About reaching a savings goal
This savings goal calculator shows how long it will take to reach a target amount, given your current savings, monthly contribution and interest rate. It is ideal for planning for a holiday, a deposit, an emergency fund or any goal, and helps you see how interest and consistency speed things up.
How Savings Goal works
How to use it
- Enter your goal amount and current savings.
- Add your monthly contribution and interest rate.
- See how many months and years it will take.
How it works
Each month your balance earns interest (compounded monthly) and grows by your contribution, until it reaches the goal. The tool also shows how much of the goal came from your own contributions.
Reach it faster
Increasing your monthly contribution usually has a bigger impact than the interest rate for short-term goals — try a few amounts to compare.
Common uses
- See how long to reach a savings goal
- Plan for a house deposit
- Save for a holiday or car
- Build an emergency fund
- Compare monthly contribution amounts
- Factor in interest on savings
- Set a realistic timeline
- Stay motivated to save
Frequently asked questions
How long will it take to save my goal?
Enter your goal, current savings and monthly contribution; the tool shows the time needed.
Does it include interest?
Yes — interest compounds monthly at the rate you enter.
What if I already have enough?
It will tell you the goal is already reached.
What if my contribution is too small?
With no contribution and no interest, the goal cannot be reached — add a monthly amount.
Should I focus on rate or contribution?
For short-term goals, your contribution usually matters more than the rate.
Is my data uploaded?
No — it calculates in your browser.
Is this financial advice?
No — it is a planning estimate.
Is it free?
Yes — completely free with no sign-up.