How much should I have in an emergency fund?

Financial experts recommend 3–6 months of monthly expenses as an emergency fund, kept in a liquid savings account or liquid mutual fund.

What is the best investment for a 3-year goal?

For 3-year goals, consider debt mutual funds, bank RDs, or short-duration FDs. Avoid high-risk equity investments for short timeframes.

Can I account for existing savings?

Yes. Enter your current savings in the calculator - they'll grow with your chosen return rate and reduce the monthly contribution needed.

What return rate should I use for goal planning?

Use 5–6% for conservative goals (FD/RD), 8–10% for moderate (debt funds), or 12%+ for long-term aggressive goals (equity funds).

How can I reach my goal faster?

Increase monthly contributions, find investments with better returns, or extend the timeline. Automating savings via SIP ensures consistency.

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Savings Goal Calculator

Find out how much to save monthly to reach any financial goal on time.

Goal Amount

₹1.00 L₹10.00 Cr

Current Savings

₹0₹1.00 Cr

Expected Return (% p.a.)

1.0%20.0%

Time to Goal (Years)

1 yr30 yrs

Monthly Savings Required

₹23,551

Achieve goal by April 2031

Total to Save

₹14.13 L

Interest Earned

₹4.87 L

Progress Milestones

Year 1

20.42%₹4.08 L

Year 2

37.45%₹7.49 L

Year 3

56.27%₹11.25 L

Year 4

77.05%₹15.41 L

Year 5

100%₹20.00 L

About the Savings Goal Calculator

Goal-based savings is far more effective than generic saving because it gives each rupee a purpose. Whether you are saving for a home down payment, a car, your child's college fund, or an international holiday, knowing the exact monthly savings needed removes guesswork. The key insight: the required monthly saving drops dramatically with a longer timeframe - which is why starting early always wins.

Monthly Savings Required

Monthly SIP = FV × r / ((1 + r)^n - 1) where FV = goal amount, r = monthly return rate, n = months

FV = Target amount · r = Expected monthly return = Annual return / 12 / 100 · n = Time to goal in months · If you already have savings: FV needed = Goal - Future value of existing savings

Worked Example

₹10 lakh car down payment in 2 years, existing savings ₹1 lakh

Goal amount:₹10,00,000

Existing savings:₹1,00,000

Timeline:2 years (24 months)

Expected return:8% p.a. (liquid fund)

Existing ₹1L grows to ≈ ₹1.17L · Remaining ≈ ₹8.83L · Monthly savings needed ≈ ₹34,000

Tips & Insights

1
Match the investment to the goal timeline: under 1 year - FD/savings account; 1-3 years - debt funds; above 3 years - equity SIP.
2
Create separate savings buckets for each goal - mixing emergency fund with vacation money leads to derailment.
3
Automate savings via standing instructions on the 1st of each month, right after salary credit.
4
For an emergency fund (3-6 months expenses), use a liquid mutual fund - it earns 6-7% while staying instantly accessible.
5
Account for inflation in long-term goals: a car costing ₹12L today may cost ₹18L in 5 years at 8% inflation.
6
Review and rebalance goal portfolios annually - equity allocation should reduce as the goal date approaches.

Why this matters for you

Most Indians save whatever is left after spending, rather than spending whatever is left after saving. Goal-based savings flips this around. When you know that ₹8,500/month for 5 years at 10% returns gets you to ₹6.5L, saving stops feeling like deprivation and starts feeling like progress toward something real.