Savings Goal Calculator

About This Calculator

This calculator finds how long it takes for your monthly contributions — plus compound interest — to reach a savings goal. It compounds monthly.

Common savings goals

• Emergency fund: 3–6 months of expenses
• Down payment: 20% of home price to avoid PMI
• Car purchase: Buying outright or a large down payment to reduce loan costs

Where to keep savings

High-yield savings accounts (HYSA) often pay 4–5% APY as of 2026, far better than traditional savings accounts at 0.01–0.5%.