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Savings Calculator

See how your savings grow with compound interest. Enter your initial balance, monthly contribution, interest rate, and time horizon to project your future balance.

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Savings Details
Future Balance
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Total Contributions
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Interest Earned
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Total Return
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Contributions vs Interest
Contributions: — Interest: —
YearContributionsInterestBalance

What is Savings Calculator?

Savings Calculator projects the future value of a savings account or investment using compound interest. It accounts for an initial lump sum plus regular monthly contributions, with configurable compounding frequency. A year-by-year table shows exactly how your balance grows over time.

How to Use Savings Calculator

  1. Enter your current or initial balance.
  2. Set a monthly contribution amount (can be 0).
  3. Enter the expected annual interest rate.
  4. Choose a time period and compounding frequency.
  5. Read the future balance, total contributions, and interest earned.
  6. Click "Show Year-by-Year Growth" for the full table.

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Understand Compound Interest ▾
Example
Input Initial: $5,000 | Monthly: $200 | Rate: 5% | 10 years
Output Future Balance: $37,066 | Contributions: $29,000 | Interest: $8,066
Common Use Cases
  • Project retirement savings over 20-90 years
  • Compare savings account rates
  • See how monthly contributions accelerate growth
  • Estimate an emergency fund timeline
Why Use This Tool
  • See exactly how much interest you will earn over any time horizon.
  • Visual bar shows the split between contributions and interest.
  • Year-by-year table reveals how growth accelerates over time.
  • Configurable compounding frequency for accurate projections.
  • Runs entirely in your browser —no data is sent.
Frequently Asked Questions
How is compound interest calculated?

FV = PV × (1 + r/n)^(n×t) + PMT × [((1+r/n)^(n×t) ∀1) / (r/n)], where PV is the starting balance, PMT is the monthly contribution, r is the annual rate, n is the compounding frequency, and t is the years.

What compound frequency should I choose?

Most savings accounts and CDs compound monthly or daily. Money market accounts often compound daily. Choose the frequency that matches your account type for the most accurate projection.

Does this account for inflation?

No. The calculator shows nominal returns. To estimate real purchasing power, subtract the expected inflation rate from your annual interest rate.

What is the difference between APR and APY?

APR is the stated rate before compounding. APY (Annual Percentage Yield) is the effective annual rate after compounding. For monthly compounding at 5% APR, the APY is about 5.12%.