Savings Goal Calculator
Find the monthly deposit needed to reach a savings goal at a fixed interest rate. Review contributions, interest, and a month-by-month balance schedule.
Enter your figures or load an illustrative example, then select Calculate.
Monthly deposit = goal × r ÷ ((1 + r)n − 1), where r = annual rate ÷ 12 and n = months. At 0% interest, deposit = goal ÷ months. Deposits occur at month-end. Interest and deposits retain precision until displayed; the final calculation reaches the savings goal.
These are fixed-rate planning estimates. Currency changes the display only. Interest is assumed, not guaranteed; taxes, account fees, and inflation are excluded. Calculations stay in this browser and are not saved.
How to use Savings Goal Calculator
- Enter your target amount, term in months or years, and nominal annual interest rate.
- Choose a display currency; it does not change the math or convert money.
- Calculate the monthly contribution and review or export the balance schedule.
What is Savings Goal Calculator?
This model starts from a zero balance and adds equal planned contributions at each month end. Interest compounds monthly at the nominal annual rate divided by 12. Calculations retain decimal precision internally. The displayed schedule allocates cents across periods so its rounded deposits, interest, and balances reconcile with the final goal.
- Required monthly deposit with a zero-interest case
- Total contributions and accumulated interest
- Monthly balance schedule and CSV export
- Weekly and biweekly budget equivalents
A practical example
Goal $10,000 · 5 years · 5% nominal annual interest
Planned monthly deposit: approximately $147.05 Month-end deposits; monthly compounding
Frequently asked questions
Does the calculation use an existing savings balance?
No. This first version starts at zero. The goal is funded by monthly deposits and the modeled interest earned on the running balance.
Are the weekly amounts separate savings projections?
No. They divide the annual deposit budget into 52 weeks or 26 biweekly periods. The actual balance schedule uses monthly deposits and monthly compounding.
Are taxes, fees, or rate changes included?
No. The rate remains fixed for the model and no taxes or account fees are deducted. Use the schedule as an estimate under its stated assumptions.