Money
Savings Goal Calculator
Set a target amount, timeline and interest rate — see the exact monthly saving you need.
How it works
We reverse the future value of an annuity formula to find the required monthly payment. Interest is compounded monthly, which matches how most UK savings accounts calculate returns. The result is the minimum you need to save each month to hit your goal exactly.
Frequently asked questions
What interest rate should I use?
Use the AER (Annual Equivalent Rate) shown on your savings account. Top easy-access rates in 2024 are around 4–5% AER.
Does this account for inflation?
No — this is a nominal calculation. To account for inflation, use a rate equal to your savings AER minus expected inflation.