CalcKit

Savings Calculator

Project your balance with monthly deposits and compound interest.

Enter your values

Balance available today.

Deposit made at the end of each month.

Fixed nominal rate, compounded monthly.

Whole years to save.

Result

Projected savings$14,480.79
Starting savings
$1,000.00
Monthly deposits total
$12,000.00
Interest earned
$1,480.79

This projection compounds interest monthly and deposits your contribution at month end. It assumes no withdrawals or rate changes.

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For general information and mathematical estimates. Results are not financial, investment or tax advice.

Formula

Savings = Initial × (1 + r/12)^(12t) + Monthly deposit × [(1 + r/12)^(12t) − 1] ÷ (r/12)

Worked example

Start with $1,000 and save $200 monthly for 5 years at 4%.

The projected balance is $14,480.79, with $12,000 in new deposits.

How to use

  1. Enter your current savings and monthly deposit.
  2. Enter a nominal annual rate and number of years.
  3. Calculate projected savings; interest is before tax and inflation.

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Compound InterestSee how interest and regular contributions grow over time.LoanEstimate monthly payments, total interest and borrowing costs.Investment ReturnCompare total return with the annualized growth of an investment.

Frequently asked questions

Can I enter a zero interest rate?

Yes. With no interest, savings equal your starting balance plus all monthly contributions.

Can I enter APY as the annual rate?

This input is a nominal annual rate with monthly compounding. To convert APY as a decimal, use 12 × ((1 + APY)^(1/12) − 1), then multiply by 100.