Savings Goal Calculator — India (₹)
Calculate exactly how much you need to save every month to reach any financial goal — home down payment, child's education, dream vacation, or emergency corpus — with your existing savings factored in.
How do I calculate monthly savings for a goal?
Use the formula: Monthly SIP = (Target - FV of existing savings) × monthly rate / ((1+rate)^months - 1) × 1/(1+rate). This tool does this automatically.
What return rate should I use for goal planning?
For short-term goals (<3 years): use 6–7% (liquid funds/RD). Medium-term (3–7 years): 8–10% (hybrid funds). Long-term (>7 years): 10–12% (equity mutual funds).
Should I factor in inflation when setting my savings goal?
Yes, especially for goals 5+ years away. If you need ₹10 lakh for a car today, you may need ₹13 lakh in 5 years at 5% inflation. Enter the inflation-adjusted future amount as your goal, not today's price.
What if I already have some savings toward my goal?
Enter your existing savings in the tool. It projects the future value of your current savings and reduces the monthly savings requirement accordingly. For example, ₹2 lakh existing savings earning 10% for 5 years grows to ₹3.22 lakh — reducing the monthly SIP needed by a significant amount.
Which is better for short-term savings goals — RD or liquid fund?
For goals under 1 year, liquid mutual funds (6–7% returns, same-day redemption) are generally better than RD (6.5–7% returns, premature closure penalty). For 1–3 year goals, RD locks in the interest rate which can be advantageous in a falling rate environment.