Free calculator
Savings goal calculator - how much to save each month
Work out how much you need to save each month to reach a savings target by a chosen date, with an optional interest assumption.
Last reviewed 13 October 2026 · next scheduled review 25 February 2027 · runs entirely in your browser
How to use it
- Enter your target amount - What you need to have saved by the end date.
- Enter what you have saved - Your current balance towards that goal.
- Enter the months available - How long you have before you need the money.
- Adjust the interest rate - Set it to zero to see the worst case with no growth at all.
Run it at 0% as well - that is what the plan needs from your own contributions alone.
Your plan
R0
needed each month
- Your own contributions
- R0
- From interest
- R0
- Still to save each month
- R0
Estimate only and not financial advice. Interest rates change, and interest above the annual exemption is taxed, so real outcomes will differ.
Enter your savings target, how much you have already saved, the time you have and an interest rate to see the monthly amount required and how much of the target interest contributes.
Interest helps, but contributions do the work
Run this tool once with the interest field set to zero and once with a realistic rate. The zero-rate figure is what the plan demands from your own pocket, and it is the number to budget around; the interest assumption is a bonus you cannot control.
Interest also compounds against you when you borrow, which is why paying down expensive debt and saving towards a goal compete for the same rand. Debt at a credit card rate costs far more than a savings account pays, so clearing it first usually wins mathematically.
Build the emergency fund before the goal
A savings goal is fragile without a buffer. If the only money you have is earmarked for a deposit on a car or a house, the first unexpected expense forces you to abandon the goal or borrow at a high rate. Three to six months of essential expenses, in a separate accessible account, is the usual benchmark.
Once the buffer exists, the goal savings can be locked away in a notice or fixed-deposit account where you are less likely to dip into it.
Where the money sits, and tax on interest
Interest earned above the annual exemption is taxable for anyone under 65 and above a higher threshold for people 65 and older. For a large balance, a tax-free savings account may be the better home for the first tranche of the money, within its annual and lifetime contribution limits.
Check the effective rate after fees rather than the advertised nominal rate. A slightly lower rate with no monthly fee often beats a higher headline rate on a small balance.
How this fits into the rest of the site
A calculator answers "what number", but the decision behind it is usually about a date and an official process. If you are checking whether a deadline has passed, the Important Dates Centre carries the published dates with their sources. If you are checking a government status, no calculator can help you and no website outside government can either - the relevant official link is listed at the bottom of this page.
We do not claim to be a government service and this tool has no official standing. It is an independent estimate published for planning, with its sources named so you can check every figure against the body that actually decides it.
Frequently asked questions
What interest rate should I assume?Toggle answer
Use the rate you are actually earning rather than a hoped-for rate, and run the calculation at zero as well. The zero case tells you what the plan requires from your own contributions alone, which is the number that matters if rates fall.
Is interest on my savings taxed?Toggle answer
Yes, above an annual exemption for individuals below a certain age, and interest is added to your taxable income. This calculator does not deduct that tax, so treat the result as slightly optimistic.
Where the numbers come from
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