Savings Calculator
Estimate a future savings balance or work backwards from a target. Separate the money you put aside from modelled growth and purchasing power.
Build a savings planYour monthly savings worksheet
Set your monthly budget or savings goal
- Final balance in today's money
- ₹0
- Target for selected horizon
- ₹0
- Gap to target
- ₹0
How contributions build the balance
Monthly closing balances and cumulative deposits. The target line, if present, is the amount for the selected horizon.
View yearly summary
| Period | Opening | New deposits | Growth / loss | Closing |
|---|
View monthly contribution schedule
Two-decimal display; unrounded monthly calculations. CSV includes every month.
| Month | Opening | Deposit | Growth / loss | Closing |
|---|
Separate the habit from the rate
Know which part of the balance you fund
Your starting balance and deposits are your contributions. Growth is what the chosen monthly model adds or subtracts.
Month-start deposit: closing balance = (opening balance + deposit) × (1 + monthly rate)
Modelled growth / loss: final balance − total deposits
Equal months, disclosed timing
The first recurring deposit is applied at the beginning or end of month 1, according to your timing choice. A beginning-of-month deposit receives one more monthly growth period than the corresponding end-of-month deposit.
Yearly increases apply every 12 plan months. Deposits are not rounded individually inside the model; monetary outputs are displayed to two decimals. Actual account rounding can differ.
Goal mode solves the first deposit
The solver grows the starting balance, then calculates the initial monthly amount needed for the selected target and duration. If you choose a yearly increase, later deposits rise from that initial amount.
At zero return and no increase, the calculation reduces to the remaining target divided by the number of months.
Four worked examples
Try a budget, a goal or a changing contribution
Illustrative rates and inflation only. Each button fills the worksheet, calculates and takes you to the result.
Example 01
A steady ₹5,000 monthly plan
₹10,000 starting balance, ₹5,000 at each month-end for 5 years; 7% nominal annual rate and no deposit increase.
Example 02
A goal without assumed growth
A ₹1,20,000 future target over 24 months, no starting balance, no increase and a zero return assumption.
Example 03
Raise the deposit after year one
₹2,000 at each month-start for 2 years, a 10% yearly deposit increase and zero return. Month 13 starts at ₹2,200.
Example 04
A goal priced in today’s money
A ₹1,00,000 current cost, 5% inflation and 3 years. With zero return and no starting balance, solve against the future cost.
State the goal in future money or today's money
The two goal descriptions lead to different required amounts when you assume inflation.
A fixed future payment
If you need ₹1,00,000 at the end of three years, enter that future amount. The nominal target remains ₹1,00,000. Inflation affects the purchasing-power estimate, not that fixed payment.
A cost measured today
If an item costs ₹1,00,000 today and you assume 5% annual inflation, its modelled three-year cost is ₹1,15,762.50. The solver uses that higher future amount.
Specific prices may change differently from your assumed inflation rate.
Today's-money balance: projected future balance ÷ (1 + inflation)years
Inflation here is your assumption, not a live CPI reading or a forecast. The real-balance output is not a bank balance or an amount of interest earned.
Official reference check · 15 October 2026
A savings plan is not a savings-account statement
Use official rules and your provider's actual terms to check what a general projection cannot know.
RBI: verify the account’s own terms
The RBI source page identifies the commercial-bank deposit directions and lists an update dated 1 October 2026. Check the consolidated directions and your bank’s current terms for the applicable interest rules.
This worksheet uses equal monthly periods. It does not reproduce daily balances, tiered rates, actual deposit dates or interest-credit entries in a bank statement.
RBI — commercial-bank deposit directionsDICGC: understand the ₹5 lakh limit
For eligible deposits, cover includes principal and interest up to ₹5 lakh per depositor per bank in the same right and capacity. Deposits at different branches of that bank are combined.
Your savings balance cannot be assessed alone if you also hold eligible FD, RD or other deposits there. This calculator does not determine your insurance entitlement.
DICGC — official deposit-insurance FAQThe review date is a source check, not a newly declared savings rate or an insurance-limit increase. Actual eligibility, provider policies and any later amendments must be checked separately.
Turn the projection into an affordable plan
Before you commit to the monthly amount
| Planning question | Use in this calculator | Check outside the model |
|---|---|---|
| Can I afford the contribution? | Inspect the initial amount and later yearly increases. | Essential expenses, debt payments and irregular bills. |
| What if the rate is lower? | Recalculate with a lower or zero assumed rate. | The product's actual rate changes and market risk. |
| Will I need access before the deadline? | Use a horizon that matches the planned goal. | Withdrawal restrictions, settlement, penalties and fees. |
| Am I targeting today's cost? | Choose today's-money target and an inflation assumption. | The actual item's price may move differently. |
| Is this all my money at one bank? | Treat the projected balance as one part of your records. | Aggregate other deposits for applicable DICGC coverage. |
Read the assumptions before the number
Savings calculator questions
Is this specifically a bank savings-account calculator?
No. It is a monthly savings-plan model. Bank-account interest can depend on daily balances, balance tiers, credit dates and actual rate changes. The estimate does not reproduce a bank statement.
What is the difference between the annual-rate conventions?
Nominal monthly compounding uses annual rate ÷ 12 as the monthly rate. Effective annual mode uses (1 + annual rate)^(1/12) − 1. The first convention generally produces a different effective yearly growth rate.
Can I start without an initial deposit?
Yes. Leave the starting balance blank or enter zero. The recurring deposits can build the plan from zero. Enter a zero monthly amount if you want to project only the starting balance.
When does the yearly contribution increase apply?
The first increase applies in month 13, then months 25, 37 and so on. It is measured from the start of this plan, not from January or the financial year.
Does reaching the target guarantee I can make the purchase?
No. The result follows your deposits, return, duration and target assumptions. Missed deposits, changing costs, tax, fees or different returns can alter the outcome.
Are mutual funds the same as interest-bearing deposits?
No. Mutual-fund NAVs reflect market-linked performance; they are not credited with a promised daily compound interest rate. For investment-specific assumptions, use the Investment Calculator and review its limits.
Are tax and fees included?
No. Taxes, account charges, product expenses and exit costs are not separately deducted. Keep the chosen return basis consistent and use the actual provider and tax rules for a net result.
Are my amounts stored or uploaded?
This tool's script calculates in your browser without transmitting inputs or saving them in browser storage. Downloads are files you choose to save. Other site scripts follow the site's privacy policy; External font requests go to Google’s font CDN; their normal request metadata is separate from calculator entries.
Savings rules & references
Official context for bank deposits and protection, plus related calculators for other tasks.