Savings Calculator – UK Growth Projections
Find out how your savings could grow over time, or work backwards from a goal to see how much you need to put away each month.
Whether you're building an emergency fund, saving for a house deposit, or simply trying to grow your wealth, understanding how your money compounds over time is essential. Even modest monthly contributions can produce surprisingly large sums when given enough time — and knowing the numbers helps you set realistic targets and stay motivated.
UK savers in 2026 benefit from some of the best interest rates in over a decade. Easy-access accounts and Cash ISAs now offer 4–5% AER, while fixed-rate bonds can pay even more. Combined with the Personal Savings Allowance — which lets basic-rate taxpayers earn up to £1,000 in interest tax-free — most people can grow their savings without losing a penny to tax.
This calculator lets you explore two scenarios: growth mode shows where you'll end up if you save a set amount each month, while goal mode works backwards from a target to tell you exactly how much you need to save monthly. Both modes include a visual chart and year-by-year breakdown so you can see the power of compounding in action.
Savings Calculator
What your savings projection really shows
Your projected total assumes a steady interest rate and consistent monthly contributions — real life is bumpier. Inflation also quietly erodes the buying power of your final figure: at 3% inflation, £10,000 in 10 years is worth around £7,400 in today's money. So aim for a real (after-inflation) return of at least 1–2% to genuinely grow wealth.
If your goal is <5 years away, prioritise the best easy-access or fixed-rate cash ISA. For longer horizons, a stocks & shares ISA historically beats cash by a wide margin, and pension contributions get a 25–45% tax top-up that no savings account can match.
Understanding UK Savings & Interest
How This Calculator Works
This calculator projects your savings growth using monthly compounding — the most common method used by UK banks and building societies. In growth mode, you enter how much you plan to save each month and see where you'll be after a set number of years. In goal mode, you enter a target amount and the calculator works out how much you need to save monthly to get there.
UK Savings Landscape in 2025
After years of near-zero rates, UK savers now have access to competitive interest rates. Easy-access accounts offer around 4–5% AER, while fixed-rate bonds can pay slightly more for locking money away. The Cash ISA remains a valuable option — particularly for higher-rate taxpayers or those with large savings pots that exceed their Personal Savings Allowance.
The Power of Starting Early
Time is the most powerful factor in savings growth. Saving £200/month at 4.5% for 10 years gives you about £30,000 — but continuing for 20 years gives you roughly £76,000, with over £28,000 of that coming from interest alone. The earlier you start, the more compounding works in your favour.
Important Considerations
- Interest rates can change — fixed-rate products lock in a rate but limit access
- FSCS protection covers up to £85,000 per banking group
- Consider splitting large sums across different banking groups for full protection
- This calculator assumes a constant rate — real returns will vary
- Tax on interest is not deducted in these projections
Frequently Asked Questions
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