Calculate how your savings will grow over time with compound interest.
Result
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Future Value
Total Deposits-
Total Interest Earned-
Total Deposits
Total Interest Earned
⚙️ How It Works
A savings calculator projects how your money grows over time using compound interest. You start with an initial deposit, add regular contributions, and the bank pays interest on your total balance. Compound interest means you earn interest on previously earned interest, accelerating growth significantly over long periods.
FV = P(1 + r/n)^(nt) + PMT × [((1 + r/n)^(nt) − 1) / (r/n)] where P = principal, r = annual rate, n = compounds/year, t = years, PMT = periodic contribution
Editorial Standards
Author
BetterProduct Finance Research Team - Formula review and consumer finance editorial QA
Reviewed by
Reviewed against consumer savings guidance and standard future-value math.
Updated
April 2026
Best used for
Savings goal planning and contribution pacing.
Languages checked
7 language editions aligned from the same source formulas.
Use Results Responsibly
Compare at least two scenarios before making a decision.
Keep rates, periods, and fees in the same unit system.
Verify taxes, insurance, and lender-specific rules with official documents.
Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods. It causes your savings to grow exponentially rather than linearly over time.
How often should I compound interest?
More frequent compounding yields slightly more growth. Daily compounding earns marginally more than monthly, which earns more than annual. The difference is small for typical savings rates but becomes meaningful over decades.
What is a high-yield savings account?
A high-yield savings account offers significantly higher interest rates than traditional savings accounts — often 4–5x more. They are typically offered by online banks with lower overhead costs.
How much should I save each month?
A common guideline is to save at least 20% of your income (the 50/30/20 rule). At minimum, build a 3–6 month emergency fund before investing for long-term goals.