Savings Calculator
See how your savings grow over time with compound interest. Add a monthly contribution and watch the numbers work for you.
About This Tool
Calculates how savings may grow using an annual effective rate converted to an equivalent monthly rate. Shows your final balance, total amount deposited and total interest earned. Adjust the initial deposit, monthly contribution, interest rate and time period to explore different scenarios.
Anyone saving for a goal — house deposit, emergency fund, holiday or retirement. Also useful for comparing savings accounts with different interest rates. Used in the UK, US, Australia, Canada, Singapore and worldwide.
All calculations happen in your browser. No financial data is transmitted or stored anywhere.
How the savings calculation works
The calculator converts the entered annual effective rate (AER/APY) to an equivalent monthly rate, grows the opening balance, then adds the monthly contribution at the end of each month. The result separates money you contributed from interest earned so you can see how much growth came from compounding.
Worked example
If you start with £5,000, add £200 each month and use a 4% annual rate, the calculator estimates the future balance and shows the contribution-versus-interest split. Change the rate or term to compare conservative and optimistic scenarios.
What the estimate does not include
- Changing interest rates or investment returns
- Account fees, tax, inflation or withdrawals
- Introductory rates that expire
Use the result as a planning estimate rather than a guaranteed return.