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Savings Goal Calculator

A savings goal planner that works backwards from your target amount and deadline. Enter your goal, timeframe, and expected return — see the exact monthly savings needed.

Save this much monthly

₹10,345

Total contributions

₹7,20,700

Interest earned

₹2,79,300

Method

How this calculator works

The calculator uses the future value of an annuity formula in reverse — solving for the monthly payment that reaches your goal after accounting for compound growth of existing savings.

FV of current = Current × (1 + r)ⁿ
Remaining = Goal − FV of current
Monthly = Remaining × r / (((1+r)ⁿ − 1) × (1+r))

r = annual rate / 12 / 100, n = months
  1. Enter your savings goal (target amount).
  2. Enter what you currently have saved.
  3. Set the timeframe in months.
  4. Enter expected annual return rate.
  5. See the exact monthly savings required.

Examples

Worked examples

Real numbers, end-to-end results.

Goal ₹10L · Current ₹1L · 5 yrs · 10%

Save ₹10,345/month

Standard medium-term goal like a car down payment.

Goal $50K · Current $5K · 3 yrs · 7%

Save $1,245/month

Emergency fund target in USD.

Use cases

When to use it

  • Planning for a house down payment.
  • Building an emergency fund to a target level.
  • Saving for a vacation or wedding.
  • Children's education fund planning.

FAQ

Frequently asked questions

How does the savings goal calculator work?
It works backwards from your target amount. Given your goal, timeframe, current savings, and expected return rate, it calculates the exact monthly deposit needed using the future value of annuity formula.
What return rate should I assume?
For conservative goals: 6-7% (FD/debt funds). For moderate goals: 10-12% (balanced/equity mutual funds). For aggressive goals: 12-15% (equity). Lower is safer for planning.
Does it account for existing savings?
Yes. Your current savings compound at the same rate over the timeframe, reducing how much extra you need to save monthly.
What if I can't save the required amount?
Either extend your timeframe, reduce the goal amount, increase expected returns (accept more risk), or add more to current savings with a lump sum.

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