Savings Calculator
Estimate savings growth with monthly deposits and annual interest.
Inputs
Result
Enter values on the left and select Equals to see the result here.
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What the Savings Calculator does
- Projects savings growth from a starting balance and monthly deposits.
- Shows total deposits and total interest earned.
How to use the Savings Calculator
- Select currency and enter starting savings.
- Enter monthly deposit, annual interest rate, and number of years.
- Click Calculate to see final balance and breakdown.
Formula / methodology used
- Applies monthly compounding using (annual rate ÷ 12).
- Each month: balance grows by interest, then monthly deposit is added.
Example calculation
Start €1,000, add €100/month, 3% for 5 years.
- Set inputs
- Apply monthly interest + deposits over 60 months
Result: Outputs final balance, total deposits, and total interest.
Savings Calculator FAQs
Does deposit timing matter?
Yes. This model adds the deposit after applying interest each month; some banks may apply interest differently.