Savings Goal Calculator: Required Monthly Deposit

Free calculator · clear working

Find the monthly deposit needed to reach a savings target by a chosen date. Include your current balance and an assumed interest rate to make a practical saving plan.

Go to the calculator ↓

Runs in your browser. No account needed. Calculator inputs stay on this page and are not sent to a calculation server.

Use the Savings Goal Calculator

How to use this calculator

Choose a target balance, enter your current savings, and set the number of months available. Use an annual nominal rate with monthly compounding. The result assumes equal deposits at the end of each month.

Formula and method

Monthly deposit = max(0, [G − P(1 + i)^n] × i ÷ [(1 + i)^n − 1]), where i is the annual nominal rate divided by 1,200. At 0%, deposit = max(0, [G − P] ÷ n).

Worked example

To reach USD 10,000 in 36 months from USD 1,000 with no interest, save USD 250 each month. An assumed 4% nominal annual rate compounded monthly lowers the required deposit to about USD 232.38.

Assumptions and limits

The rate is fixed for the full plan. Taxes, fees, inflation, and changing rates are excluded. A zero required deposit means the modeled starting balance already grows to at least the target. This is a planning estimate, not a guaranteed outcome.

Common questions

Related calculators

Method reference: SEC Investor.gov. Formula and tool checked October 31, 2026. Results are rounded for display.