Savings Calculator

How to Use

1. Enter the monthly deposit amount, annual interest rate, and number of months.
2. The maturity (final) amount, total deposited, and total interest are calculated instantly.

Calculation Method

This calculates a fixed installment savings plan (regular deposits each month) using simple interest, assuming each deposit is made at the start of the month: Total Interest = Deposit × Monthly Rate × n × (n+1) / 2, where n is the number of months and Monthly Rate is the annual rate divided by 12. The maturity amount is the total deposited plus total interest, before tax.

Common Uses

• Estimating how much a recurring monthly savings plan will be worth at maturity.
• Comparing different savings products by their advertised annual rate.
• Planning a savings goal (e.g. a deposit for a major purchase) over a fixed period.

Note: actual savings products may apply tax, fees, or a different interest calculation method. This is an estimate.