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Savings calculator
See what a savings pot could grow to if you add a fixed amount every month and the balance earns interest, compounded monthly. A cash buffer is one of the cheapest ways to avoid short-term borrowing.
- Projected balance
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- Total paid in
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- Interest earned
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The formula
FV = P × (1 + i)m + C × [ ((1 + i)m − 1) / i ]
P is the starting amount, C is the monthly contribution, i is the monthly rate (annual rate divided by 12) and m is the number of months. If the rate is zero, the balance is simply what you paid in.
Worked example
Start with £500.00, add £100.00 a month for 5 years at 3% a year. You pay in £6,500.00 and the pot grows to about £7,045.48 — roughly £545.48 of interest.
This is an estimate. Real rates change, and interest may be taxed. It assumes a constant rate and that you never miss a monthly contribution.
Where to go next
- Loan affordability self-check — before any borrowing decision.
- Our business loan — the cost, the cap and who can apply.
- Help with payments — if money is tight, talk to us early.
- MoneyHelper — free, impartial money guidance backed by the government.
- gov.uk Business Finance Support — grants and finance you may be eligible for.