Savings Calculator
Calculate how your savings grow over time with regular deposits and compound interest.
Total Savings
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Amount Deposited
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Interest Earned
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Wealth Gain
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What is Savings Calculator?
A savings calculator projects the total value of your savings account or investment over time, combining a one-time initial deposit with ongoing monthly contributions and a compounding interest rate. It shows how regular saving habits, even modest ones, can accumulate into a significant corpus through the power of compound interest over years or decades.
How to use
- 1 Enter any initial lump-sum savings you already have.
- 2 Enter the monthly amount you plan to add consistently.
- 3 Input the annual interest rate your savings will earn.
- 4 Enter the number of years you intend to save.
- 5 The total savings, amount deposited, interest earned, and wealth gain percentage are calculated instantly.
Formula
Example calculation
Starting with ₹50,000 and adding ₹5,000 per month at 7% annual interest for 10 years results in total savings of approximately ₹9.2 lakh. You deposit ₹6.5 lakh over that period, and compound interest adds roughly ₹2.7 lakh — a 42% wealth gain on your contributions.
Frequently asked questions
How much should I save each month?
A widely used rule of thumb is to save at least 20% of your monthly income (the 50/30/20 rule). Automate contributions so saving happens before spending, and increase the amount with every pay rise.
What interest rate should I use for a savings account?
Indian savings accounts typically offer 2.5–7% per annum. High-yield savings accounts or liquid mutual funds may offer 6–7.5%. Use the actual rate from your bank for accurate projections.
Does the order of deposits matter?
Contributions made earlier benefit from more compounding periods. Starting your savings habit even one year earlier can meaningfully increase your final corpus, which is why financial advisors stress starting early.
How is this different from an FD calculator?
An FD calculator handles a single lump-sum deposit with no monthly additions. This savings calculator models both an initial deposit and regular monthly contributions, reflecting real-world saving behaviour more accurately.
What if I stop contributing midway?
If you stop monthly contributions, your existing balance continues to compound. You can use the calculator to model this by setting the monthly contribution to zero and running a second calculation from the point you stopped.