Savings Goal Calculator

Find out how long it takes to reach your goal, or how much you need to save each month.

$
E.g. down payment, emergency fund, vacation.
$
What you already have saved.
$
%
HYSA ~4-5%, money market ~4-5%.

Results

Time to Goal
—
Total Contributions
—
Interest Earned
—

The Power of Compound Interest on Savings

Even a modest interest rate accelerates your savings meaningfully over time. A high-yield savings account earning 4.5% compounds monthly, meaning your interest earns interest. The longer your timeline and the higher your contribution, the larger the gap between what you put in and what you end up with.

For a down payment goal, even a 12-24 month savings period at 4-5% APY in an HYSA generates meaningful interest income on top of your contributions — often enough to cover a month or two of contributions for free.

Saving for a Down Payment?

Use this calculator alongside the Home Affordability Calculator to set a realistic target. A conventional loan typically requires 5-20% down. FHA loans allow as low as 3.5%. Once you know your target home price and down payment percentage, this calculator tells you exactly how long your savings plan will take.

Related Calculators