Savings Calculator
Calculate future savings with compound interest. Plan your savings goals, estimate investment growth, and achieve financial targets.
Savings Parameters
Year-by-Year Growth
| Year | Start Balance | Contributions | Interest | End Balance |
|---|
Rate Comparison
| Interest Rate | Final Amount | Interest Earned | Effective Return |
|---|
About Savings Calculator
The Savings Calculator helps you estimate the future value of your savings with compound interest. It considers initial savings, monthly contributions, interest rates, and time to show how your money can grow.
How Savings Calculation Works
Compound Interest Formula
A = P(1 + r/n)^(nt) + PMT × (((1 + r/n)^(nt) - 1) / (r/n))
Where A = future value, P = principal, r = annual rate, n = compounding periods, t = years, PMT = monthly contribution
Monthly Contributions
Regular monthly savings accelerate growth through compounding
Even small monthly contributions can significantly increase final amount
Compounding Effect
Interest earned in each period is added to principal
Next period's interest calculated on increased principal (compound interest)
Savings Strategies
Emergency Fund
- Target: 3-6 months expenses
- Where: High-yield savings account
- Rate: 3-5% annual interest
- Priority: Build before investing
Short-Term Goals
- Time: 1-3 years
- Where: FDs, debt funds
- Rate: 5-7% returns
- Risk: Low to moderate
Long-Term Goals
- Time: 5+ years
- Where: Equity mutual funds
- Rate: 10-12% returns
- Risk: High but rewarded
Retirement
- Time: 20+ years
- Where: PPF, NPS, equity
- Rate: 8-10% returns
- Tip: Start early for compounding