Savings Goal Calculator
Have a savings goal in mind — a holiday, a car, a house deposit? Find out exactly how much you need to save each month to reach it on time.
Savings Goal Calculator
Your monthly saving target, total contributions and interest earned.
To reach your goal in the time you set.
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How to use this calculator
Enter the amount you want to save, how many years you have to reach it, and the annual return you expect to earn. Press Calculate and the calculator will work out the monthly amount you need to save.
Formula
Where i is the monthly return (annual return ÷ 12 ÷ 100) and n is the number of monthly payments. With no return, the monthly saving is simply the goal divided by the number of months.
Frequently asked questions
What return should I assume?
Use a conservative figure based on where your money will be — savings accounts often pay 2–5%, while investments may return more but are not guaranteed.
What if I can only save a fixed amount?
Then use our Compound Interest Calculator as well, to see what your fixed monthly amount will grow to over time.
Does starting earlier really help?
Yes. More time means your savings earn interest for longer, so each monthly contribution can be smaller. Even a few extra months can cut the monthly amount you need.