Savings Calculator
Project your savings growth with regular deposits and compound interest.
Building savings isn't just about the interest rate — regular deposits compound alongside your starting balance. This calculator projects your final balance from a starting amount, monthly deposits, and your account's interest rate.
Consistency beats timing
A common mistake is waiting for "extra" money to start saving. Because of compounding, a smaller amount deposited consistently over a long period often outperforms a larger amount deposited irregularly or started later — the projection above shows how much of your final balance comes from contributions versus interest.
High-yield savings vs. standard accounts
Standard savings accounts at large banks often pay a small fraction of a percent, while high-yield online savings accounts can pay several times more with the same FDIC insurance protection (in the US) and no meaningfully higher risk. Try the calculator with both rates to see the real difference over 5-10 years.
Frequently asked questions
Is this the same as a retirement calculator?
It's similar math, but our Retirement Savings Calculator is tailored for longer horizons and typical retirement-account contribution patterns. This one works for any savings goal — an emergency fund, a house down payment, a vacation.
Should I save or pay off debt first?
Generally, pay off high-interest debt (like credit cards) before prioritizing savings growth, since the interest you're paying on debt usually exceeds what you'd earn saving. Building a small emergency fund alongside debt payoff is still wise so an unexpected cost doesn't force you back into debt.