Savings Calculator
See how your savings will grow. Enter a starting balance, a monthly deposit, your account's annual rate (APY) and a time horizon to get the future balance, the interest earned, and a year-by-year breakdown.
How to use it
Enter your starting balance, your monthly deposit, the account's APY, and how many years you'll save. The calculator compounds monthly and shows your future balance, how much is deposits versus interest, and a chart of the balance growing.
Even modest regular deposits add up when they compound. Try increasing the monthly amount or extending the horizon to see how much faster your balance grows, and shop for a higher APY to boost the interest portion.
Frequently asked questions
What's the difference between APR and APY?
APY (annual percentage yield) includes the effect of compounding, so it reflects what you'll actually earn in a year. Savings accounts and CDs quote APY. Enter the APY here for the most accurate estimate.
How often is interest compounded?
This calculator compounds monthly, which is common for savings accounts. Daily compounding produces a very slightly higher result, but the difference is small at typical savings rates.
Are high-yield savings rates fixed?
Usually no — savings APYs are variable and can change as rates move. A CD locks a rate for a set term instead. Re-run the estimate if your rate changes.
BriskToolbox provides estimates for general information only and is not financial advice. Investment returns are not guaranteed.