How to use the savings goal calculator
- Enter your Savings goal, the amount you want to have.
- Enter your Current savings toward it (0 if starting fresh).
- Enter the Expected return (per year) on the money while you save.
- Enter the Time frame in years; halves such as 2.5 work.
- Pick a Currency, then read the Monthly saving needed, Total you put in and Growth from returns. The Progress by year table shows deposits and balance at each year-end.
What it does and when to use it
Big goals feel easier as a monthly number. A wedding fund, a home deposit, a new laptop or an emergency fund of six months’ costs can all be broken down this way. This calculator turns “I want ₹10 lakh in five years” into a monthly amount you can set up as a standing transfer.
It also shows the trade-offs. Add a year to the deadline, or raise the expected return, and the monthly figure drops. Start with a larger lump sum and it drops further. The SEC’s Investor.gov site offers a similar savings goal tool for US savers, which shows the same idea: a goal, a timeline and an interest rate decide the monthly contribution.
If you plan to put the money in a recurring deposit, the RD calculator shows how a fixed monthly deposit grows with quarterly compounding. For a long-term goal such as retirement, see the retirement savings calculator. To check how a single sum grows, use the future value calculator.
How it works
The calculator first grows your current savings to the deadline, then finds the monthly deposit that fills the gap.
- Monthly rate: i = yearly return ÷ 12 ÷ 100; number of months n = years × 12
- Future value of what you have: FVcurrent = current × (1 + i)^n
- Gap: remaining = goal − FVcurrent
- Monthly deposit (end of month): payment = remaining × i ÷ ((1 + i)^n − 1)
With a 0% return, the payment is simply remaining ÷ n. Growth from returns is the goal minus everything you put in.
Worked examples
These figures come from the calculator’s own function.
₹10 lakh in 5 years with ₹1 lakh saved, at 7%. Monthly saving needed ₹11,987.75. Total you put in ₹8,19,264.72, and growth from returns supplies ₹1,80,735.28.
No interest at all. Goal $12,000, nothing saved, 0%, 1 year. Monthly saving needed $1,000.00, which is the goal divided by 12, with $0.00 from growth.
A modest goal in a savings account. Goal $20,000, current savings $5,000, 4%, 3 years. Monthly saving needed $376.19, total put in $18,542.95, growth from returns $1,457.05.
Limits and tips
- Steady return assumed. Real returns vary; savings rates change and investments can lose value.
- Same deposit every month. If you expect your income to rise, a step-up SIP shows the effect of increasing deposits.
- Before tax. Interest and gains may be taxed.
- Calculations run in your browser and are not stored.
Frequently asked questions
When does the calculator assume I save each month?
What return should I use for a short-term goal?
What if the result is zero?
Does it account for inflation?
Sources
- Savings Goal Calculator — U.S. Securities and Exchange Commission (Investor.gov), accessed 2026-10-07
- Compound Interest (glossary) — U.S. Securities and Exchange Commission (Investor.gov), accessed 2026-10-07
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