How much should I save per month in India?

A common guideline is the 50/30/20 rule: save at least 20% of your take-home income. For a monthly income of ₹50,000, that means saving ₹10,000/month. For specific goals like an emergency fund (₹1.5 lakh), this calculator will tell you exactly how many months it takes at your chosen rate, or what monthly amount hits your target date.

What is a good interest rate for savings?

In India, regular savings accounts offer 2.5–4% per year. High-yield savings accounts and small finance banks offer 5–7%. Recurring Deposits (RDs) typically pay 6–7.5% p.a. Debt mutual funds or liquid funds can yield 6–8%. For long-term goals, equity mutual funds historically return 10–14% annually. Use 6–7% as a conservative estimate for this calculator.

How does the savings goal calculator work?

The calculator uses the compound interest formula: FV = P × (1+r)^n + PMT × ((1+r)^n − 1) / r, where P is your current savings, r is the monthly interest rate, n is the number of months, and PMT is your monthly contribution. It iterates month by month to find when your balance first reaches the target amount.

What is the inflation adjustment toggle?

When inflation adjustment is enabled, the calculator reduces your nominal annual interest rate by the inflation rate you enter. For example, if your savings earn 7% per year but inflation is 5%, the real return is approximately 2%. This gives you a more accurate picture of how long it truly takes to reach your goal in today's purchasing power.

How do I calculate the required monthly savings for a goal?

Switch to "How much should I save monthly?" mode. Enter your goal amount, current savings, target timeline, and interest rate. The calculator uses the formula: PMT = (Goal − P × (1+r)^n) × r / ((1+r)^n − 1), where r is the monthly rate and n is the number of months. If your current savings already exceed the future-valued goal, the required monthly amount is ₹0.

Can I track multiple savings goals at once?

Yes. The Multiple Goals Tracker lets you add up to 5 goals simultaneously — each with its own name, target amount, current savings, monthly contribution, and interest rate. Every goal card displays a live progress bar, the estimated months to completion, and a milestone badge when you cross 25%, 50%, 75%, or 100% of the target.

How is the month-by-month projection table calculated?

Each row applies the formula: Balance(n) = Balance(n−1) × (1 + monthly rate) + monthly contribution. The interest column shows the interest earned that month, the contribution column shows your deposit, and the progress column is the current balance divided by the goal amount as a percentage.

Which currency does the calculator support?

The calculator supports INR (₹), USD ($), GBP (£), EUR (€), and NPR (रू). Select your preferred currency from the Settings panel. The currency symbol updates across all inputs, result cards, and the projection table instantly.

Savings Goal Calculator

Calculate time or monthly savings needed to reach any financial goal

Updated Mar 2026100% Private — runs in browser

Savings Goal Calculator

Plan your savings journey step by step

Popular Goals

Inputs

Goal Amount (₹)

Current Savings (₹)

Monthly Contribution (₹)

Annual Interest Rate (%)

Inflation Adjustment

Reduces effective return by inflation rate

Results

Time to Reach Goal

3 yrs 4 mos

Total Contributed

₹4,50,000

Interest Earned

₹50,000

Final Amount

₹5,00,000

Your contributionsInterest earned

₹4,50,000₹50,000

Balance Growth Chart

Goal

Month 1Month 40

Month-by-Month Projection

(40 months total)

Month	Contribution	Interest	Balance	Progress
1	₹10,000	₹292	₹60,292	12%
2	₹10,000	₹352	₹70,643	14%
3	₹10,000	₹412	₹81,055	16%
4	₹10,000	₹473	₹91,528	18%
5	₹10,000	₹534	₹1,02,062	20%
6	₹10,000	₹595	₹1,12,658	23%
7	₹10,000	₹657	₹1,23,315	25%
8	₹10,000	₹719	₹1,34,034	27%
9	₹10,000	₹782	₹1,44,816	29%
10	₹10,000	₹845	₹1,55,661	31%
11	₹10,000	₹908	₹1,66,569	33%
12	₹10,000	₹972	₹1,77,540	36%
13	₹10,000	₹1,036	₹1,88,576	38%
14	₹10,000	₹1,100	₹1,99,676	40%
15	₹10,000	₹1,165	₹2,10,841	42%
16	₹10,000	₹1,230	₹2,22,071	44%
17	₹10,000	₹1,295	₹2,33,366	47%
18	₹10,000	₹1,361	₹2,44,727	49%
19	₹10,000	₹1,428	₹2,56,155	51%
20	₹10,000	₹1,494	₹2,67,649	54%
21	₹10,000	₹1,561	₹2,79,211	56%
22	₹10,000	₹1,629	₹2,90,839	58%
23	₹10,000	₹1,697	₹3,02,536	61%
24	₹10,000	₹1,765	₹3,14,301	63%

Multiple Goals Tracker

0/5

No goals added yet. Click "Add Goal" to track multiple savings targets simultaneously.