Savings Calculator
Project savings growth from regular deposits and interest.
Inputs
$
$
%
yrs
Result
Future Value$300,850.72
Total Contributions$130,000.00
Interest Earned$170,850.72
About the Savings Calculator
The Savings Calculator projects how a savings account balance grows over time from a starting balance, monthly deposits, and the account's APY.
Calculation method
Same compound-interest formula as the Interest Calculator, tuned for periodic deposit inputs.
FV = P(1+r)^n + PMT × ((1+r)^n − 1)/rHow to use this calculator
- Enter your current savings balance.
- Enter what you plan to deposit each month.
- Enter the APY on your savings account and the time horizon.
Example
$3,000 with $250 monthly deposits at 4.5% APY grows to about $37,700 in 10 years — $33,000 in deposits and $4,700 in interest.
Frequently asked questions
What is APY vs. APR?
APY (annual percentage yield) already includes compounding. APR (annual percentage rate) is the simple annualized rate. Compare savings accounts by APY.
How much should I keep in savings?
Most planners recommend 3–6 months of expenses in an emergency fund. Extra long-term savings usually earn more in investments than savings accounts.
Where can I get the highest APY?
High-yield savings accounts and money-market accounts at online banks typically pay 10–20× the national average. Rates change with Fed policy.
Disclaimer: This calculator is for informational and educational purposes only and does not constitute financial, tax, or legal advice. Consult a qualified professional for decisions specific to your situation.