Savings Calculator
Plan your financial future. Calculate how your savings will grow over time with compound interest, or find out how much you need to save monthly to reach your goals.
Total Future Value
£32,703.47
By saving £200.00 monthly for 10 years, your balance will grow to this amount.
Total Contributions
£25,000.00
Total Interest Earned
+£7,703.47
| Year | Contributions | Interest | Balance |
|---|---|---|---|
| Year 1 | £3,400.00 | +£106.93 | £3,506.93 |
| Year 5 | £13,000.00 | +£1,884.58 | £14,884.58 |
| Year 10 | £25,000.00 | +£7,703.47 | £32,703.47 |
Showing key milestone years.
About This Savings Calculator
Whether you are saving for a house deposit, a new car, a dream holiday, or building an emergency fund, understanding how your money grows is crucial. This savings calculator helps you visualize compound interest and consistent contributions over time.
By adjusting your initial deposit, monthly contributions, expected interest rate, and timeframe, you can create a realistic roadmap to achieve your financial goals.
How To Use
How to calculate future savings value
Use Future Value. Enter your starting balance, monthly contribution, expected interest rate, and saving timeframe.
How to calculate savings with monthly contributions
The calculator factors in monthly deposits and applies compound interest to your initial balance and ongoing contributions.
How to estimate interest earned
The results separate total contributions from interest earned so you can see how much growth comes from compounding.
How to calculate monthly amount needed
Use Monthly Goal. Enter your target amount, initial deposit, rate, and timeframe to find the monthly contribution required.
How to calculate savings without interest
Use No Interest to add your initial deposit and monthly contributions without applying investment growth or interest.
Frequently Asked Questions
What is compound interest?v
Compound interest is growth earned on both your original savings and the interest already added to your balance.
How often is interest compounded in this calculator?v
This calculator uses monthly compounding, which matches the monthly contribution pattern used in the savings projection.
Does this account for inflation?v
No. The result shows nominal savings growth. Use an inflation calculator to estimate real purchasing power.
Does this include taxes?v
No. It does not include savings tax, investment tax, account fees, or penalties.
What interest rate should I use?v
Use a realistic expected annual return for your savings account or investment. Lower-risk accounts usually have lower expected rates.
Why is saving early so important?v
Starting early gives compound interest more time to work, so small regular contributions can grow into a much larger balance.