Savings Calculator
Estimate how a monthly savings plan grows from a starting balance, monthly deposits, and interest over time.
Savings Calculator
Project how a monthly savings habit can grow over time
Savings plan
Estimated savings balance
$53,194.39
Based on monthly deposits over 10 years
Total deposited
$41,000.00
Interest earned
$12,194.39
Monthly contributions
$36,000.00
Added every month
Deposit count
120
Monthly compounding
Year-by-year breakdown
Ending balances| Year | Balance | Deposits | Interest |
|---|---|---|---|
| Year 1 | $8,904.89 | $8,600.00 | $304.89 |
| Year 2 | $12,989.16 | $12,200.00 | $789.16 |
| Year 3 | $17,261.07 | $15,800.00 | $1,461.07 |
| Year 4 | $21,729.22 | $19,400.00 | $2,329.22 |
| Year 5 | $26,402.64 | $23,000.00 | $3,402.64 |
| Year 6 | $31,290.76 | $26,600.00 | $4,690.76 |
| Year 7 | $36,403.44 | $30,200.00 | $6,203.44 |
| Year 8 | $41,751.00 | $33,800.00 | $7,951.00 |
| Year 9 | $47,344.22 | $37,400.00 | $9,944.22 |
| Year 10 | $53,194.39 | $41,000.00 | $12,194.39 |
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Frequently Asked Questions
How does this savings calculator work?
It assumes monthly compounding and that each monthly deposit is added at the end of the month. The calculator then projects your balance over the selected number of years.
Is this different from a compound interest calculator?
Yes. This version is simplified for a monthly savings plan. It fixes both deposits and compounding to monthly intervals instead of exposing multiple frequency choices.
What happens if the interest rate is 0%?
Your ending balance will equal your starting balance plus every monthly deposit. Interest earned will remain zero.
Does the displayed currency mean the value is converted?
No. The calculator formats amounts in the default currency for the selected language, but it does not perform live exchange-rate conversion.