MihsabaHow to use
Use the savings calculator to project a future balance from a starting amount, regular monthly contributions and an assumed annual rate compounded monthly. It separates money you contribute from estimated growth and can compare the projection with an optional savings goal.
- Enter your current balance; zero is allowed.
- Enter the amount added at the end of each month, the assumed annual rate and the time horizon.
- Optionally add a savings goal, then calculate the projected balance, your total contributions and the goal gap.
How it is calculated
Example
Example: start with 10,000 and add 500 monthly for 10 years at an assumed 5% annual rate compounded monthly. The calculator combines growth on the opening balance with the future value of the monthly deposits and separates contributions from estimated interest.
Important notes
This is a mathematical projection, not a promised return. It assumes a constant rate, monthly compounding and deposits at month-end. Inflation, fees, taxes and changing rates are not modeled. Use the actual account or product terms for real financial decisions.
Frequently asked questions
What happens at a 0% rate?
The ending balance is simply the starting amount plus all monthly contributions.
Are monthly deposits made at the start or end of the month?
This calculator assumes month-end deposits. Depositing at the beginning of each month would give every contribution one extra month of growth.
Is this the same as a compound interest calculator?
The math overlaps, but this tool is focused on regular saving, separates monthly contributions and can compare the result with a goal.
Is this calculator free?
Yes. It is free to use and requires no account.