Skip to content
Finance Calculators

Savings Calculator

Verified formula Updated Jun 2026 Private — runs on your device

Enter details
₹
₹
%
10 years
1 years40 years
Verified formula Private

Future balance

₹11,36,694

Total deposited
₹7,00,000
Interest earned
₹4,36,694

For general information only — not financial, tax, legal or medical advice. Verify before you rely on it.

How to use the Savings Calculator

The Savings Calculator works out your future balance, along with 2 related figures in an instant. Enter initial deposit, monthly contribution and annual interest rate and the result updates as you type — it is free, needs no sign-up, and runs entirely in your browser so your figures stay private.

  1. Enter the initial deposit.
  2. Enter the monthly contribution.
  3. Enter the annual interest rate.
  4. Set the time period.
  5. Read off your future balance, together with total deposited and interest earned — the calculator updates automatically, with no button to press.

Formula

The Savings Calculator uses the formula:

Future balance = Initial deposit × (1 + Annual interest rate ÷ 100 ÷ 12)^(Time period × 12) + Monthly contribution × ((1 + Annual interest rate ÷ 100 ÷ 12)^(Time period × 12) - 1) ÷ (Annual interest rate ÷ 100 ÷ 12)

Worked example

For example, with initial deposit of ₹100,000, monthly contribution of ₹5,000, annual interest rate of 8% and time period of 10 years, the future balance is ₹11,36,694.

Inputs used
Initial deposit ₹100,000
Monthly contribution ₹5,000
Annual interest rate 8%
Time period 10 years
Results
Future balance ₹11,36,694
Total deposited ₹7,00,000
Interest earned ₹4,36,694

Results are estimates for educational use, not professional advice.

Key terms explained

Interest rate
The percentage charged on a loan or paid on savings, usually quoted per year (per annum).

Frequently asked questions

It grows your initial deposit and every monthly contribution at the interest rate you set, compounding monthly, to project your future balance.

Total deposited is the money you put in yourself. Interest earned is the extra growth on top, which is the future balance minus your deposits.

Yes. This calculator compounds monthly. More frequent compounding adds a little more growth for the same annual rate.

Only for fixed-rate products. For market-linked savings the return varies, so treat the projection as an estimate.

The Savings Calculator uses the formula: Future balance = Initial deposit × (1 + Annual interest rate ÷ 100 ÷ 12)^(Time period × 12) + Monthly contribution × ((1 + Annual interest rate ÷ 100 ÷ 12)^(Time period × 12) - 1) ÷ (Annual interest rate ÷ 100 ÷ 12). For example, with initial deposit of ₹100,000, monthly contribution of ₹5,000, annual interest rate of 8% and time period of 10 years, the future balance is ₹11,36,694.

Enter the initial deposit. Enter the monthly contribution. Enter the annual interest rate. Set the time period. Read off your future balance, together with total deposited and interest earned — the calculator updates automatically, with no button to press.

Related calculators