Savings Calculator

Plan your financial goals with accuracy

₹
%
Yrs
Estimated Future Value
₹0
₹0
Total Invested
₹0
Interest Earned

💡 Consistency is the key to building long-term wealth.

What is a Savings Calculator?

A Savings Calculator helps you determine the future value of your money when you save a fixed amount regularly. It accounts for the power of compound interest, showing you how small monthly contributions grow into a significant corpus over time.

The Savings Formula

This calculator uses the Future Value of an Annuity formula:

$$FV = P \times \frac{(1 + r)^n - 1}{r} \times (1 + r)$$
  • P: Monthly savings amount
  • r: Monthly interest rate (Annual Rate / 12 / 100)
  • n: Total number of months (Years × 12)

Frequently Asked Questions

🎯 How much should I save every month?

A standard rule is 20-30% of your take-home salary. If you earn ₹50,000, aim to save at least ₹10,000-₹15,000. Start small if needed, but stay consistent.

🚑 How much emergency fund should I have?

You should aim for 6 to 12 months of essential living expenses. Keep this in a liquid account like a savings account or a liquid fund for easy access.

💰 How to save ₹5 lakhs in 2 years?

To reach ₹5 Lakhs in 24 months at a 7% interest rate, you would need to save approximately ₹19,800 per month. Without interest, it would be ₹20,833.

🏋️ What is the 50-30-20 savings rule?

50% of income goes to Needs (rent, bills), 30% to Wants (dining, hobbies), and 20% to Savings and debt repayment.

📈 Where should I invest my monthly savings?

For short-term goals (1-3 years), use RDs or Debt Funds. For long-term goals (5+ years), consider Equity Mutual Fund SIPs or PPF.