Savings calculator

Project your savings balance and goal timeline.

Last updated: January 9, 2026

Built and maintained by Aaron Jegla

Model regular deposits and compounding interest to estimate how much you can save.

Use this savings calculator to estimate how long it may take to reach a specific savings goal, compare different contribution frequencies, and see how compounding interest affects long-term growth.

Savings details

Enter what you already have saved (use $0 if starting fresh).

This is the amount you plan to deposit each period.

Only used when contributions are above $0.

Use the nominal APR from your savings account or CD.

Compounding affects the APY you earn from the APR.

Use years. Decimals are ok (ex: 7.5).

If set, we estimate when you can reach it.

For personal savings accounts and CDs.

Not for investments with variable returns. Try our other calculators for investing scenarios.

How to use this calculator
  1. Enter your starting balance and regular contribution.
  2. Choose how often you deposit and how often interest compounds.
  3. Set the annual APR and time horizon.
  4. Add a savings goal if you want a timeline estimate.

Select Calculate to see the summary and growth table.

Summary

Results are estimates for compounding savings growth. Total added combines your starting balance and contributions.

Ending balance

$0

Total added (incl. starting balance)

$0

Total interest earned

$0

Goal timeline

Not set

Compounding: Monthly | Contributions: No contributions | Goal: Not set

Sources: Investor.gov compound interest calculator, Experian APY explanation

Assumptions: Fixed annual APR for the full term. Interest compounds at the selected frequency. Contributions are added at the end of each contribution period and begin earning interest after they are added. No withdrawals are included.

Validation: This calculator is tested against real savings account scenarios and benchmarked against Investor.gov and bank APY disclosures to ensure accurate compounding behavior.

Disclaimer: Estimates only and not financial advice. Actual results depend on rate changes, fees, taxes, and deposit timing.

Savings breakdown

See how your balance splits between starting amount, contributions, and interest.

Starting balance $0
Added contributions $0
Interest earned $0
Effective APY 0%
Total saved $0
Compounding Monthly (12x/year)
Goal line Not set

Growth summary

Totals based on your inputs.

Year Starting balance Contributions Interest earned Ending balance

How this calculator works

Compound interest grows the balance and contributions over time.

Base growth uses the compound interest formula:

Ending balance = P * (1 + r / n)^(n * t)

  • P is the starting balance.
  • r is the annual interest rate (as a decimal).
  • n is the number of compounding periods per year.
  • t is the time in years.

Regular contributions are added at the end of each contribution period and start earning interest after they are added. The calculator simulates each period so contribution and compounding schedules stay aligned.

Savings insights and assumptions

Quick context to help you interpret the results.

Goal-based saving

A goal gives you a concrete target and makes it easier to pick a contribution amount.

  • Use the goal timeline to sanity-check your plan.
  • Shortfalls tell you how much to adjust.

Contribution timing

This model adds contributions at the end of each period. Deposits made earlier can earn slightly more.

  • Consistency matters more than perfect timing.
  • Switching to bi-weekly deposits can speed up growth.

APR vs APY

APR is the nominal rate. APY reflects compounding.

  • Input the nominal APR and let the calculator derive APY.
  • Compounding frequency drives the APY you actually earn.

Rate changes

Savings rates can move over time, especially in high-rate environments.

  • Update the rate as your bank adjusts it.
  • Use multiple scenarios to bracket outcomes.

Emergency vs long-term

Short-term savings prioritize liquidity over yield.

  • Emergency funds may not chase the highest rate.
  • Longer-term goals can tolerate slower access.

Example inputs to try

Use these to sanity-check the math before adjusting.

  • $5,000 at 4% with $200 monthly for 10 years
  • $0 at 3.5% with $100 weekly for 5 years
  • $15,000 at 4.5% with $250 monthly for 8 years

Savings calculator FAQs

Click a question to expand the answer.

Does this use APR or APY?

Enter the nominal APR. The calculator shows the effective APY based on your compounding frequency.

When are contributions applied?

Contributions are added at the end of each contribution period and begin earning interest after they are added.

How is the goal timeline calculated?

The calculator simulates each contribution and compounding period until your balance reaches the goal. If the goal is not reached within 100 years, it shows as not reached.

What if my interest rate is 0%?

At 0% interest, the ending balance equals your starting balance plus any contributions you add.

Does this include taxes, fees, or inflation?

No. This calculator shows pre-tax growth with no fees or inflation adjustments. Use it as a directional estimate.

Why might my bank statement differ?

Real-world balances can differ because of daily compounding rules, variable rates, fee schedules, and the exact timing of deposits.

Can I model withdrawals or irregular deposits?

Not yet. This calculator assumes consistent deposits with no withdrawals. Use it as a clean baseline.

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