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FinanceFormula-based · Runs in your browser

Savings Calculator

Estimate savings growth and check an optional savings goal.

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Inputs

Enter the values you know. Optional fields may be left empty.

Local save controls below
Required
$
Optional
$
Required
%
Required
Optional
$

Result

Updates as valid inputs change.

Calculated locally
Future balance
—
Total deposits
—
Interest earned
—
Goal
—

Saved locally, explained clearly

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Calculation steps

Follow what happened from the selected formula to the displayed answer.

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Calculate current inputs to see the working.
  1. 1

    Formula selected

    The calculator uses the following formula or method.

    Balanceₙ = Balanceₙ₋₁ × (1 + r/12) + monthly deposit

    Deposits are added at the end of each month.

  2. 2

    Values entered

    Your values are placed into the calculation.

    Enter values to see what is used in this step.

  3. 3

    Result calculated

    The formula or method produces the following result values.

    Results will appear after a successful calculation.

  4. 4

    Answer formatted

    Displayed values are rounded and formatted using each output’s configured precision.

Scenario comparison

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Data and privacy

How it works

The balance grows monthly at the entered annual rate. The monthly deposit is added at the end of each month.

Input query strings and outputs

Use an input name in this page’s URL as ?name=value, and join additional inputs with &. Portable shared links may instead use the compact ?ac= state parameter.

Input query strings

5
  • ?initial= Current savings

    Money · Required · Default: 1,000

  • ?monthly= Monthly deposit

    Money · Optional · Default: 200

  • ?annualRate= Annual interest

    Percentage · Required · Default: 4.5

  • ?years= Years

    Number · Required · Default: 10

  • ?goal= Savings goal

    Money · Optional

Outputs

4
  • futureBalance Future balance

    Currency · Primary output

  • totalDeposits Total deposits

    Currency

  • interestEarned Interest earned

    Currency

  • goalStatus Goal

    Text

Optional goal

Enter a goal to see when the projected balance reaches it. If the goal is not reached in the selected time, the remaining shortfall is shown.

Limits

Bank rates can change. This result does not include fees, taxes, or withdrawal activity.

Sources
Limitations
  • Deposits are added at the end of each month.
  • Estimates use the rates, timing, and assumptions entered. Fees, taxes, lender rules, and future changes are included only where explicitly shown.

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