Calculate your savings growth

How to use the savings calculator

1. Enter your initial savings and the amount you'll add each month.
2. Enter the expected annual return and the term in years.
3. Choose whether you contribute at the start or the end of each month.
4. Check the final balance, total contributed, interest and the year-by-year breakdown.

Savings formula with monthly contributions

S = P × (1 + i)^m + A × ((1 + i)^m − 1) / i

What each variable means

S

final balance

P

initial savings

A

monthly contribution

i

monthly rate = annual rate / 12

m

number of months

Formula for end-of-month contributions. If you contribute at the start of the month, the second term is multiplied by (1 + i).

Monthly savings example

With €1,000 to start, €100 a month and 3% a year for 10 years, you contribute €13,000 and end with about €15,323: around €2,323 is interest.

Illustrative example with the data shown; not a guaranteed outcome.

Assumptions and limitations

• Interest is compounded monthly at a constant rate.
• Taxes, fees and inflation are not included.
• The return entered is an assumption, not a guarantee.

Frequently asked questions