Savings Goal Calculator
Set a savings target and see how much to put aside each month to reach it.
Your savings goal
Tell us where you want to get to. We’ll work out a monthly saving to help you get there.
The total you want in your savings pot.
Money you already have towards this goal. Enter 0 if you’re starting fresh.
Use the annual equivalent rate on your savings account, or 0 to leave out interest.
Time to reach your goal
How long you have to save.
Where do I find my interest rate?
Look for AER (annual equivalent rate) in your savings account details or provider’s app. Enter 3 for a rate of 3%. The starting rate is an example, not a current account offer. If you’re unsure, enter 0 to plan without interest.
Save each month
To reach your goal
- Your target
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- Starting balance + new savings
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- Estimated interest
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- Projected final balance
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Your path to your goal
View your progress breakdown
| Time | Money paid in | Interest earned | Total savings |
|---|
How we calculate your plan
We convert AER to an equivalent monthly interest rate. Your existing savings earn interest from the start; new savings are added at the end of each month. Interest stays in the account and earns further interest. The required monthly saving is rounded up to the next penny, so the final balance may be slightly above your target.
We assume the same rate and monthly saving for the whole period, with no withdrawals, fees, tax or account limits. If your existing savings could reach the target without more deposits, we show £0 per month. A lower rate could mean you need to save more. Figures are rounded for display.
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