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Home >> Calculators >> Simple Savings Calculator
People are surprised to find out how fast your savings account can build when you put a monthly deposit in a high yield savings account. With high yield savings accounts having APY's (annual percentage yields) as high as 5% or higher there has never been a better time to start saving for the future. If you made a monthly deposit of just $50 to a high yield savings account with a 5% APY for 20 years, you will end up with around $20,104. Use this simple savings calculator to calculate how much you can save over a time frame you specify. A savings account can really add up fast.
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| Instructions: Enter your total amount that you plan to deposit each month, the time frame that you plan on saving for, and the interest rate your savings account will earn. Once you have entered in all of the above information click "Compute Savings" and your done. Based on that information you will find out just how much you can save by making monthly deposits to your savings account.
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Important Notice: The Simple Savings Calculator is a free service and the information and results shown should only be used for informational purposes only. This calculator is considered reliable, but the results can not be guaranteed. We encourage you to seek the advice from qualified professionals regarding any of your personal finance issues.
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