Free Savings Interest Calculator

Our Savings Interest Calculator is a free Microsoft® Excel® spreadsheet that is simple to use and much more powerful than most online savings calculators that you'll find. Not only will it estimate the future values of your savings account with optional periodic deposits. It includes a yearly amortization table, that lets you specify annual deposits of irregular amounts. You can also choose an option that randomizes the annual interest rates within the Min/Max values you specify so you can get an idea of what a fluctuating market might do to your investment.

If you are comfortable with Excel, you can also use our Savings Calculator as a template and customize it to suit your own personal situation. We also have a 401(k) Savings Calculator designed specifically for estimating the future value of a 401(k) savings account.

Screenshot	Simple Savings Interest Calculator Estimate the interest earned in your savings account. Include regular monthly deposits and/or an annual deposit. This simple to use Microsoft Excel spreadsheet includes a yearly amortization table showing the interest earned each year. A unique feature of this savings calculator is the option to select a random interest rate, to simulate fluctuation in the market. Just press F9 a bunch of times to see how the graph of the balance changes. "No Installation, No Macros - Just a simple spreadsheet"	Download Now Cost: Free ($0.00) File Type: .xls Size: ~55 KB Version: 1.0 Required: Microsoft Excel 2002(XP), 2003, or 2007 Technical Support: Contact Vertex42 via email if you have questions specifically about this spreadsheet.
Screenshot	Savings Calculator for Google Docs This version of the Savings Calculator is designed to work in OpenOffice and Google Spreadsheets. It does not include the random interest rate feature.	Download Now Cost: Free ($0.00) File Type: .xls Size: ~50 KB Version: 1.0 Required: Microsoft Excel, OpenOffice, or Google Spreadsheets

Using the Savings Calculator

Example: Let's say I start with $2500 in a savings account with a 4.0% annual interest rate (perhaps a CD or money market). I plan to deposit $100 per month. I also want to deposit my tax return, but that will change from year to year. I'm pretty sure that my tax return will be at least $1000 so I enter that in the Additional Annual Investments field. The screenshot below shows that my estimated savings balance after 30 years is about $134,500.

In the graph, the interest earned is the difference between the End Balance (blue line) and the Cumulative Interest (magenta line). The graph shows that until about 10 years, the majority of the balance is the cumulative amount I've invested rather than interest earned. But, by the end of the 30 years, my balance is almost twice what I put in.