Finance Tools

Savings Goal Calculator

Find out how long to reach your savings target or what monthly amount you need.

Runs in your browser

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Time to Reach Goal

Required Monthly Savings

Per month for

Total Contributions

Interest Earned

Contributions vs Interest

Contributions Interest

Year-by-Year Progress

Year Balance Contributions Interest Progress

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What is the Savings Goal?

The Savings Goal Calculator tells you exactly how much you need to save each month to reach a specific financial target by a certain date. Whether you are saving for a house deposit, a vacation, a car, or an emergency fund, knowing your required monthly contribution removes guesswork and keeps you on track. It also accounts for interest earned on your savings.

How to use the Savings Goal

  1. Enter your savings goal - the total amount you want to reach.
  2. Input how much you have already saved toward this goal.
  3. Set your target date or the number of months you have to save.
  4. Enter the annual interest rate of your savings account (use 0 if no interest applies).
  5. Click Calculate to see the required monthly deposit and a projected savings timeline.

Frequently asked questions

Extend your target date, reduce the goal amount, or look for a higher-yield savings account. Even small increases to your monthly contribution can meaningfully shorten the timeline.
Yes. If you enter a savings interest rate, the calculator assumes monthly compounding and reduces the required monthly contribution accordingly.
For goals more than five years away, consider using a real interest rate (nominal rate minus expected inflation) to ensure your savings target keeps pace with rising costs.