About the Savings Calculator
This calculator estimates how regular deposits and an annual percentage yield can grow a savings balance over time, or how much you may need to save each month to reach a target.
Savings Growth
Enter your current balance, monthly deposit, saving period, and estimated APY to project a future balance. The yearly schedule shows how deposits and interest contribute to growth.
Reach a Savings Goal
Enter a target balance, current savings, and time period. The calculator estimates the monthly saving needed under the APY and deposit timing you select.
What APY Means
APY reflects the annual effect of interest compounding. The calculator converts it into a monthly rate for the planned deposits, so a separate compounding-frequency field is not needed.
Important Limitation
Rates can change. Taxes, bank fees, withdrawal limits, account minimums, and promotion conditions are not included, so use the result as a planning estimate rather than a bank quote.
Method, Limits, and Source
The result applies the APY and deposit timing you enter, assuming the rate remains unchanged. Actual accounts can have variable or tiered rates, fees, balance requirements, and withdrawal rules. For how APY is defined in U.S. disclosures, see the CFPB APY calculation guidance.