About this calculator
A savings calculator projects the future value of a savings plan where you make regular monthly deposits into an interest-bearing account. Enter your starting balance, the amount you'll deposit each month, the expected annual interest rate and the number of years, and the calculator will show what your pot could grow to.
The underlying maths is a future-value annuity formula. Each monthly deposit compounds forward at the monthly interest rate (annual rate ÷ 12) for the remaining months. Because early deposits have longer to grow, saving for 20 years produces dramatically more than double what saving for 10 years produces at the same monthly amount — time is the single biggest lever.
In South Africa, realistic returns depend on the vehicle. A money-market unit trust or 32-day notice account typically returns 7–9% per year before tax. Balanced unit trusts targeting CPI + 4–5% often hit 9–11% over the long term. Tax-Free Savings Accounts are worth using first because interest, dividends and capital gains inside them are exempt up to a R36,000 annual and R500,000 lifetime cap.
How to use it
- 1Enter your starting balance. Type the amount you already have saved, or 0 if you're starting fresh.
- 2Enter your monthly deposit. The amount you plan to save every month for the duration.
- 3Enter the interest rate. Use the effective annual rate on your savings vehicle.
- 4Choose the time horizon. The number of years you'll keep saving before drawing on the pot.