Skip to main content

Savings Goal Calculator

Work backwards from a goal. Enter how much you need, by when, and what your savings might earn to find the amount to set aside every month.

  • Free, no sign-up
  • Nothing you enter is stored
  • Updated 30 Sept 2026

Plan your savings goal

Results update as you change the numbers.

₹
₹50,000₹1,00,00,000
1 year40 years
0% p.a.15% p.a.
₹
₹0₹50,00,000

Save every month

₹13,520

to reach ₹10,00,000 in 5 years

  • Money you put in₹8,11,176
    81%
  • Growth₹1,88,824
    19%

The cost of waiting

  • Start 1 year later₹17,629 a month
  • Start 3 years later₹38,305 a month
How your money growsSaved so farGrowth
Year-by-year growthSee how your savings build towards the goal
YearSaved so farGrowthValue at year end
Year 1₹1,62,235₹7,205₹1,69,440
Year 2₹3,24,470₹28,473₹3,52,944
Year 3₹4,86,705₹64,972₹5,51,678
Year 4₹6,48,941₹1,17,966₹7,66,907
Year 5₹8,11,176₹1,88,824₹10,00,000

How does a savings goal calculator work?

Most calculators tell you what your savings will grow to. This one works the other way round: you tell it the amount you need and when, and it works out the monthly saving that gets you there.

It counts the growth your savings earn along the way, so you need to put in less than the goal itself. If you already have some money set aside, it counts that growth too.

How is the monthly saving calculated?

Monthly saving

Monthly saving = (Goal − current savings × (1 + i)ⁿ) × i ÷ (((1 + i)ⁿ − 1) × (1 + i))

  • i is the expected monthly return: the yearly return divided by 12, as a decimal.
  • n is the number of months until your goal.
  • Each saving is assumed to be made at the start of the month, like a SIP.

For example, to have ₹10 lakh in 5 years with an expected return of 8% a year, you need to save about ₹13,520 a month. You put in about ₹8.1 lakh and the rest comes from growth.

Choosing an expected return

Time to goalWhere people often saveReturn to plan with
Under 3 yearsSavings account, fixed or recurring depositAbout 5% to 7%
3 to 5 yearsDeposits, debt or hybrid mutual fundsAbout 6% to 8%
Over 5 yearsEquity mutual funds through a SIPAbout 10% to 12%

These are planning ranges, not promises. Short-term goals should not depend on the stock market, because a fall just before you need the money leaves no time to recover. If in doubt, use a lower return: you will save a little more and be more likely to reach the goal.

The cost of waiting

Every year you wait leaves less time for growth, so the monthly amount rises quickly. Here is what it takes to reach ₹10 lakh by the same date at 10% a year:

When you startTime leftMonthly saving needed
Start today10 years₹4,841
Start 2 years later8 years₹6,784
Start 5 years later5 years₹12,807

Adjust your goal for inflation

Things cost more in the future. If a goal costs ₹10 lakh today and prices rise by 6% a year, it will cost about ₹13.4 lakh in 5 years. Enter the future cost as your goal amount so your plan keeps up with rising prices.

Future cost of a goal

Future cost = today's cost × (1 + inflation)^years

Common goals to plan for

  • An emergency fund of three to six months of expenses.
  • A down payment on a home or a car.
  • Your child's school or college fees.
  • A wedding, a family trip or a big purchase.
  • A retirement fund that supports you for decades.

Protect the goals you are saving for

A savings plan works only if you can keep paying into it. A medical emergency can empty your savings, and your family's goals would stall if your income stopped. Health insurance and term life cover keep your plans on track when the unexpected happens.

Frequently asked questions

1.How much should I save each month to reach my goal?

It depends on the goal amount, how many years you have and the return you expect. For example, ₹10 lakh in 5 years at 8% a year needs about ₹13,520 a month. Use the calculator for your own numbers.

2.What if my current savings already cover the goal?

The calculator tells you when the money you already have is expected to grow to your goal on its own. You may still want to keep saving as a buffer in case returns are lower than expected.

3.Should I include inflation in my goal?

Yes, for goals more than a year or two away. Estimate what the goal will cost when you need it, for example by adding 6% a year, and enter that as your goal amount.

4.What return should I assume?

Match it to where you will keep the money. Deposits suit short-term goals and often earn 5% to 7%, while long-term goals invested in equity funds are often planned at 10% to 12%. A lower assumption is safer.

5.Can I save a lump sum instead of monthly?

Yes. Enter any amount you can put aside today as savings you already have, and the calculator reduces the monthly saving needed for the rest.

Calculators

Popular calculators

Free tools to put real numbers on your money, health and family plans before you choose a policy. Pick one to get started.

View all health calculatorsView all financial calculators
Explore cover

Protect the plan behind your savings

Savings grow over years, but life can change overnight. Life cover and long-term plans make sure your family's goals stay on track even if you are not there.

Need help with a claim?Our team stays with you from intimation to settlement.

Guides to read next

Plain-English guides from the Policywings desk on the same topic as this calculator.

All investment & planning articles