Free savings goal calculator

Savings calculator UK

Turn a big goal into manageable steps.

Choose a target and date to see the monthly and weekly amount needed, taking anything already saved into account. Add an AER to include interest compounded monthly.

No sign-up. Your figures stay in this browser.

Your goal

Leave at 0 for no interest. Interest is compounded monthly from the AER.

Worked example

You want £3,000 in 12 months and already have £600 saved.

No interest4% AER
Save each month£200.00£194.46
Weekly equivalent£46.15£44.88
You pay in over the year£2,400.00£2,333.52
Estimated interest£0.00£66.48

With 4% AER, the £600 grows to £624 and each monthly deposit earns interest from the month after it is paid in. The calculator works from the exact number of days to your date, so its result can differ by a few pence.

Make the target fit your budget

If the suggested amount is too high, try moving the date, reducing the target or starting with a smaller regular contribution. A goal you can maintain is more useful than an ambitious figure you have to abandon. The budget planner shows what you can afford each month.

Savings calculator FAQ

How much do I need to save each month to reach my goal?

Without interest, divide the amount still needed by the number of months until your date. With interest, you need a little less, because your savings and each deposit earn interest along the way. The calculator shows both monthly and weekly amounts.

How does the interest (AER) option work?

AER is the yearly rate including compounding. The calculator converts it to an equivalent monthly rate, grows what you have already saved, and assumes you pay in at the end of each month.

Does the savings calculator include tax on interest?

No. Whether you pay tax on savings interest depends on your income and allowances. GOV.UK explains tax on savings interest.

What if the monthly amount is more than I can afford?

Move the target date later, lower the target or start with what you can manage now and review it when your budget changes.

Watch every contribution move you forward.

Keep goals beside your everyday budget

Adjust the plan when life changes