semkuSavings account calculator
How much will you have, or need to save each month?
Change calculation settings
Savings balances by year
| Time elapsed | Balance | You put in | Interest earned |
|---|---|---|---|
| 1 year | $7,643.69 | $7,400.00 | $243.69 |
| 2 years | $10,393.12 | $9,800.00 | $593.12 |
| 3 years | $13,252.54 | $12,200.00 | $1,052.54 |
| 4 years | $16,226.33 | $14,600.00 | $1,626.33 |
| 5 years | $19,319.07 | $17,000.00 | $2,319.07 |
Sources
Defines the annual yield used to derive this model's monthly growth rate; recurring deposits and goal amounts are calculated using the model below.
Calculation rules
APY includes compounding. This calculator models equal monthly growth at (1 + APY)^(1/12) − 1, with APY expressed as a decimal. The monthly rate is approximated to 30 significant digits. APR here means a nominal annual rate; its monthly rate is APR divided by 12, with APR expressed as a decimal.
The initial deposit earns interest from the start of the first month. Each monthly deposit is added after that month's interest for End of month, or before it for Start of month. Reach a goal uses the same deposit timing when finding the monthly amount needed.
Balance equals the initial deposit grown over the period plus the grown monthly deposits. You put in is the initial deposit plus all monthly deposits; Interest earned is the balance minus that total. At 0%, the balance is simply the money put in.
Reach a goal finds the smallest monthly deposit in whole cents that reaches the goal under these assumptions, rounding up to the next cent only when needed. The estimated balance uses that cent amount as the monthly deposit. No monthly deposit is needed if the initial deposit already meets the goal or grows to it by the end of the period.
Other displayed money amounts are rounded once to cents, with ties rounded away from zero. Equivalent annual rates are rounded once to two decimal places as percentages. Rounded balances and displayed equivalent rates are not used in later calculations.
The entered rate and monthly deposit stay the same for the entire period, and interest remains in the account. Savings account rates can change. Taxes, fees, withdrawals, annual deposits and increases in monthly deposits are not included. The example rate and amounts illustrate the calculation; they are not current bank rates or account offers.
Let P be the initial deposit, C the monthly deposit, G the goal, n the number of months and FV the ending balance. Use APY as a decimal, so 4% is 0.04, to obtain the monthly growth rate q. The factor S adds up the growth of end-of-month deposits; for start-of-month deposits, use S′ = S × (1 + q), otherwise S′ = S. At a zero rate, set S = n. Solving for C gives the monthly amount needed to cover the gap between the goal and the grown initial deposit. q = (1 + APY)^(1/12) − 1; S = ((1 + q)^n − 1)/q; FV = P(1 + q)^n + C × S′; C = max(0, ceil(100 × (G − P(1 + q)^n)/S′)/100). Round monetary outputs to cents once, with halfway values rounded away from zero; for the goal deposit, ceil rounds upward to a whole cent, and that deposit amount is then used to calculate the ending balance.
Frequently asked questions
- What would $5,000 plus $200 a month become in a savings account?
- At a fixed 4.00% APY over 5 years, with deposits at the end of each month, this model gives a balance of $19,319.07: $17,000.00 put in and $2,319.07 in interest. These are example inputs.
- How much would I need to save each month to reach $20,000?
- Starting with $1,000 at a fixed 4.00% APY for 3 years, the required monthly deposit is $494.88 at the end of each month, reaching an estimated $20,000.13. Start-of-month deposits need $493.27, reaching $20,000.31. Both amounts are rounded up to whole cents only as needed to reach the goal under this model.
- Which setting matches the APY on my savings account?
- Choose APY and enter the annual percentage yield from your account disclosure. APY already includes compounding. Choose APR only for a nominal annual rate; the calculator applies it with monthly compounding. Equivalent APR is the nominal annual rate that matches the entered APY under this model.
- Can I use this for a high-yield savings account?
- Yes, to estimate a balance or monthly savings goal using the APY you enter. The calculation holds that APY fixed. It does not compare accounts, find current rates or model different rates for different balance tiers.
- Why might my bank's balance differ from this estimate?
- This model spreads growth evenly across months at a fixed rate. Your account's rate changes, daily or average daily balance calculations, deposit effective dates and balance tiers can affect interest. Taxes, fees and withdrawals are also outside this estimate; check your bank's or credit union's disclosure for its terms.
Privacy on this page
Calculations run in your browser. The values you enter are not sent to the server or saved in browser storage. Reloading the page returns the inputs to their initial state.
To understand how the page is used and to improve the service, this page sends semku’s own usage statistics and automatic error reports. They go only to the dedicated endpoint under semku.com/api/telemetry/v1/. They are not used for advertising or third-party tracking.
The usage statistics include the stage of use (such as starting an operation or requesting a copy), the time it happened and fixed identifiers that distinguish the page and feature. They do not include the values you enter, the results shown or the text you copy. Inputs are not sent as hashes or as size categories either. The full URL and search terms are not sent.
Operations and sessions are distinguished by randomly generated identifiers. In the browser these exist only in temporary memory and are not written to cookies or browser storage. No identification based on cookies or combined device characteristics is used.
Error reports contain the error type, code and time, and, where available, a registered program-source identifier with the line and column number. The error message text and stack traces are not sent. Usage statistics and error reports also carry the site identifier, the published build and a random record identifier. For access records such as IP addresses, browser signals (User-Agent Client Hints), region and language, see the paragraph below.
The feedback form sends the rating you chose and the text you typed in the free-text field when you press the send button. A random ID that distinguishes the submission, the page, site and published build, and the type of request are also sent. There are no fields for your name, email address or phone number, and the values you enter are not attached automatically. Whatever you write in the free-text field is sent as is. Please do not enter personal data, passwords, authentication keys or payment details.
To improve the service, we record the country and state/province-level region at the time of your visit (an estimate based on the connecting network), which site you came from including the page path, and one display-language setting announced by your browser (for example, en-US). Location is kept to country and region only; no city or precise position is recorded. When you use the service, connection records, including your IP address, are automatically generated and retained to maintain service security and identify abnormal access. Cloudflare is the data processor for this site. Collection of this item is enabled only after this notice is published; we do not collect it retrospectively for use before collection is enabled. Query strings such as search terms are not recorded, and neither is the full list of preferred languages or the raw request headers. To identify bots, we may collect and use signals your browser reports about its type and version, along with an indication of whether automation tools are being used. These browser signals are estimates and do not conclusively identify your browser's type or version or whether automation tools are being used. Collection of this information is currently disabled and will only be enabled after this notice is published. We do not collect it retrospectively for use before collection is enabled. The raw User-Agent request header is not recorded. These records are per visit only and use no identifier that links one visit to another. Recording starts only with visits after this notice is published and is not applied retroactively to earlier visits. The region and the referring site have been recorded since 2026-09-20; the display language since 2026-09-24. Browser signals are not recorded yet.
Separately, when you visit the site, the hosting provider records your IP address, the time of the request and user-agent information about your browser and device in Cloudflare Pages’ standard access logs.
For details, see the privacy policy in Korean.
Calculations run in your browser without sending the financial values you enter to the server or storing them. See “Privacy on this page” for information about access data.