Savings Calculator
Grow a savings balance with monthly deposits and interest.
Quick answer
- Interest is compounded monthly and deposits are assumed at the end of each month: Balance = P(1+r)^n + D · ((1+r)^n − 1)/r.
- Example: $1,000 plus $100/mo at 6% gives $2,295.23 after 1 year, of which $95.23 is interest.
- Enter an inflation rate to also see the real value: that same $2,295.23 is worth $2,228.38 in today's money at 3% inflation.
- Worked example — Projected balance: $2,295.23 (full example below).
Savings Calculator
| Projected balance | $2,295.23 |
| Total deposits | $2,200.00 |
| Interest earned | $95.23 |
| Value in today's money (after inflation) | $2,295.23 |
Starting with $1,000 and adding $100 a month at 6% gives about $2,295 after one year — $95 of it interest.
See what regular saving adds up to. Enter a starting balance, a monthly deposit and an interest rate, and get the projected balance, total deposits and interest earned.
Interest is compounded monthly and deposits are assumed at the end of each month.
The formula
Worked example
Starting with $1,000 and adding $100 a month at 6% gives about $2,295 after one year — $95 of it interest.
The example is pre-loaded in the result panel — press Calculate with your own numbers to replace it.
Frequently asked questions
What rate should I enter?
Use the account's APY. High-yield savings accounts publish an APY that already reflects compounding.
How do I find the monthly deposit for a target amount?
Use the Savings Goal Calculator — it solves for the deposit needed to reach a specific goal by a specific date.
What is the difference between nominal and real value?
The projected balance is the nominal value — the number of dollars in the account. The real value divides that by (1 + inflation)^years to express it in today's purchasing power. For example, $1,000 plus $100/mo at 6% for 1 year grows to $2,295.23 nominal, but at 3% inflation its real value is $2,228.38 in today's money. With inflation set to 0, the two values are identical.
Category: Finance calculators
Sources & methodology
This calculator applies the formula shown on this page exactly as written, using the standard definitions for its inputs. Results are computed from the values you enter — no data is stored — and are rounded only for display.
Content last reviewed by CalcHub Editorial.
Embed this calculator on your site
Free to use with attribution — paste the snippet below and the calculator appears on your page, with a link back to CalcHub.
Related calculators
Savings Goal Calculator
The monthly deposit needed to hit a target by a deadline.
Compound Interest Calculator
How money grows when interest earns interest, with optional regular contributions.
Retirement Calculator
Project your retirement savings from now to your retirement age.
Inflation Calculator
Future prices and the shrinking purchasing power of money.