About the Savings Growth Calculator
Savings growth with deposits that rise each year as your income grows, compounded monthly.
Also known as: growing savings, increasing deposits.
How to use this calculator
- Enter initial investment, monthly deposit, expected annual return, years and the other fields.
- The result updates instantly as you type — press Calculate (or Enter) at any time.
- Review the breakdown shown under the main result.
- Use Copy result or Share to save the answer or send a link with your inputs.
Formula
FV = P(1 + r)ⁿ + PMT·((1 + r)ⁿ − 1)/r (monthly periods)
- P
- = initial amount
- PMT
- = monthly contribution
- r
- = monthly rate
- n
- = months
Worked example
Using the values pre-filled in the calculator above:
- Initial investment = 2,000
- Monthly deposit = 250
- Expected annual return = 4 %
- Years = 10
- Increase contributions each year by = 5 %
the calculator returns:
- Future value: 48,546.95
- Total contributed: 39,733.68
- Total growth / interest: 8,813.27
- Growth as % of contributions: 22.18%