Free Savings Calculator - Track Your Growth
Calculate the growth of your savings.
Formula & Methodology
The Savings Calculator compounds your initial deposit at the stated rate and frequency, then adds the future value of your regular contributions (treated as a growing annuity) on top. Total contributions shows how much of the final balance came from your deposits versus the interest earned.
- FV = P(1 + r/n)^(n·t) + PMT × [((1 + r/n)^(n·t) − 1) / (r/n)]
- Total Contributions = P + (PMT × n × t)
Worked Example
Using the Savings Calculator: apply the formula above to your input values. For instance, FV = P(1 + r/n)^(n·t) + PMT × [((1 + r/n)^(n·t) − 1) / (r/n)], then Total Contributions = P + (PMT × n × t). The tool performs each step instantly and shows the result.
Frequently Asked Questions
How will my savings grow over time?
It projects your balance from your starting amount, regular deposits and interest rate, showing the compounding effect.
How much do regular deposits matter?
Consistent contributions often build the balance more than interest alone, especially in the early years.
How does the interest rate affect my savings?
A higher rate compounds faster, so shopping for a better savings rate can meaningfully increase your total.