Savings Calculator — Grow savings with recurring deposits and extra interest
Savings Calculator
Savings growth over time
Results summary
10 Years to save
| Year | Contributions | Growth | Balance |
|---|---|---|---|
| 1 | $11,000 | $200 | $11,200 |
| 2 | $1,000 | $224 | $12,424 |
| 3 | $1,000 | $248.48 | $13,672.48 |
| 4 | $1,000 | $273.45 | $14,945.93 |
| 5 | $1,000 | $298.92 | $16,244.85 |
| 6 | $1,000 | $324.90 | $17,569.75 |
| 7 | $1,000 | $351.39 | $18,921.14 |
| 8 | $1,000 | $378.42 | $20,299.56 |
| 9 | $1,000 | $405.99 | $21,705.55 |
| 10 | $1,000 | $434.12 | $23,139.67 |
About this savings calculator
This savings calculator projects how a starting amount plus recurring deposits can grow with compound interest. It supports weekly to annual deposits, lets you add a yearly increase to the contribution amount, and can apply an extra interest rate on its own cadence. The result is a year-by-year forecast of contributions, growth, and ending balance so you can see whether your savings plan matches your goals.
How the calculations are built
We convert your annual rate to an effective monthly rate and apply it once per month. Contributions are normalized to a monthly amount using the chosen frequency, then boosted by your annual increase starting in month 13 and every 12 months thereafter. An extra interest rate is applied on its own cadence — monthly, quarterly, annually, or semimonthly — after the base monthly rate but before the contribution. Semimonthly applies the extra rate twice each month while the base rate stays monthly. Every month follows: base rate → extra rate (if due) → add contribution. Yearly rows roll up balance, total contributions, and total growth.
How to read and trust the outputs
What is a savings calculator?
A savings calculator models how money set aside today and added over time could grow with compound interest. It shows the long-term effect of consistent deposits, contribution increases, and bonus interest rates offered by some accounts.
Examples you can model
- Emergency fund: start with $5,000, add $200 monthly, increase deposits 5% per year, and see the balance after 3 years.
- Down payment: begin at zero, contribute weekly, add a yearly raise to your savings amount, and compare results at 5 versus 8 years.
- Bonus rate offers: test how a 2% base rate plus a quarterly 1% bonus changes growth compared to the base rate alone.
What the projection means
Each month follows the same order: apply the base monthly rate, apply the extra rate if its frequency triggers, then add the contribution. The yearly schedule shows cumulative contributions, growth, and ending balance.
Extra rate choices
Choose monthly, quarterly, annually, or semimonthly. Semimonthly applies the extra rate twice in the month while the base rate remains monthly, so you can see the uplift from more frequent bonus interest.
Planning tips
- Compare a flat contribution with a yearly increase to see how faster deposits bend the growth curve.
- Test weekly versus monthly deposits to understand how timing affects the path, not just the totals.
- Set the extra rate to zero to isolate base growth, then add it back to gauge the uplift from bonus interest.
Assumptions and limits
- No taxes, transaction costs, or fund fees are modeled; adjust the rate downward if you want a net-of-cost view.
- Results use a steady rate for planning; real market returns vary from month to month.
- All figures are nominal and do not adjust for inflation.