Savings Goal Calculator
Whether you're saving for a house, car, vacation, or financial freedom — this calculator tells you the exact monthly SIP required to hit your target. Enter your goal amount, timeline, expected return, and any existing savings. Includes a year-by-year growth chart.
Frequently Asked Questions
How does this calculator work?+
It uses the SIP future value formula to work backwards from your target. If you have existing savings, their future value is subtracted first — reducing how much you need to invest monthly. The formula accounts for monthly compounding at your expected return rate.
What return rate should I use?+
For equity mutual funds: 10–14% is a reasonable long-term estimate (15+ year horizon). For debt funds: 6–8%. For a mix: 10–12%. Conservative savers can use 7–8%. The actual rate varies — use a realistic estimate and review annually.
How do I save for multiple goals at once?+
Calculate each goal separately and add up the monthly SIPs. Prioritise: emergency fund first, then high-interest debt repayment, then long-term goals. Automate separate SIPs for each goal to avoid mixing funds.
Should I increase my SIP every year?+
Yes — step-up SIP (increasing 10–15% annually with salary growth) dramatically reduces the initial SIP burden. A step-up SIP can build the same corpus with 30–40% less invested in the first year. Use the Step-Up SIP Calculator to see the impact.