Savings Calculator

A savings account grows two ways: the interest your balance earns, and the money you add to it yourself. This calculator projects both together — starting from an optional initial deposit, adding a fixed contribution every month, and letting the whole balance earn interest that compounds monthly, the same way most savings accounts actually work.

You only need to fill in a deposit or a monthly contribution — not necessarily both. Enter the annual interest rate as an APY (Annual Percentage Yield), since that's how banks typically advertise savings rates, and it already reflects the effect of compounding rather than a raw, uncompounded rate.

The result is a projection, not a guarantee: it assumes your rate stays constant for the entire period, which real savings APYs rarely do — banks adjust rates over time based on broader interest-rate conditions. It also doesn't account for taxes on the interest you earn or for inflation eroding the real value of that balance. Use it to compare scenarios (a higher contribution, a longer timeline, a better rate) rather than as a promised future balance.