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Savings Calculator

See what your savings will grow to. Enter what you have now, how much you add each month, the APY your account pays and how many years you will keep going. The table shows the balance and interest year by year.

Quick examples
$
$
%

Banks advertise APY, which already includes compounding.

years
Your numbers stay in your browser. They are never uploaded.
Final balance$25,936.97
Total paid in
$23,000.00
Interest earned
$2,936.97
What the balance is made of
  • Paid in
  • Interest

Balance year by year

YearPaid inInterest earnedBalance

Saved setups

Save a set of inputs you reuse — your usual rate, your loan, your room sizes — and load it back in one tap.

    Your recent calculations

    Results you calculate here are kept on this device so you can come back to them.

      Formula

      Monthly rate i = (1 + APY)^(1/12) − 1
      Balance = start × (1 + i)^m + deposit × ((1 + i)^m − 1) ÷ i, where m is the number of months
      Interest earned = balance − start − total deposits

      How to use it

      1. Enter your current balance and your monthly deposit.
      2. Enter the APY shown by your bank.
      3. Enter the number of years and read the final balance.

      Worked examples

      $5,000 plus $300 a month at 4% APY for 5 years

      Final balance
      $25,936.97
      Total paid in
      $23,000.00
      Interest earned
      $2,936.97

      $20,000 left alone at 4.25% APY for 3 years

      Final balance
      $22,659.91
      Total paid in
      $20,000.00
      Interest earned
      $2,659.91

      APY versus interest rate

      US banks must advertise APY, which already includes compounding, so that is what this calculator asks for. If you only have a nominal rate, convert it with the APY calculator first. Savings rates are variable: the bank can change them at any time, so treat long projections as rough.

      Keeping savings safe

      In the US, deposits are insured by the FDIC (banks) or NCUA (credit unions) up to $250,000 per depositor, per institution, per ownership category. Interest is taxable as ordinary income in the year it is paid.

      Questions people ask

      How much will I have if I save $300 a month for 5 years?

      Starting from $5,000 at 4% APY you will have $25,936.97: $23,000 that you paid in and $2,936.97 of interest.

      How much does $200 a month become in 5 years?

      At 4% APY, $13,235.80 — $12,000 of deposits plus $1,235.80 of interest.

      How much interest does $20,000 earn in a savings account?

      At 4.25% APY it earns $850 in the first year and $2,659.91 over three years if the interest is left in.

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