Monthly Savings Calculator
Project monthly savings
Project how much you'll build up by saving a fixed amount every month. Designed for anyone building a saving habit who wants to see its effect over time: enter the monthly deposit, any starting balance, the return and the term.
See how much you'll save each month
Result
Final balance
€12,609.47
- Total deposited
- €12,000.00
- Interest earned
- €609.47
Formula version: 1.0.0
Show year-by-year breakdown
| Year | Contributed | Interest | Balance |
|---|---|---|---|
| 1 | €2,400.00 | €22.12 | €2,422.12 |
| 2 | €4,800.00 | €93.13 | €4,893.13 |
| 3 | €7,200.00 | €214.02 | €7,414.02 |
| 4 | €9,600.00 | €385.79 | €9,985.79 |
| 5 | €12,000.00 | €609.47 | €12,609.47 |
How to use the monthly savings calculator
- Enter how much you'll save each month and, optionally, your starting balance.
- Enter the annual return and the term in years.
- Choose start- or end-of-month deposits and review the balance and its growth.
Monthly savings formula
S = P × (1 + i)^m + A × ((1 + i)^m − 1) / i
What each variable means
- A
- monthly deposit
- P
- starting balance
- i
- monthly rate = annual rate / 12
- m
- number of months
Each monthly deposit starts earning interest once it's made. Depositing at the start of the month adds one extra month of growth to each deposit.
Monthly savings example
Saving €200 a month at 2% a year for 5 years, you deposit €12,000 and end with €12,609.47: €609.47 is interest.
Illustrative example with the data shown; not a guaranteed outcome.
Assumptions and limitations
- Constant return, compounded monthly.
- Taxes, fees and inflation are not included.
Frequently asked questions
How much should I save each month?
It depends on your income and goals. A rough guide is around 20% of net income.
What if I want to reach a specific amount?
Use the savings goal calculator, which works out the monthly deposit needed for a target.
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See savings calculatorsIndicative result for information only; not financial or tax advice. Read the legal notice · How we calculate results
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