Savings growth calculator
Project a starting deposit, monthly contributions, and a hypothetical APY.
Your numbers
Rates shown are editable examples, not current offers.
Projected ending balance
$28,711After 5 years at a constant hypothetical APY.
- Starting balance
- $10,000
- Total contributions
- $25,000
- Interest earned
- $3,711
Understand this estimate
Converts the entered APY into an equivalent monthly growth rate. Contributions are added at the end of each month. The APY is held constant for the entire scenario, although actual savings rates can change. Excludes taxes, fees, withdrawals, and inflation. Annual balances are rounded for display.
How the calculation works
Annual percentage yield already reflects compounding over a year. The calculator converts the APY you enter into the equivalent monthly growth rate, so a balance that earns 4% APY for a full year grows by exactly 4%.
Each month, the balance grows at that rate and your monthly contribution is added at the end of the month. The APY stays the same for the whole projection, and taxes, fees, withdrawals, and inflation are not included.
Worked example: $10,000 plus $250 a month
Starting with $10,000 and adding $250 a month for five years means depositing $25,000 in total. At a constant 4% APY, the projected balance after five years is $28,711, of which $3,711 is interest.
Common questions
What is the difference between APY and an interest rate?
APY shows what a deposit earns in a year once compounding is included. An interest rate on its own does not reflect how often interest is added to the balance, so APY is the better number for comparing savings accounts.
Will my savings rate stay the same?
Savings account APYs are usually variable and can change at any time, so a projection that holds the rate constant is a scenario, not a promise. A fixed-rate CD holds its rate for the term, often with a penalty for early withdrawals.
Does this include taxes on interest?
No. The calculator does not subtract taxes on interest, fees, or the effect of inflation, so the actual spending power of the ending balance can be lower.
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