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Savings Goal Calculator

How long will it take to save up for something? Enter your goal and see when you'll reach it — plus what interest adds on top.

Your goal

How much do you need?

Already saved

Monthly saving

Interest rate (AER)

Set to 0% for a simple no-interest calculation

You'll reach your goal in

1 year, 3 months

That's around October 2027

£500£5,000

10% there already

Still need to save£4,500

Interest earned along the way+£147

Want to get there faster?

💡 Good to know

•Set up a standing order the day after payday — "pay yourself first" so you save before you spend.
•Even small amounts add up. £50/month = £600/year + interest.
•Use a Cash ISA or Lifetime ISA for tax-free interest. LISA gives you 25% government bonus (up to £1,000/yr) if you're saving for a first home.

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About this calculator

Whether you're saving for a holiday, an emergency fund, a car, or a deposit on your first home, this calculator shows how long it'll take at your current saving rate — and how much interest helps along the way.

The calculation assumes monthly compounding at a fixed interest rate. Real-world rates may change. This is a planning tool, not financial advice.

Last updated: July 2026

Frequently asked questions

How much should I save each month?

A common rule of thumb is the 50/30/20 rule: 50% of your income on needs, 30% on wants, and 20% on savings. But any amount is better than nothing — even £50/month adds up to £600/year before interest.

Where should I put my savings?

For short-term goals (under 2 years), a high-interest savings account or Cash ISA is usually best. For longer-term goals (5+ years), a Stocks & Shares ISA may offer better returns, though your capital is at risk.

How long does it take to save £10,000?

At £300/month with 4% interest, you'd reach £10,000 in about 2 years and 8 months. At £200/month, it would take around 3 years and 11 months. Use the calculator above to see your exact timeline.