earns More for Your Cash?
- The 50/30/20 Budget Rule: How It Works, and How to Adjust It
- How Much Emergency Fund Do You Need? A Month-by-Month Plan
- High-Yield Savings Accounts: APY, Insurance Limits and What You Really Earn
- Sinking Funds: How to Save for Irregular Expenses Without Wrecking Your Budget
- Pay Yourself First: How to Automate Saving So You Actually Do It
- 529 College Savings Plans: How Much to Save and How the Tax Rules Work