How to use the savings calculator
Enter what you already have, what you can add each month, and a rate you can actually earn. High-yield savings and money-market rates move with central-bank policy, so the rate you lock in today may not last the whole horizon — model a lower rate too, not just the headline one.
The chart separates the money you deposit from the interest it earns, so you can see the point where growth starts doing more work than your deposits.
Frequently asked questions
- Is a savings account enough to reach a long-term goal?
- For short horizons (an emergency fund, a 1–3 year goal), yes — safety beats growth. For multi-decade goals, a cash rate often loses to inflation; that is where invested accounts come in.
- What rate is realistic?
- Cash and high-yield savings have ranged widely with interest-rate cycles. Use a conservative figure for anything beyond a couple of years.
This calculator is for educational purposes only and does not constitute financial advice. Rates change; results are estimates.