Set a target amount and a deadline — see the exact monthly deposit needed to get there, interest included.
| Month | Deposited | Interest | Balance |
|---|
To hit your goal on schedule.
This calculator treats your goal as a future-value-of-annuity problem: it takes what you've already saved, projects it forward with interest, and solves for the monthly deposit that closes the remaining gap by your deadline.
Required payment = (Target − Current×(1+r)ᵀ) × r ÷ [(1+r)ᵀ − 1], where r is the monthly interest rate and n is the number of months, with the r=0 case falling back to simple division.
Pushing a goal out by even a few months can meaningfully lower the required monthly deposit, because both extra contribution time and extra compounding time work in your favor. Try the slider to see how sensitive your required deposit is to the timeline.
Try extending the number of months on the slider, lowering the target amount, or increasing the assumed interest rate if you can move the money into a higher-yield account — each shrinks the required deposit.
No — the interest shown is gross. If your savings are in a taxable account, your real spendable interest will be somewhat lower depending on your local tax treatment.
Yes, if you know it — even a rough estimate is fine for planning, but the more accurate your rate, the more accurate the projected balance and required deposit will be.