Savings Goal Calculator
Work out the monthly deposit for a savings goal or estimate balance from fixed deposits with simplified interest.
Your goal in numbers
Your data is not stored. Everything runs in your browser.
Your result
0/month
Target entered
0
Uses simplified compound interest and a fixed rate. Not a substitute for financial advice and does not model fees, taxes, or real products.
What this calculator does
It uses compound interest with equal monthly deposits: each contribution grows together with what you already saved. Small changes in rate or horizon can change the ending balance a lot.
Want to turn this money-goal number into a plan you can keep?Read the guide →Why estimate a goal and a monthly amount?
Turning a goal into “how much per month” makes a plan concrete. Seeing the future value of a fixed deposit also helps you grasp the effect of time and rate, even though real life adds taxes, fees, and volatility that are not modeled here.
The two modes
Pick what you want to solve for:
- Monthly deposit needed: you enter the target, months, and rate; the tool estimates the required end-of-month deposit (spreadsheet-style convention).
- Future value: you enter the monthly deposit, horizon, and rate; it estimates the balance at the end.
Practical tips
- Use a conservative rate if you are only planning; real returns vary and products differ.
- Cross-check your budget: the deposit has to fit after essential spending.
- At 0% rate, math is simple: target = deposit × months (or deposit = target ÷ months).
- Inflation erodes purchasing power; this tool does not inflation-adjust the result.
Limitations
Fixed rate, equal deposits, monthly compounding from nominal annual rate ÷ 12, deposits at month-end. No taxes on gains, irregular deposits, or partial withdrawals. Not a recommendation or a specific bank product simulation.
Rate convention
The monthly rate is nominal annual percent divided by 12 (not the effective annual rate). This matches common spreadsheet functions (e.g. Excel PMT/FV with rate per period).
Ordinary annuity / amortization identities are standard in finance texts and spreadsheet documentation (e.g. Microsoft Excel function reference for PMT, FV).
FAQ
Which mode should I use?
If you know how much you want to accumulate and need a monthly deposit, use the target mode. If you know what you can set aside each month and want an estimated ending balance, use the future-value mode.
What if I set the rate to zero?
With no interest, the target is just deposit × number of months, and the required deposit is target ÷ months. The calculator follows that logic.
Is this investment advice?
No. It illustrates standard math only.
Are taxes or inflation included?
No. You would adjust inputs or consult a professional for your situation.