Savings Calculator — Project Your Growth
See how your savings grow over time with compound interest, set a monthly-contribution goal, or project where a current savings habit lands by a target date.
Savings Calculator
Grow Your Savings with Compound Interest
ACCOUNT DETAILS
SETTINGS
Projected Savings Balance
$53,364
after 10yrs at 4.5% monthly compounding
$5,000
INITIAL DEPOSIT
$36,000
CONTRIBUTIONS
$12,364
INTEREST EARNED
$5,000
Initial Deposit
$36,000
Total Contributions
$12,364
Interest Earned
📊 Savings Growth Over Time
💡 What Makes Up Your Final Balance
📅 Accumulation Schedule
| Year | Opening Balance | Contribution | Interest Earned | Closing Balance |
|---|---|---|---|---|
| Year 1 | $5,000 | $3,600 | $319 | $8,919 |
| Year 2 | $8,919 | $3,600 | $499 | $13,017 |
| Year 3 | $13,017 | $3,600 | $687 | $17,304 |
| Year 4 | $17,304 | $3,600 | $884 | $21,788 |
| Year 5 | $21,788 | $3,600 | $1,090 | $26,478 |
| Year 6 | $26,478 | $3,600 | $1,305 | $31,384 |
| Year 7 | $31,384 | $3,600 | $1,531 | $36,514 |
| Year 8 | $36,514 | $3,600 | $1,766 | $41,881 |
| Year 9 | $41,881 | $3,600 | $2,013 | $47,494 |
| Year 10 | $47,494 | $3,600 | $2,271 | $53,364 |
💡 Savings Growth Tips
Best Savings Account Rates in 2026
A quick screen before you commit: where your money sits matters almost as much as how much you save. For money you might need within a couple of years, see how a CD compares, and for money with a decade or more runway, check the investment calculator.
| Account Type | Typical APY 2026 | Liquidity | Best For |
|---|---|---|---|
| High-Yield Savings | 4.0 – 5.0% | Immediate | Emergency fund, short-term goals |
| Money Market Account | 3.8 – 4.8% | Immediate | Larger balances, some check access |
| 6-Month CD | 4.5 – 5.2% | Fixed term | Short-term locked savings |
| 1-Year CD | 4.8 – 5.5% | Fixed term | Predictable returns, 12-month goal |
| 5-Year CD | 4.0 – 5.0% | Fixed term | Medium-term goals |
| Regular Savings | 0.3 – 1.0% | Immediate | Convenience only — avoid for growth |
| Roth IRA (invested) | 7 – 10% historical | Retirement age | Long-term tax-free growth |
The 50/30/20 Savings Rule
A simple budgeting framework worth knowing before you set a savings target: roughly 50% of take-home pay toward needs (rent, utilities, groceries, insurance), 30% toward wants (dining, entertainment, subscriptions), and 20% toward savings and debt repayment. On a $5,000/month take-home income, that 20% works out to $1,000/month — plug that figure into the calculator above at a 4.5% APY over 10 years and you'll see it compounds to well over $150,000, with the majority of that final balance coming from interest rather than the contributions themselves.
Savings Goal Examples
The monthly figures below use your current rate from the calculator above — change the rate and this table updates with it.
| Savings Goal | Target Amount | Timeline | Monthly Needed |
|---|---|---|---|
| Emergency Fund (3 months) | $12,000 | 1 year | ~$976/mo |
| Emergency Fund (6 months) | $24,000 | 2 years | ~$954/mo |
| Car Down Payment | $8,000 | 1.5 years | ~$429/mo |
| Home Down Payment (10%) | $40,000 | 5 years | ~$593/mo |
| College Fund | $80,000 | 18 years | ~$240/mo |
| Retirement (age 25-65) | $1,000,000 | 40 years | ~$743/mo |
Illustrative figures at a 4.5% APY. Enter your own rate and timeline in the calculator above for a number tailored to your goal.
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