Savings Calculator
Set a goal and a deadline to see the monthly deposit that gets you there, with interest doing part of the work.
Reviewed by the OmniCalc teamMethod verified 2026-07-01
339.56/ month
= 40,747.20 deposited over 120 months
Save 339.56 per monthShow steps
- Target 50,000.00 in 10 years (120 monthly deposits) at 4% compounded monthly.
- Required deposit = 339.56 at the end of each month.
- You will contribute about 40,747.20 in total; the rest is interest.
How to use the savings calculator
- 1Enter your savings goal and any starting balance.
- 2Set the number of years and the expected annual return.
- 3Read the monthly deposit needed, and how much of the goal your own contributions cover.
Let compounding help
To reach $50,000 in 10 years at 4%, you deposit roughly $340 a month — noticeably less than $50,000 ÷ 120, because interest fills the gap. See the growth curve on the compound interest calculator.
Frequently asked questions
How is the monthly deposit worked out?
It solves the future-value-of-an-annuity formula for the payment: the deposits, plus any starting balance that compounds over the term, must add up to the goal. Interest is compounded monthly.
What if my starting balance already reaches the goal?
Then the required deposit is zero — the calculator never returns a negative number. Your existing balance compounds to meet or exceed the target on its own.
Are deposits made at the start or end of the month?
At the end of each month (an ordinary annuity). Depositing at the start would earn slightly more interest, so the required amount would be a touch lower.