Find how long it takes to reach a savings goal with regular monthly deposits and interest.
How the savings goal calculator works
Set a target, enter what you’ve saved and your monthly deposit and rate, and this calculator estimates how many months and years it takes to get there.
Interest speeds things up, especially over longer horizons.
Getting your answer
- Enter your goal and current savings.
- Enter your monthly deposit and rate.
- Read the time to reach the goal.
The maths behind it
each month: balance = balance × (1 + rate/12) + deposit
count months until balance ≥ goal
A worked example
On the values this calculator opens with, the time to reach goal is 34. Underneath, In years comes out at 2.8 years and Total deposited at $19,000. Change any field and every figure updates as you type.
Questions people ask about this
How can I reach my goal faster?
Increase the monthly deposit, start with more, or earn a higher rate. Deposits usually matter most early on.
Does interest make a big difference?
Over long periods, yes — compounding adds up. Over short ones, deposits dominate.
Is this guaranteed?
No — real returns vary. Treat it as a planning estimate, not a promise.