Use our savings calculator to see how quickly your savings can grow.
Start by entering the initial amount you set aside for savings. After that, enter how often you want to make contributions to your savings and how much you’ll add each time. Finally, enter the interest rate, how often the interest is compounded, and how long you plan to save the money. See how much you’ll save and how much interest you’ll earn!
How to use the calculator:
Fill in the required fields and click on the “Calculate” button to see the results. Here’s what each of the fields means:
- Initial deposit: the initial amount deposited.
- Regular contribution amount: the amount you use to contribute to your savings on a regular basis.
- Deposit frequency: how often you deposit money.
- Interest rate: the percentage that the account pays you.
- Interest Compounds: the compounding frequency of interest.
- Over a period of: the number of years in which you want to save.
- Final Balance: the total amount of money, including initial deposit, interest and contributions.
- Total contributions: the total amount you contributed to your savings after the initial deposit.
- Total interest earned: the total amount that the account paid you.
🧩 Get this calculator as a Chrome Extension
This calculator does not account for inflation and income taxes.
📘 Learn more about why, how and where to save your money: Saving Money 101: The Road to Financial Independence