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Savings Calculator

Plan how long to reach a savings goal.

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Enter your numbers and press Calculate.

About the Savings Calculator

This calculator estimates how long it takes to reach a savings goal given a starting balance, a regular monthly contribution, and an annual percentage yield (APY). It compounds interest monthly and adds your contribution each month until the balance reaches the target.

The result shows the number of months to the goal, an estimated calendar date, and how much of the final balance came from interest rather than deposits. Raising the monthly contribution usually moves the date sooner than raising the assumed APY.

How this works

n = ln((G·r + C)/(P·r + C)) / ln(1 + r), r = APY/12

Assumptions

  • APY stays constant.
  • Contributions are made monthly.
  • Interest compounds monthly.

Frequently asked questions

Does the calculator assume the APY stays the same?
Yes. Savings APYs are variable in reality, so treat the result as an estimate based on the rate you enter holding steady.
How is interest applied?
Interest is compounded monthly on the running balance, and your contribution is added each month.
What if I already have more than my goal?
The calculator returns zero months, since the goal is already met with the starting balance.

This calculator provides estimates for educational purposes only and is not personalized financial advice. Rates, taxes, and financial products change — verify with providers and qualified professionals.