Using the Savings Calculator
Start with the balance already saved, then add the deposit you expect to make consistently. Try a lower rate as well as the advertised one if the account’s rate can change. Contributions often matter more than small rate differences over short periods.
Worked example
Use the example inputs below to reproduce this result. These are the form's starting values, not recommended targets. Changing your inputs updates your result above; this worked example stays fixed for comparison. Results are rounded for display.
Example inputs
- Starting balance
- 10000
- Monthly contribution
- 200
- Annual nominal return (%)
- 5
- Years
- 10
Example result
- Future balance
- 47,526.55
- Total contributions
- 34,000
- Growth
- 13,526.55
Method and assumptions
Monthly compounding with end-of-month contributions and a constant nominal annual rate. Taxes, fees and market fluctuations are excluded.
Separate contributions from growth
An ending balance can grow because you put more money in, because the assumed return is higher, or because the money has more time to compound. Those are different effects. Keep the contribution schedule consistent when comparing rates, and distinguish a mathematical projection from a return that is contractually guaranteed. Fees and taxes need their own assumptions.
Common question
Does this allow for withdrawals?
No. It assumes the starting balance stays invested and the stated contribution arrives every month. Regular withdrawals need a separate drawdown calculation.
Guide updated .