Savings Calculator

How to use it

1. 1Enter your starting balance and regular depositMonthly is the usual rhythm, but any regular interval works.
2. 2Set the rate and the periodUse the rate your account actually pays, not an aspirational one. A projection built on an optimistic figure tells you nothing.
3. 3Read the splitTotal contributed against total interest earned. Over ten years at ordinary savings rates, contributions dominate; compounding only takes over across decades.

What it does not do

• Inflation is not applied. A balance in twenty years buys less than the same figure today, and the inflation calculator is the page that shows how much less.
• Tax on interest is not deducted, and the rules differ everywhere.
• It assumes the rate holds for the whole period. Variable-rate accounts do not, and introductory rates in particular do not.

Questions people ask

Why is my interest so much smaller than my contributions?

Because compounding needs both time and a meaningful rate before it dominates. Over five or ten years at typical savings rates, what you put in is nearly all of what you get out — which is an argument for the deposit amount rather than for hunting rates.

Is this the right page, or is the investment calculator?

This one for a savings account with a rate you were told. The investment calculator for an assumed rate of return, where the number is a scenario rather than a promise.

Questions about ToolsVerse itself — privacy, cost, what happens to your files — are answered in the frequently asked questions.

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