Payment Calculator
Calculate the fixed monthly deposit needed to reach a future savings goal.
Calculate
Enter your values below.
Result
Required monthly payment
0
Formula used
Payment = Goal × r ÷ ((1+r)ⁿ − 1), where r is the monthly rate
Example: $50,000 goal at 5% over 60 months → monthly payment ≈ $736.44.
How to use this calculator
- Enter Savings goal, Annual interest rate (%), Number of months.
- Press Calculate to see your result instantly.
FAQ
Frequently asked questions
What kind of 'payment' does this calculate?
The monthly amount you'd need to save (a sinking fund) to reach a future goal — not a loan repayment.
How is this different from the Loan EMI Calculator?
EMI calculates a repayment on a loan you already owe; this calculates a savings deposit needed to reach a future amount.
What if the interest rate is 0%?
The payment is simply the goal divided evenly by the number of months.
Does a higher interest rate lower the required payment?
Yes — more of the goal is reached through interest, so smaller contributions are needed.