Savings Calculator helps you estimate how your savings will grow over time based on your contributions and interest rate. Quickly see your future balance and total interest earned.
Savings Calculator
How This Savings Calculator Works
This tool calculates your future savings using compound interest and recurring monthly deposits. Even small monthly contributions grow significantly with consistent saving and interest accumulation.
What This Savings Calculator Shows
- Total future savings value
- Total contributions over time
- Total interest earned
- Growth from initial savings + monthly deposits
Formula Used
This calculator uses the combined future value formulas for:
- Lump-sum compound growth: FV = P(1 + r)n
- Monthly contributions: FV = PMT × ((1 + r)n − 1) / r
Why Use a Savings Calculator?
It helps you plan financial goals, estimate emergency funds, and understand how regular saving grows over time.
Examples
- $2,000 start + $200/mo for 10 years at 6%: $33,756
- $5,000 start + $0 monthly for 5 years at 7%: $7,012
Related Tools
FAQs – Savings Calculator
How do I calculate future savings?
Enter your starting amount, monthly contributions, interest rate, and number of years to see your total savings.
Does this calculator use compound interest?
Yes. Your balance grows with monthly compounding.
Do I need monthly contributions?
No. You can calculate growth with only a lump-sum starting amount.
Is this savings calculator accurate?
Yes. It uses industry-standard future value formulas.
Can I use this for budgeting?
Yes. It helps plan savings goals such as emergency funds and long-term investments.