Savings Calculator
See how much your savings grow over time with regular monthly deposits and compound interest.
Savings plan
Balance after 10 years
$77,450
Total deposited
$61,000
Interest earned
$16,450
From your deposits
78.8%
Frequently Asked Questions about the Savings Calculator
How does this calculate growth?
It steps month by month: add your monthly contribution, then apply the equivalent monthly rate derived from your annual rate and chosen compound frequency. Compounding is end of month on the new balance.
Can you walk through an example?
Start with $5,000, add $400 per month at 4.5% APY compounded monthly for 10 years. The balance reaches about $66,200. You contributed $53,000 and earned roughly $13,200 in interest.
Which compound frequency should I pick?
High-yield savings accounts and money market funds usually compound daily. CDs compound monthly or semi-annually. US Treasury bonds pay semi-annually. Use the frequency your account actually uses for accurate results.
Is the result pre-tax?
Yes. Interest on taxable savings accounts is taxed as ordinary income (federal plus state). To estimate after-tax growth, multiply your annual rate by 1 minus your marginal tax rate before entering it.
How do US tax-advantaged accounts change the math?
Roth IRA, HSA, and 529 accounts let interest compound tax-free if used for qualified purposes. Traditional IRAs and 401(k)s defer tax until withdrawal. The gross growth shown here is closer to reality inside those accounts.