Savings Calculator – Plan Your Financial Future
The Savings Calculator helps you estimate how your investments will grow over time with compound interest. Whether you're saving for retirement, a child's education, or a big purchase, this tool helps you visualize your financial future.
Simply enter your initial investment, monthly contributions, expected return rate, and time period to see how your money can grow.
Formula:
Future Value = P(1 + r/n)^(nt) + PMT × [((1 + r/n)^(nt) - 1) / (r/n)]
Where:
P = principal investment amount
r = annual interest rate (decimal)
n = number of times interest is compounded per year
t = time the money is invested for (years)
PMT = monthly payment
Where:
P = principal investment amount
r = annual interest rate (decimal)
n = number of times interest is compounded per year
t = time the money is invested for (years)
PMT = monthly payment
Example:
An initial investment of ₹1,00,000 with monthly contributions of ₹10,000 at 8% annual return for 10 years grows to ₹23,04,481.