Savings Calculator

When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than you put in.

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The content of this article is provided for information purposes only and is not intended to be, nor does it constitute, any form of personal advice. Investments in a currency other than sterling are exposed to currency exchange risk. Currency exchange rates are constantly changing, which may affect the value of the investment in sterling terms. You could lose money in sterling even if the stock price rises in the currency of origin. Stocks listed on overseas exchanges may be subject to additional dealing and exchange rate charges, and may have other tax implications, and may not provide the same, or any, regulatory protection as in the UK.

Use our savings calculator to see how you can reach your financial goals when you begin to deposit and save your money. 

This is the rate of interest received on the savings in one year.

Savings Calculator Help

Saving money might be something new for you or perhaps you’re already a regular saver. Either way, our calculator can help give you some direction by showing you what you can achieve. Here’s how to use the calculator to see where your good habits can take you.

How to use this savings calculator

In order to see the exciting magic of saving, just follow these four steps:

1. Enter how much you’ve currently saved.

2. Put in the amount you plan to deposit as a regular monthly contribution.

3. Choose the expected annual interest rate and the duration you plan to save for.

Our savvy calculator will do some financial wizardry and tell you what you can expect from your hard work.

Savings rate and calculator results

Saving for your future or building up some cash for a big purchase can be really exciting. Using this simulator is a great way to see how far you can go when saving becomes a normal part of your life. Feel free to play around and see how changing things like your savings rate can affect your results.

How do I choose a savings account?

You can check out our guide to savings to see a simple breakdown of what you need to know about the different types of accounts. Ideally, an account with a higher interest rate is going to help you reach your goals faster. The rate advertised is usually a yearly percentage. Sometimes this is paid in different ways, perhaps as a daily or monthly amount. Choosing an account that offers the best interest means that your money can benefit more from compound interest. This means your savings can get a boost. Because over time, your interest starts earning interest.

It’s important to be wary of providers that offer interest rates that are very high and remember to check that your savings (usually up to a certain limit) will be protected by FSCS.