Savings Calculator

Enter the amount already in the account and the amount you plan to add every month.

Choose APY when the account advertises an annual percentage yield. Choose nominal annual rate only when you have a stated rate and know how often it compounds.

Enter a whole-number term from 1 to 100 years and choose whether monthly deposits occur at the beginning or end of each month.

Review the projected balance, your total deposits, projected interest, and the yearly schedule.

Annual percentage yield represents the effective amount of interest earned over a year after accounting for the stated rate and compounding frequency.

When a savings account advertises 4.5% APY, select APY and enter 4.5.

Do not enter that APY as a nominal rate and then select monthly compounding. Doing so would add another compounding adjustment and overstate the yield.

A nominal annual rate states the annualized periodic rate before the complete compounding effect.

The calculator divides the nominal rate according to the selected compounding frequency and calculates the resulting effective annual yield.

For example, a 5% nominal rate compounded monthly produces an effective annual yield of approximately 5.1162%.

If the source already labels the number APY or effective annual yield, use APY mode instead.

APY already contains the effect of compounding.

Monthly, quarterly, or annual crediting can produce the same disclosed APY when the underlying periodic rate is adjusted accordingly.

The calculator needs only the APY to reproduce that effective annual growth in its monthly planning model.

Monthly deposits require a consistent monthly projection step.

For APY, the calculator finds the monthly rate that compounds to the entered yield over twelve months.

For a nominal rate, it first calculates the effective annual yield from the selected frequency and then converts that yield to an equivalent monthly rate.

With no recurring deposits, twelve monthly steps reproduce the effective annual yield.

A real institution may calculate interest from each day’s balance and credit it monthly, quarterly, or on another schedule.

This calculator smooths the entered annual return into mathematically equivalent monthly steps so monthly deposits can be compared consistently.

The projection can therefore differ slightly from an actual statement even when the advertised APY remains unchanged.

A beginning-of-month deposit is added before that month’s interest step.

An end-of-month deposit is added after interest and begins growing in the following monthly step.

Beginning timing therefore gives every recurring deposit one additional monthly growth period.

Choose the option that most closely matches when funds normally reach the account.

The initial deposit is present from the beginning of the projection.

Recurring deposits are then added once per month according to the selected timing.

Total deposits equal the initial deposit plus every scheduled monthly contribution.

The calculator does not treat deposits as interest or include them in the reported interest total.

The projected ending balance consists of money deposited by the saver and interest generated by the modeled account.

Projected interest is calculated as ending balance minus total deposits.

Separating these amounts prevents a large future balance from being mistaken for interest alone.

Each row reports the account at the end of one projection year.

The schedule separates cumulative deposits from cumulative interest and also shows how much interest was added during that specific year.

Later years often produce more interest because the same percentage is applied to a larger accumulated balance.

Compound interest means previously credited interest can earn additional interest.

Recurring deposits also increase the balance on which later interest is calculated.

The annual rate does not need to rise for yearly interest to increase; the account balance itself becomes larger.

A rate of 0% is valid.

With no interest, the ending balance is exactly the initial deposit plus all scheduled monthly contributions.

This scenario can be useful for separating the effect of saving consistently from the effect of account yield.

Many savings-account APYs are variable and can change after the calculation is made.

Promotional yields may expire, while tiered accounts may apply different rates at different balances.

Run separate scenarios when you want to compare a lower, expected, and higher future rate rather than assuming one advertised rate will last for decades.

The calculator does not subtract account fees or taxes on interest.

It also does not model withdrawal limits, early-withdrawal penalties, required activity, minimum balances, or deposit conditions.

Review the account’s disclosures before comparing products solely by projected balance.

The result is a future nominal currency amount.

It does not show how much that balance could buy after future price changes.

A larger future balance can still have lower purchasing power than the same numerical amount has today.

A savings-account APY is not the same as an assumed investment return.

Investment values can fluctuate and can lose principal, while a savings projection normally models interest credited to a deposit balance.

Use a tool designed for investments when returns, volatility, fees, taxes, or market losses need to be represented.

Try different monthly deposits, terms, rates, and contribution timing.

Comparing scenarios can show whether increasing the monthly contribution or extending the term matters more for a particular goal.

Recalculate whenever the real account rate, deposit habit, or goal changes.

The calculation retains browser floating-point precision through every monthly step.

Currency results are formatted for display, while the CSV rounds monetary columns to two decimal places.

The currency selector labels and formats amounts but does not perform exchange-rate conversion.

The calculation and yearly schedule are created in the browser.

No bank account, login, statement, or financial document is required.

The rewritten interface starts blank and does not place calculation values into a share URL or intentionally persist them.