Savings Calculator
Saving grows from two forces: the money you put aside and the compounding that earns returns on money already saved. This calculator combines your starting balance, regular contribution, annual rate, compounding frequency and time horizon, then shows how much of the final balance comes from deposits and how much comes from interest.
How to project your savings
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1
Enter your starting balance
Use the cash you already have saved, or enter 0 if you are starting from scratch.
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2
Add regular contributions
Enter the amount you plan to add each month or year, then choose whether deposits happen at the start or end of each period.
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3
Set the annual rate
Use an annual effective rate such as APY or AER when you have it, then choose how often interest compounds.
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4
Choose the term
Pick any number of years. The projection updates to show balance, contributions and estimated interest year by year.
How compound interest changes the result
Compounding can look modest in the first few years and powerful over longer periods. The difference between saving earlier and saving later is not linear. Each year of growth has a chance to earn on the interest from previous years.
Future value of $200 per month at 6% APY
| Term | Total deposited | Interest earned | Ending balance |
|---|---|---|---|
| 10 years | $24,000 | $8,819 | $32,819 |
| 20 years | $48,000 | $44,398 | $92,398 |
| 30 years | $72,000 | $128,898 | $200,898 |
| 40 years | $96,000 | $297,720 | $393,720 |
The monthly deposit and annual rate stay the same. Time does most of the heavy lifting because later interest is earned on a larger balance.
The core formula
For equal contributions made at the end of each period:
FV = P x (1 + r)^n + C x (((1 + r)^n - 1) / r)
Where P = starting balance, C = contribution per period, r = rate per period (annual rate / periods per year) and n = total number of periods.
Practical tips
- Start earlier when you can. Extra years at the beginning often beat a much larger monthly contribution later.
- Use a real return for planning. If inflation is 3% and your savings earn 4%, the estimated real return is about 1%.
- Match the compounding frequency. A monthly savings account, an annual fixed deposit and a daily-interest account can produce different outcomes at the same headline rate.
- Check taxes and fees. Local tax-advantaged accounts, fees and withdrawal rules can change the result, so treat the projection as an estimate rather than a promise.
Frequently Asked Questions
APY includes the effect of compounding on savings returns. APR is usually used for borrowing costs and does not show the same compounding benefit. For savings projections, use APY or your local annual effective rate when it is available.
Not automatically. It shows nominal growth. To estimate real growth, subtract expected inflation from the annual rate and enter that net figure.
Start-of-period deposits get one extra period of compounding, so they usually produce a higher balance over long horizons. End-of-period is closer to many manual transfer schedules.
No. The projection is calculated in your browser, and the figures you enter stay on your device.
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