Savings Goal Calculator
Find out how long it takes to reach your savings goal with regular monthly deposits and optional interest earnings.
Runs in your browser. No data leaves your device.
Frequently Asked Questions
How does the Savings Goal Calculator work?
The tool iterates month by month, adding your monthly deposit to the running balance and applying monthly interest (APY / 12). It counts how many iterations are needed for the balance to reach your target goal. The result shows exactly how many months and years of saving are required, plus how much comes from your deposits versus earned interest.
What interest rate should I use?
Use the APY (Annual Percentage Yield) from your savings account. High-yield savings accounts currently offer around 4-5%. Standard savings accounts offer much less. Check your bank for your actual rate.
Can I see a month-by-month breakdown?
The calculator shows how your savings grow over time, so you can see exactly when you will hit your target and how much of the total comes from deposits versus earned interest.