Savings Goal Calculator

Calculate the monthly deposit needed to reach a savings goal, given the target amount, expected annual return, and number of years.

  • Free to use
  • Accurate results
  • No registration required
  • Works on all devices
Enter your savings goal, expected annual return, and number of years to calculate the monthly deposit needed to reach that goal.
₹
The target amount you want to reach.
%
The annual rate of return you expect on your monthly deposits.
How many years you have to reach the goal.

Your result

₹4,841.40

Required monthly deposit

Total amount deposited₹5,80,967.45
Total interest earned₹4,19,032.55

AI explanation

Formula

Required monthly deposit = Goal / ( ((1+i)^n − 1) / i × (1+i) ), i = monthly rate, n = months

Worked example

Reach ₹10,00,000 in 10 years at 10% expected return

Worked example: Reach ₹10,00,000 in 10 years at 10% expected return
FieldValue
Savings goal1000000
Expected annual return10
Number of years10
Required monthly deposit4841.4
Total amount deposited580968
Total interest earned419032

Assumptions

  • Uses the same annuity-due (deposit at the start of each month) convention as the SIP Calculator.
  • Assumes a fixed annual rate of return for the full period — actual investment returns vary.

Frequently asked questions

How is this different from the SIP Calculator?

The SIP Calculator projects the future value of a monthly investment you specify. This calculator works in reverse — you specify the future value (your goal), and it tells you the monthly deposit needed to reach it.

What if my expected return doesn't materialize?

This is an estimate based on your assumed rate of return. Actual investment returns fluctuate, especially for market-linked instruments — review and adjust your monthly deposit periodically based on actual performance.

Should I use a conservative or optimistic return rate?

For long-term goals, many planners suggest using a conservative estimate (lower than historical averages) to reduce the risk of falling short of your goal.

Related calculators

SIP CalculatorSavings CalculatorFuture Value Calculator

Related articles

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Three Different Ways to Decide How Much to Save

"How much should I save?" has at least three different answers depending on which question you're actually asking — what am I saving right now, what does a general rule of thumb suggest, or what does a specific future goal actually require.

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Sources

This calculator provides a mathematical estimate for general educational use and does not constitute investment advice. Actual returns depend on market performance and are not guaranteed.

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