Savings Goal Calculator
Find out how much to save each month to reach a savings target by a set date, allowing for what you have already saved and the interest you earn.
- Total deposits
- £0
- Interest earned
- £0
- Weekly equivalent
- £0
How it works
Your existing savings keep growing at the interest rate while you add a fixed amount at the end of each month. The calculator finds the monthly amount that makes the total land on your target at the end of the period.
Things this calculator does not include
- Tax on interest.
- Changes in the interest rate over time.
- Inflation, which means your target may need to be higher in future pounds.
See Money Helper for guidance on building an emergency fund.
Frequently asked questions
How is the monthly saving worked out?
The calculator grows your existing savings at the interest rate, works out the shortfall against your target, and finds the level monthly deposit that closes it.
What if I can't afford that amount?
Try a longer timeframe or a lower target. Extending the time reduces the monthly amount, and interest does more of the work.
Are the interest rate and tax realistic?
Savings rates change, and easy-access rates can fall. Interest above your Personal Savings Allowance, or outside an ISA, may be taxed.
These results are estimates for general information only and are not financial or tax advice. See our disclaimer.