Savings Calculator
Estimate savings growth based on your starting amount, monthly deposits, interest-rate assumption, and time period.
Inputs
Result
Enter values on the left and select Calculate to see the result here.
What the Savings Calculator does
- Estimates savings growth based on your entered starting amount, monthly deposits, annual interest rate, and time period.
- Shows total deposits separately from estimated interest so you can see how much of the projection comes from contributions.
- Helps compare savings scenarios, but it does not guarantee a provider rate or final account balance.
How to use the Savings Calculator
- Select the display currency and enter your current savings balance.
- Enter the monthly deposit you plan to add and the annual interest rate assumption you want to test.
- Enter the number of years for the projection.
- Read the result as an estimate based on your inputs, then adjust the rate, deposit, or time period to compare scenarios.
Formula / methodology used
- The calculator converts the user-entered annual interest rate into a monthly rate by dividing by 12.
- For each month, it applies interest to the current balance and then adds the monthly deposit.
- Total deposits equal starting savings plus all monthly deposits over the projection period.
- Estimated interest equals estimated final balance minus total deposits, rounded for display.
Example calculation
Start with €1,000, deposit €100 per month, assume 3% annual interest for 5 years.
- Time period = 5 years × 12 = 60 months
- Total deposits = €1,000 + (€100 × 60) = €7,000
- Monthly interest rate = 3% ÷ 12 = 0.25%
- Apply monthly interest, then add each €100 deposit
Result: The estimated final balance is about €7,626.29, including about €626.29 of estimated interest above deposits.
Common mistakes and limitations
- Savings rates may change and bonus rates or promotional terms may expire.
- The estimate may not include account fees, tax, inflation, withdrawals, provider eligibility rules, or exact bank compounding practices.
- Monthly deposit timing matters; this model adds deposits after monthly interest is applied.
- A 0% rate case simply adds deposits without interest growth.
Important note
This savings calculator is a projection based on your inputs and is not financial advice. Check provider terms and consider tax, inflation, fees, and your own circumstances.
Savings Calculator FAQs
Is this a guaranteed savings forecast?
No. It is an estimate based on your inputs. Actual savings outcomes can vary because interest rates, fees, tax, inflation, withdrawals, provider rules, and compounding practices can differ.
Does the calculator include tax or inflation?
No. It shows nominal savings growth before any tax, inflation adjustment, account fees, or other deductions unless those effects are reflected in the rate you enter.
When are deposits added?
The calculation applies monthly interest first and then adds the monthly deposit. Some providers may credit interest or accept deposits on a different schedule.
Can I enter 0% interest?
Yes. The result will show starting savings plus deposits, with estimated interest of zero.