SmartRateToolsCalculator
Savings Goal Calculator
Planning for a down payment, emergency fund, or vacation? This tool estimates how much to save monthly to hit your goal on time.
$
$
%
years
Required Monthly Savings
$501
To reach your goal in 36 months
Goal Gap
$20,000
Projected Interest
$1,957
Projection Summary
Final projected balance: $25,000
Total cash contributed: $23,043
How to use this calculator
Enter your target savings amount, current balance, expected APY, and timeline. The calculator then estimates the monthly contribution needed to reach your goal by that date.
Note: This is a planning estimate. Actual returns can vary, and this tool doesn't account for taxes, fees, or changing interest rates.
Related reading: How to choose a savings account, APY, and Compound Interest Calculator.