Savings
Savings Goal Calculator
Determine how much to save monthly to reach your specific savings goal within a timeframe.
Formula
Monthly Saving = (Goal - Current) × r / ((1+r)^n - 1)
Goal Amount, Current Savings, Rate %, Tenure (months)
Results
Enter values above to see results
Monthly Saving = (Goal - Current) × r / ((1+r)^n - 1)
This calculates the monthly savings needed to reach a specific goal based on your current savings, expected rate of return, and time horizon. Starting earlier requires smaller monthly contributions due to the power of compounding.
Goal to save ₹50,00,000 in 5 years with ₹5,00,000 already saved at 8%
Input Values
Calculation
Applying the formula with the input values above:
Results
Monthly Saving Needed
₹62,000.00
Total to be Saved
₹42,20,000.00
- 1Enter your specific financial goal amount (child education: ₹20 lakh, marriage: ₹10 lakh).
- 2Input your current savings allocated towards this goal.
- 3Enter the expected return rate on your investment vehicle.
- 4Select the time horizon in months or years until you need the money.
- 5Start investing immediately; delaying costs significantly due to lost compounding.
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