Savings Calculator UK
See how much your savings could grow to
Enter your starting savings, monthly savings, interest rate and savings period.
What you have saved now, or £0 if you are starting from scratch.
How much you plan to add each month.
The yearly rate your savings account pays.
Common rates:
How many years you plan to save for.
Your estimated savings
Where your savings come from
Estimate assumes the rate stays the same, interest is added monthly and no money is withdrawn. Tax and inflation are not included.
How the savings calculator works
Enter what you have saved now, how much you plan to add each month, your interest rate and how many years you want to save for. The calculator shows how much your savings could grow to and splits the total into money you paid in and interest earned.
What AER means
Most UK savings accounts quote an AER (Annual Equivalent Rate). It lets you compare accounts on a like-for-like basis. This calculator adds interest monthly, so your bank's exact figure may differ slightly depending on how often it pays interest.
How compound interest and monthly deposits grow your savings
Each time interest is added, the next month's interest is worked out on a slightly bigger balance. Regular monthly deposits add to that balance too, and each deposit earns interest from the month it goes in. Saving for longer, or adding a little more each month, usually makes the biggest difference.
Worked example
Start with £5,000.00 and add £200.00 a month at 4% for 10 years. You pay in £29,000.00 in total, earn about £7,904.12 in interest, and could end up with £36,904.12.
This calculator shows cash savings before tax. To check tax on your interest, use the Savings Tax Calculator. For the Cash ISA allowance and 2027 rules, see the Cash ISA Calculator. To model investments with an assumed return, try the Investment Growth Calculator.