MONEY & EVERYDAY

Savings goal

Find out how long it could take to reach a savings target.

Getting the tool ready...

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How it works

Find out how long it could take to reach a savings target. Fill in the form and choose Calculate. It opens with an example already filled in, so you can see how it works first.

What you need

Target amount (GBP)
Already saved (GBP)
Monthly contribution (GBP)
Nominal annual rate (%)

What you get

Time to goal, Paid in, Interest
Copy or save the result

Example

The tool opens with Target amount (GBP): 10000; Already saved (GBP): 1000; Monthly contribution (GBP): 250; Nominal annual rate (%): 4.

That gives: Time to goal: 2 years 10 months; Paid in: £9,500.00; Interest: £604.35.

Good to know

Balance after 34 whole months: £10,104.35. Fixed nominal rate compounded monthly; deposits at month-end. Excludes tax, fees and inflation. Not a forecast or guaranteed return.

Your privacy

What you type is worked out in your browser and is not sent anywhere. There are no accounts, adverts or tracking scripts.