APYCalculator.com

Savings Goal Calculator

Solve for the missing piece of a savings plan. Given a target balance, an expected APY, and a time horizon, calculate the required monthly contribution. Or fix the contribution and solve for the time required. Or fix everything else and solve for the lump sum needed today.

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Required monthly contribution
$277.83
Contribute this amount each month to reach $50,000.00 in 10 years at 4.5% APY.

How to use this calculator

The calculator has three modes — pick the one matching what you're trying to figure out:

  • Solve for monthly contribution. "I want $50,000 in 10 years and I have $5,000 today. How much do I need to put in each month?"
  • Solve for lump-sum deposit today. "I want $20,000 in 10 years and I'm not adding anything along the way. How much do I need to deposit now?" (This is the present-value calculation.)
  • Solve for time to reach target. "I have $5,000, I can save $300/month, and I want to reach $50,000. How long will that take?"

Choosing a realistic APY

For short-horizon goals (under 5 years), use the current rate of a high-yield savings account or CD — typically 4.0%–5.0% in the current rate environment. For long-horizon goals (10+ years), be cautious about assuming a high APY will hold; rates change, and a savings-account APY today may not be the savings-account APY in 2035. Plan with a conservative number and treat any over-performance as a buffer.

What the calculator doesn't model

Inflation, taxes, and APY changes during the time horizon. For long time horizons, factor in that $50,000 in 30 years buys substantially less than $50,000 today. For taxable accounts, the after-tax APY is lower than the headline APY — multiply by (1 − your marginal tax rate) for a closer approximation.

Rate environment · as of 2026-05-21

Current US high-yield savings account rates

3.80% – 4.10% APY

Typical range across leading online high-yield savings accounts. Rates change frequently — verify the current rate at the institution before opening an account.

See top banks →
Top US online savings banks

Current rates at these banks may fall outside the range shown above — verify at the institution.

SoFi Checking & Savings
  • · Direct deposit bonus eligible
  • · FDIC insured via partner banks
  • · No monthly fee
Visit →
Marcus by Goldman Sachs
  • · Same-day transfers (limits apply)
  • · No minimum balance
  • · No monthly fee
Visit →
Synchrony Bank
  • · Optional ATM card
  • · No minimum balance
  • · No monthly fee
Visit →
American Express National Bank
  • · No minimum balance
  • · Telephone customer service
  • · No monthly fee
Visit →
Discover Bank
  • · 24/7 customer service
  • · No minimum balance
  • · No monthly fee
Visit →

These are widely-recognized banks offering high-yield savings accounts. APYCalculator does not earn commissions on links from this site and is not affiliated with any of these institutions.

Frequently asked questions

What APY should I assume for long-term savings?+
For multi-year savings in a high-yield savings account, assuming the current top rate persists is optimistic. A more defensible plan uses a lower assumption — for example, the FDIC's longer-term national average rate plus a margin for using an online HYSA. For 10+ year horizons, a 3.0%–4.0% planning assumption is typically reasonable; treat anything above that as upside.
How do I account for inflation in my goal?+
The calculator works in nominal (today's) dollars. To plan in real (inflation-adjusted) terms, either inflate your goal target by your assumed inflation rate, or use a real APY assumption (nominal APY minus expected inflation) instead of the headline APY. Either approach gives a similar answer.
What if I can't afford the required monthly contribution?+
Three levers: extend the time horizon, lower the target, or seek a higher APY. The first two are within your control. A higher APY means a different account (HYSA vs CD vs investment), each with different risk and liquidity characteristics. For pure savings goals, sticking to FDIC-insured accounts is the safe path.
Does the calculator handle inconsistent contributions?+
No — it assumes a constant monthly contribution. For variable contributions, run the calculator with your average contribution, then build in a buffer. Or use a spreadsheet to model month-by-month if precision matters.