Savings Calculator
Project how your savings grow from a starting balance, regular contributions and compound interest. Results update instantly as you type.
Your details
Total savings
How to use this calculator
Enter your starting balance and monthly contribution.
Set your interest rate, years to save, and tax rate.
Read the projected total and the split between contributions and interest.
Understanding your results
Your savings grow from three sources: the starting balance (money you already have), the monthly contributions (money you add regularly), and the compound interest those amounts earn. Because interest compounds — meaning your interest earns its own interest — even modest monthly deposits add up significantly over time. The earlier you start, the more time compounding has to work. For a deeper look at how compounding frequency affects growth, try the compound interest calculator, or see how your take-home pay determines how much you can save each month.
What factors affect your savings
Interest rate
A higher rate means more interest earned on the same balance.
Contribution
Larger monthly contributions compound into a much bigger total.
Time
More years give compound interest longer to work.
Worked examples
10-year goal
$10,000 to start, $500 per month at 4.50%
Grows to well over $80,000
Small deposits
Even $100 per month adds up
Thousands in interest over a decade
Frequently asked questions
How does compound interest work here?
Interest is added to your balance each period, and the next period earns interest on both your contributions and prior interest.
Does the tax rate apply to everything?
Tax is applied to the interest earned only, not to your contributions, which is how most savings accounts are taxed.
What compound frequency should I choose?
Monthly is the most common for savings accounts. More frequent compounding grows your balance slightly faster.
Can I change my monthly contribution later?
Yes — edit the contribution field and the projection updates instantly.
Is this guaranteed?
No. CalcPilot gives planning estimates only; check with your bank for actual rates and terms.
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Disclaimer
CalcPilot's calculations are estimates for planning purposes only. They are not financial, legal, or tax advice. Consult a qualified professional before acting on any result.