Savings Goal Calculator

Set a savings goal, enter what you already have and the interest rate, then choose your question: how many months it will take at a given monthly deposit, or how much to deposit each month to hit the goal by a target date. Interest is compounded monthly.

How to use the Savings Goal Calculator

1. Choose "How long will it take?" or "How much per month?".
2. Enter your goal, current savings and interest rate.
3. Enter your monthly deposit, or pick a target date.
4. Press Calculate to see the time or deposit needed and the interest earned.

Features

• Two modes: time to goal and deposit needed
• Monthly compounding with end-of-month deposits
• Estimated completion month based on today's date
• Total deposits and interest earned

Benefits

• Turn a big goal like a house deposit into a monthly number
• See how interest shortens the time to your target

Frequently asked questions

How is the time to reach a goal worked out?

It solves the future-value formula for the number of months, n = ln((G·r + D) ÷ (S·r + D)) ÷ ln(1 + r), then rounds up to the next whole month.

What if my current savings already reach the goal?

The calculator tells you the goal is already reached, or that no monthly deposit is needed by the target date.

Is the interest guaranteed?

No. Rates on savings accounts can change. Results are estimates for planning and education, not financial advice.

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