Savings Goal Calculator: How Much to Save Each Month

Have a target in mind, such as a down payment, a wedding or an emergency fund? Enter the goal, how long you have and what you can earn on savings. The calculator tells you the monthly amount that gets you there.

FreeNo sign-upRuns in your browserUpdated 2 Nov 2026
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Estimates for general information. This is not financial advice.

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How to use this calculator

  1. Enter the amount you want to have.
  2. Enter what you have already saved for this goal.
  3. Enter the number of years until you need the money.
  4. Enter a return you expect, or 0 if you keep it in cash.
  5. Read the monthly saving required.

The formula

Monthly saving = (Goal − Savings × (1 + i)^n) ÷ [((1 + i)^n − 1) ÷ i × (1 + i)]. Here i is the monthly return (annual rate ÷ 12 ÷ 100) and n is the number of months. If the rate is 0%, Monthly saving = (Goal − Savings) ÷ n.

Worked example

To reach ₹10,00,000 in 5 years with ₹50,000 already saved and an 8% return, you need about ₹12,512 a month. You deposit about ₹7,50,749 in total, and the rest of the goal comes from growth.

Understanding your result

If your current savings alone would grow to the goal, the answer is zero. A higher return lowers the monthly amount, but returns above savings-account rates carry risk. For short goals under three years, a low-risk option is usually wiser than chasing a high return.

When to use it

  • Plan a down payment, a trip, school fees or an emergency fund.
  • See how pushing the date back lowers the monthly amount.
  • Check whether your current monthly saving is enough.

Assumptions and limits

Assumes equal monthly deposits at the start of each month and a constant return. Taxes, fees and inflation are not included, so the real value of the goal may be lower than the number you enter.

Frequently asked questions

What return should I use?

For cash or a bank deposit use the interest rate. For market investments use a cautious figure.

Should I add inflation to my goal?

If the goal price will rise over time, enter the expected future price.

What if my goal is only a few months away?

Use decimals, such as 0.5 for six months.

Why does it show zero?

Your current savings are expected to reach the goal by themselves at that return.

Is the return guaranteed?

No. Only fixed-rate products have a known rate.