Savings calculator with monthly deposits
Enter a starting balance, a monthly deposit, the annual rate and the number of years. $5,000 plus $250 a month at 4% for 10 years grows to $44,266.61: $35,000 of deposits and $9,266.61 of interest.
Inputs used by this calculator
Savings Calculator uses the fields below. The starting values reproduce the page example; replace them with values from the same units and time period before using the result.
| Input | Starting example | Accepted value | How it is used |
|---|---|---|---|
| Starting balance | 5,000 | 0 or greater | Supplies the starting balance quantity used by the published equation or result breakdown. |
| Monthly contribution | 250 | 0 or greater | Supplies the monthly contribution quantity used by the published equation or result breakdown. |
| Annual rate (%) | 4 | 0 to 100 | Supplies the annual rate (%) quantity used by the published equation or result breakdown. |
| Years | 10 | 0 to 100 | Supplies the years quantity used by the published equation or result breakdown. |
What this calculator shows
It projects how a savings balance grows with a regular monthly deposit and a fixed interest rate that compounds monthly. The result separates what you put in from the interest earned, so you can see how much of the total is growth.
How the balance is calculated
The starting balance grows with monthly compounding. Each deposit is made at the end of the month and grows for the months that remain. The two parts are added for the final balance.
starting balance × (1 + r)^ndeposit × ((1 + r)^n − 1) ÷ rr = annual rate ÷ 12, n = monthsRate versus time
Over short periods, the size of the deposits matters most; over long periods, the rate and time take over. The table below shows $5,000 plus $250 a month for 10 years at several rates. Starting earlier usually beats a slightly higher rate.
Keeping savings safe
The FDIC insures deposits at insured banks up to $250,000 per depositor, per bank, for each account ownership category. Savings accounts, money market deposit accounts and certificates of deposit at insured banks are covered; investments such as stocks and mutual funds are not.
Rates change
Savings account rates are variable and can move with the market. Use a conservative rate for planning, and check the APY your bank quotes. A certificate of deposit fixes the rate for a term; the CD Calculator models one.
What the model leaves out
Taxes on interest, fees, withdrawals and inflation are not included. To see what a future balance may buy, compare it with the Inflation Calculator.
$5,000 plus $250 a month for 10 years
| Annual rate | Balance after 10 years | Interest earned |
|---|---|---|
| 0% | $35,000.00 | $0.00 |
| 2% | $39,285.91 | $4,285.91 |
| 3% | $41,682.12 | $6,682.12 |
| 4% | $44,266.61 | $9,266.61 |
| 5% | $47,055.62 | $12,055.62 |
Frequently asked questions
How much will I have if I save $250 a month?
Starting from $5,000 at 4% for 10 years, about $44,266.61.
When are deposits added?
At the end of each month, and interest compounds monthly.
Is interest on savings taxable?
Usually yes; the calculator does not include taxes.
Are my savings insured?
Deposits at FDIC-insured banks are covered up to $250,000 per depositor, per bank, per ownership category.
What rate should I use?
The APY your bank offers, or a conservative estimate since savings rates change.
How is this different from compound interest?
This page adds monthly deposits; the Compound Interest Calculator grows a single amount.
Does inflation matter?
Yes. Compare the result with the Inflation Calculator to see future purchasing power.
What to keep in mind
Rates are fixed and compound monthly; tax, fees and inflation are excluded.
Results are rounded for display in US format, with money in dollars and cents; CSV exports keep full calculation precision. This is a calculation summary, not an official certificate.