Savings Goal Calculator

How to plan your savings goal

Enter the amount you want to accumulate and the number of years you have. Add an expected annual return if you plan to invest through a SIP, then the calculator shows exactly how much to set aside each month and how your investment and earnings build towards your goal.

Formula

Monthly SIP = goal × i ÷ [(1 + i)ⁿ − 1], where i is the monthly rate and n is the number of months. With a 0% return, monthly amount = goal ÷ months.

A SIP in equity mutual funds can help long-term goals grow faster, and ELSS funds add a Section 80C benefit. Expected returns are assumptions only; actual market results will vary and are not guaranteed.

Frequently Asked Questions

How is the monthly SIP calculated?

It uses the annuity formula PMT = FV × i ÷ [(1 + i)ⁿ − 1], where FV is your goal, i is the monthly rate (annual return ÷ 12) and n is the number of months. With a 0% return it simply divides the goal by the number of months.

What return rate should I enter?

For a plain cash goal, enter 0%. If you will invest through a SIP in mutual funds, enter a realistic expected annual return — but remember market returns fluctuate and are not guaranteed.

Which products suit a goal-based SIP?

Equity mutual funds suit long-term goals (5+ years), hybrid or debt funds suit medium-term goals, and recurring deposits or liquid funds suit short-term goals. ELSS funds also give a Section 80C deduction. Match the product to your time horizon and risk appetite.

How can I reach my goal faster?

Increase your monthly SIP, extend the timeframe, or target a higher (realistic) return. Even small step-ups in your SIP amount each year compound meaningfully over time.

Does this account for inflation?

No. The target is treated as a fixed future amount in rupees. To preserve purchasing power, set a goal that already allows for expected inflation.