🐖 Savings Calculator
Enter a starting balance, monthly deposit, interest rate, and time period to project your future savings balance.
Projected balance
How the Savings Calculator works
Combines your starting balance's compound growth with the compound growth of your ongoing monthly deposits to project a total future value.
FV = P × (1 + i)^m + D × ((1 + i)^m − 1) ÷ i
(i = yearly rate ÷ 12, m = months, D = monthly deposit at month end)
Step-by-step calculation
- 1Enter starting balance and monthly deposit.
- 2Enter the interest rate and years.
- 3Both grow with monthly compounding.
Worked example
$5,000 plus $300 a month at 4% for 10 years grows to about $51,629.
Savings Calculator examples
| Starting balance ($) | Projected balance |
|---|---|
| 500 | ~$47,408 (estimate) |
| 750 | ~$47,820 (estimate) |
| 1,000 | ~$48,232 (estimate) |
| 1,250 | ~$48,643 (estimate) |
| 1,500 | ~$49,055 (estimate) |
Other inputs kept at the calculator's default values. Results calculated by this calculator.
Why use a Savings Calculator?
Plan savings goals and see the power of regular deposits.
Important factors that can affect your results
- Changing interest rates.
- Missed deposits.
- Inflation reduces real value.
Frequently asked questions
What interest rate should I use?
Use your actual savings account or investment's expected annual rate — check your bank or brokerage for the current rate.
Can I model $0 monthly deposits?
Yes — set monthly deposit to 0 to see pure compound growth on a lump sum alone.
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Last reviewed November 2026 · How we build and check our tools · Report a problem