Savings Goal Calculator

Plan how much to save monthly to achieve your financial goals

Your Savings Goal

₹
₹10,000 ₹1,00,00,000
1 year 30 years
%
0% 20%
₹

Tips for Reaching Your Goal

  • Set up automatic transfers to your savings account
  • Review your progress quarterly and adjust if needed
  • Consider increasing contributions with income growth
  • Look for ways to reduce expenses and save more

Your Savings Plan

To reach your goal of

₹5,00,000 for a New Car

Monthly Savings Needed

₹6,903

Total Contributions

₹4,14,180

Interest Earned

₹85,820

Initial Amount

₹50,000

Goal Progress 10%

Yearly Progress

Year Total Saved Interest Progress
1 ₹1,32,836 ₹4,836 26.6%
2 ₹2,20,299 ₹15,299 44.1%
3 ₹3,12,679 ₹30,679 62.5%
4 ₹4,10,384 ₹50,384 82.1%
5 ₹5,00,000 ₹85,820 100%

Strategies to Reach Your Goal Faster

Increase Monthly Contributions

Even a small increase in your monthly savings can significantly reduce the time needed to reach your goal.

Boost Your Returns

Consider slightly higher-risk investments for potentially better returns if your time horizon allows.

Save Windfalls

Put tax refunds, bonuses, or gifts directly toward your goal to accelerate your progress.

Reduce Expenses

Identify areas where you can cut back spending and redirect those funds to your savings goal.