Savings Goal Calculator
Calculate monthly savings needed to reach your financial goal. Compare simple savings, RD, and FD options.
Built & reviewed by Ankit Madia
Updated Jan 2025
How to Use This Calculator
Set your target amount and time period to see how much you need to save monthly. Compare three options: simple savings (piggy bank), Recurring Deposit (RD) with monthly contributions, or Fixed Deposit (FD) with a lump sum investment.
Why Choose RD Over Simple Savings?
- Earn Interest: Your money grows while you save
- Lower Monthly Commitment: Interest does part of the work
- Disciplined Saving: Fixed monthly auto-debit keeps you on track
- Safe & Guaranteed: Bank deposits are secure up to ₹5 lakh (DICGC)
When to Choose FD?
If you already have a lump sum amount, parking it in an FD lets you reach your goal without any monthly commitment. FDs offer slightly higher rates than RDs and are ideal for short-term goals of 1-3 years.
Popular Savings Goals
Emergency Fund
3-6 months of expenses
Vacation Fund
₹50K - ₹2L in 6-12 months
Down Payment
10-20% of car/home value
Wedding Fund
₹5L - ₹20L in 1-3 years