Money & savings · Your inputs

Savings goal calculator UK: monthly target

Calculate the monthly saving needed to reach a target balance. Include existing savings, months to goal and a fixed AER, with end-of-month contributions.

Enter your figures

Your estimate

Required monthly contribution

£357.80

Your new contributions£8,587.21

Projected target or existing savings£10,000.00

Months to target24 months

Fixed AER and end-of-month deposits, with no tax or fees. Shows zero required contribution if existing savings alone would meet the goal.

How the savings goal calculator uk: monthly target works

Convert AER to a monthly rate and solve the future-value annuity formula for the monthly deposit.

Data basis: mathematical formula using your inputs. Example prices and rates are illustrative, not current market quotes.

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Worked example: savings goal

This illustration uses the calculator’s example inputs. It is not a quote or a recommended financial decision.

Target balance (£): 10,000
Already saved (£): 1,000
Months to target: 24
Annual equivalent rate — AER (%): 4

Required monthly contribution: £357.80

Convert AER to a monthly rate and solve the future-value annuity formula for the monthly deposit.

Savings goal: questions answered

What if my existing savings would already meet the target?

The required new monthly contribution is shown as zero. The projection still assumes the entered AER remains unchanged, with no withdrawals, fees or tax.

Plan the next step

Savings calculator UK: See how regular saving can add up over time.

Compound interest calculator UK: Project a lump sum at a fixed annual return.

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Using your result

Example inputs are a starting point. Replace them with your figures and select Calculate result. Results are rounded for display; calculations use unrounded values.

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