# Savings Calculator

URL: https://speedycalculator.com/calculators/finance/savings/
Last updated: 2026-10-25

> The savings calculator works out how much your savings will grow with an initial deposit, regular deposits (monthly, weekly, yearly…) made at the start or end of each period, any interest rate and compounding frequency, yearly deposit increases and inflation.

## Inputs

- Initial deposit
- Regular deposit
- Deposit frequency
- Deposits made at
- Saving period (years, months)
- Annual interest rate (%)
- Compounding frequency
- Yearly increase of deposits (%)
- Inflation rate (%)

## Results

- Final balance
- Total deposits
- Interest earned
- APY (effective annual rate)
- Final balance in today's money

## Formula

```
Rate per deposit period i = (1 + r ÷ m)^(m ÷ f) − 1
Final balance = P × (1 + APY)^t + deposit × ((1 + i)^n − (1 + g)^n) ÷ (i − g) × (1 + i × timing)
Real value = final ÷ (1 + inflation)^t
```

## Explanation

Regular deposits and time do most of the work. Raising deposits a little each year – say with every pay rise – has a big effect. Compare the APY of savings accounts, which accounts for compounding.

### How to use the Savings Calculator

- **Initial deposit**
- **Regular deposit**
- **Deposit frequency**
- **Deposits made at**
- **Saving period**
- **Annual interest rate**
- **Compounding frequency**
- **Yearly increase of deposits**
- **Inflation rate**

Results update as you type, and every field accepts the units shown in its menu.

### How it works

Enter the initial deposit, regular deposit and frequency, timing, saving period, interest rate, compounding, yearly deposit increase and inflation.

### Tips

- Use your real spending from bank statements rather than guesses.
- Automate savings so they happen before you spend.
- Revisit your plan once a year or after any big life change.
- Keep an emergency fund before investing for long-term goals.

### Common mistakes to avoid

- Underestimating irregular expenses such as car repairs, gifts and annual bills.
- Ignoring inflation for long-term goals.
- Taking on high-interest debt to fund wants.

### Inputs explained

FieldWhat to enterInitial depositAmount in your currencyRegular depositAmount in your currencyDeposit frequencyChoose one: Monthly, Bi-weekly, Weekly, Quarterly …Deposits made atChoose one: End of each period, Beginning of each periodSaving periodUnits: years, monthsAnnual interest rateIn %Compounding frequencyChoose one: Yearly, Semi-annually, Quarterly, Monthly …Yearly increase of depositsIn %Inflation rateIn %

### What each result means

- **Interest earned** = [Final balance] - [Total deposits]
- **APY (effective annual rate)** = effr([Annual interest rate]÷100, [Compounding frequency])×100
- **Final balance in today's money** = [Final balance]÷(1 + [Inflation rate]÷100)^[Saving period]

### Example values

How the main result changes when **Initial deposit** changes and everything else stays at the example values above:

Initial depositFinal balance2,50035,173.983,75037,232.745,00039,291.56,25041,350.277,50043,409.0310,00047,526.55

## Worked example

Inputs — Initial deposit: $5,000; Regular deposit: $200; Deposit frequency: Monthly; Deposits made at: End of each period; Saving period: 10 years; Annual interest rate: 5 %; Compounding frequency: Monthly; Yearly increase of deposits: 0 %; Inflation rate: 0 %.

Results — **Final balance = $39,291.50**; Total deposits = $29,000.00; Interest earned = $10,291.50; APY (effective annual rate) = 5.116 %; Final balance in today's money = $39,291.50.

## FAQ

**How much will I have if I save $200 a month?**
About $39,300 after 10 years at 5% compounded monthly with a $5,000 start.

**What is the difference between APR and APY?**
APY includes the effect of compounding.

**Does deposit timing matter?**
Deposits at the start of each period earn one more period of interest.

**What formula does the Savings Calculator use?**
Rate per deposit period i = (1 + r ÷ m)^(m ÷ f) − 1.


## Sources

- [FDIC – National rates and rate caps](https://www.fdic.gov/resources/bankers/national-rates/)