Savings Calculator

This free **savings calculator** shows how your money grows over time with **monthly deposits** and **compound interest**. Plan your financial future and reach your goals faster.

Initial Savings ($) Monthly Deposit ($) Annual Interest Rate (%) Time Period (years)

How Savings Calculator Works

The formula for future savings with monthly deposits is:

FV = P × (1 + r/n)^(n×t) + PMT × [((1 + r/n)^(n×t) − 1) / (r/n)]

• P = Initial Savings
• PMT = Monthly Deposit
• r = Annual Interest Rate
• n = Compounding Frequency (12 months)
• t = Time (years)

Example:

Initial = $1,000 | Deposit = $200 | Rate = 5% | Term = 10 years

• Future Value ≈ $31,000
• Interest Earned ≈ $6,000

Note: This **compound savings calculator** gives an estimated growth. Real results may vary based on bank fees, compounding method, and inflation.