Savings Calculator
Enter your starting amount, monthly deposit and your account's annual rate to see year-by-year growth. Or flip it: tell us the goal and we'll tell you the monthly deposit.
You'll have about
$17,175.24
Compounded monthly at a fixed rate.
- Total deposited
- $13,000.00
- Interest earned
- $4,175.24
How your savings grow
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About this calculator
How it works
The balance grows every month: monthly interest (annual rate ÷ 12) is applied, then your deposit is added. Repeating that cycle is compound interest — you earn interest on prior interest.
In goal mode the calculator solves the same formula backwards to find the fixed monthly deposit that reaches your number in the chosen time.
Example
Starting with $1,000 and depositing $100 a month at 5% annually: after 10 years you'll have deposited $13,000 and the balance will be around $17,175 — over $4,000 of it earned interest.
Important limitations
- Assumes a fixed rate and constant deposits; savings and CD rates change over time.
- Taxes on earned interest and inflation are not considered.
- Interest compounds monthly; accounts that compound daily will come out slightly higher.
Learn more
Guides explaining the context behind this calculation.
Frequently asked questions
This calculation runs in your browser and is never sent to a server. Your last values may be saved on your device only, for convenience. Results are estimates and are not financial, tax, accounting or legal advice.