Calculator

Savings Calculator

Project a savings balance using APY, regular deposits and time.

UNDERSTAND THE ANSWER

How is this calculated?

This estimate treats APY as a constant annual return compounded monthly and assumes deposits are made at the end of each month.

Savings future valueFV = Initial growth + Future value of monthly deposits

A practical example

$5,000 plus $300 per month at 4.25% for five years grows to about $25,000.

Calculation assumptions

  • APY stays constant throughout the saving period.
  • Deposits are made at the end of every month.
  • Withdrawals, taxes and account fees are excluded.