Savings Calculator

It steps through every month: interest compounds on the running balance first, then your contribution is added at the end of the month (an ordinary annuity). The annual rate is converted into an equivalent monthly rate using the compound frequency you select, so daily, monthly, quarterly, or any other frequency is handled accurately.

Start with $5,000, contribute $400 a month at 4.5% compounded monthly for 10 years. Your final balance is about $68,300. You put in $53,000 out of pocket and the remaining $15,300 came from interest. Results are estimates, since actual account terms may vary.

High-yield savings accounts and money market funds typically compound daily. CDs often compound monthly or semi-annually. US Treasury bonds pay interest semi-annually. Match the frequency stated in your account agreement for the most accurate projection.

Yes, all figures are pre-tax. Interest on taxable accounts is taxed as ordinary income each year. To approximate your after-tax growth rate, multiply your annual rate by (1 - your marginal tax rate) and enter that adjusted figure instead.

Roth IRA, HSA, and 529 withdrawals for qualified expenses are tax-free, so the gross growth shown here closely reflects real gains. Traditional IRA and 401(k) balances are tax-deferred, meaning you owe income tax on withdrawals in retirement, so the displayed figure overstates spendable dollars for those accounts.