Savings Goal Calculator

Find out how much you need to save to reach your financial goals.

Goal Details

Your Savings Plan

You need to save

₹0 / month

Total Investment

₹0

Total Interest Earned

₹0

Achieving Your Financial Goals

Whether you're saving for a down payment, a car, or a vacation, setting a clear goal is the first step. This calculator helps with the second step: figuring out the monthly saving amount required to get there. By investing your savings, you can leverage the power of compounding to reach your goal faster.

How is the Monthly Saving Calculated?

This tool calculates the required monthly investment (like a SIP) to reach a future value (your target amount). It uses the future value of an annuity formula, solved for the monthly payment (P):

P = FV / [ ( (1+i)^n - 1 ) / i ]

Where 'FV' is your target amount, 'i' is the monthly rate of return, and 'n' is the number of months.

Tips for Success

  • Be Specific: Define your goals clearly (e.g., "Save ₹5 Lakhs for a car down payment in 3 years").
  • Automate Your Savings: Set up an automatic transfer to your investment account each month. This "pay yourself first" strategy is highly effective.
  • Review and Adjust: Revisit your goals and your progress annually. As your income grows, you may be able to increase your savings and reach your goals sooner.