Savings Goal Calculator

Working towards a deposit, a car or an emergency fund? Enter the target, what you already have, the interest rate and the deadline — this calculator solves for the monthly deposit that gets you there.

Interest is compounded monthly and deposits are made at the end of each month.

The formula

Monthly = (Goal − Current·(1+r)^n) · r / ((1+r)^n − 1), r = annual rate ÷ 12

Worked example

With no interest, a $10,000 goal in one year needs $833.33 a month. Add interest or a longer timeline and the required deposit falls.

The example is pre-loaded in the result panel — press Calculate with your own numbers to replace it.

Frequently asked questions

What if my savings already exceed the goal?

Then no deposit is needed — the required monthly deposit shows $0 and the growth line tells you how much interest your existing savings contribute.

How accurate is the interest assumption?

Use a realistic rate for where the money will sit — a high-yield savings APY for cash goals, not stock-market returns.

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 2026-10-21 by CalcHub Editorial.

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Required monthly deposit	$833.33
Total you will deposit	$10,000.00
Growth from interest	$0.00

Quick answer