Estimate how many months of monthly saving and interest it takes to reach a savings target, and the balance when you get there.
Calculations happen locally. We do not send your values to our server.
Starting with 5,000 and adding 500 a month at 3% reaches a 25,000 goal after 38 months, about 3 years and 2 months, with an estimated balance of 25,403.34. With no interest, 500 a month from zero reaches 10,000 in exactly 20 months.
Each simulated month the tool applies the annual rate divided by 12 to the balance and then adds the contribution at the end of that month. It counts months until the balance meets the goal, so the final balance usually passes the target slightly, and the result is shown in months and in years and months.
A constant rate and a constant contribution are assumptions. Real accounts may pay interest daily, change the rate, charge fees or tax the interest, and investments can fall in value. A plan with no deposits and a rate of zero or less can never reach the goal and is rejected.
Enter the savings goal, what you already have, the amount you will add each month and the expected annual rate. Starting with 5,000, adding 500 a month at 3% reaches a 25,000 goal after 38 months, or 3 years and 2 months, with an estimated balance of 25,403.34. The result is the first whole month in which the balance meets the goal, so the final balance usually passes the target slightly.
With no interest, 500 a month reaches 10,000 in exactly 20 months. At 5%, the same plan still needs 20 months; interest adds about 405.91 but not enough to save a whole month. By contrast, leaving 5,000 untouched at 3% with no monthly deposits takes 645 months, more than 53 years, to reach 25,000. For short and medium goals, the size and regularity of deposits usually decide the date more than the interest rate does.
Each month the tool applies the annual rate ÷ 12 to the balance and then adds the deposit at the end of the month. If your starting balance already meets the goal, the answer is 0 months: 1,200 saved toward a 1,000 target is already complete. Real accounts may pay interest daily, change rates, charge fees or tax interest, and investments can lose value. A plan with no deposits and a rate of zero or less can never reach the goal and is rejected.
| Input | Result |
|---|---|
25,000 ← 5,000 + 500/mo · 3% | 38 mo · 25,403.34 |
10,000 ← 0 + 500/mo · 0% | 20 mo · 10,000 |
10,000 ← 0 + 500/mo · 5% | 20 mo · 10,405.91 |
25,000 ← 5,000 + 0/mo · 3% | 645 mo · 25,026.26 |
1,000 ← 1,200 + 100/mo · 2% | 0 mo · 1,200 |
For short and medium goals, the deposit usually decides the date. Saving 500 a month from zero reaches 10,000 in 20 months at 0% and still 20 months at 5%, where interest adds about 405.91 but not a whole month. Leaving 5,000 at 3% with no deposits takes 645 months, more than 53 years, to reach 25,000.
At the end of each simulated month, after the interest for that month. Depositing at the start of the month would earn slightly more interest, so treat the result as a careful estimate rather than the earliest possible date.
The answer is 0 months and the balance shown is what you already have: 1,200 saved toward a 1,000 target is complete. The tool never counts a negative number of months, so raise the goal if you want to plan the next stage of saving.
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