Savings goal calculator
Enter your goal, what you have saved so far and what you add each month to estimate how long it could take to get there.
Enter your goal, what you have saved so far and what you add each month to estimate how long it could take to get there.
See how long it could take to reach an amount by putting money aside each month.
Leave at 0 to ignore interest.
This calculator gives estimates for illustration only. It is general information, not financial advice, and it does not allow for tax, fees, inflation or changes in interest rates.
The calculator starts with what you have already saved. For each month it adds interest, if you entered a rate, and then adds your monthly amount. It counts the months until the balance reaches your goal.
Interest is added once a month at one twelfth of the yearly rate you enter. Real accounts work out interest in different ways, so treat the answer as an estimate.
Three things decide how long a goal takes. Change one box at a time to see how much difference each makes.
Only if you enter a yearly interest rate. Leave the rate at 0 to see the result with no interest.
The yearly rate your account pays. In the UK this is usually shown as AER and in the US as APY. The calculator splits that rate evenly across twelve months, so the result is an approximation.
No. It is an estimate based on the numbers you enter staying the same every month. Rates change, and so do the amounts people manage to save.
Yes. Use the currency switch to change the symbol. The calculation is the same in either currency.