Savings Calculator
Project your savings growth with compound interest. Switch between "how much will I save" and "how long to reach a goal" modes.
How Compound Interest Works
Compound interest is the interest you earn on both your original deposits and the accumulated interest from previous periods. The more frequently interest compounds, the faster your savings grow.
Formula: A = P(1 + r/n)^(nt) + PMT x ((1 + r/n)^(nt) - 1) / (r/n)
Where P is the initial deposit, r is the annual rate, n is the compounding periods per year, t is the number of years, and PMT is the monthly deposit (adjusted for compounding frequency).
- Daily compounding maximizes growth by reinvesting earnings every day
- Monthly compounding is common for savings accounts
- The Rule of 72: Divide 72 by your interest rate to estimate how many years it takes to double your money
About this Calculator
The Savings Goal Calculator is a free, easy-to-use tool for goal, target, monthly. Simply enter your values and get instant, accurate results — no signup, no ads, no tracking. All calculations run locally in your browser, so your data stays completely private.
Privacy Note: All calculations are performed locally in your browser. No data is ever sent to a server or third party.