Free Tool
Savings Goal Calculator
Find out how much you need to save every month to reach your financial goal. Enter your target amount, current savings, expected return, and timeline.
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Enter Details
₹
₹1,000₹1,00,00,000
₹
₹0₹1,00,00,000
%
0.0%15.0%
yrs
1 yrs30 yrs
Required Monthly Savings
₹12,596
Calculated in real-time
Total You'll Invest
₹7.56 L
Interest Earned
₹1.94 L
Target Amount
₹10.00 L
Time Period
5 yrs
Investment Breakdown
Results are estimates for educational purposes only. Actual values may vary based on market conditions, fees, taxes, and other factors. Please consult a financial advisor for personalized advice.
How is it Calculated?
PMT = (FV × r)
─────────────
(1 + r)ⁿ − 1
Where:
PMTMonthly savings requiredFVFuture value = Target Amount minus future value of current savingsrMonthly return rate = Annual Return ÷ 12 ÷ 100nNumber of months = Years × 12This formula calculates the fixed monthly contribution needed to reach a target amount, given a fixed rate of return. It accounts for compounding interest on both existing savings and future contributions.
Worked Examples
1House Down Payment Example
Target Amount = ₹20,00,000
Current Savings = ₹2,00,000
Annual Return = 8%
Time Period = 5 years
Result: Monthly Savings ≈ ₹21,500/month | Interest Earned ≈ ₹3.2 Lakhs
Frequently Asked Questions
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