How the savings goal calculator works
Last updated 9 November 2026
Most savings plans start with a number and a date: R 50 000 for a holiday next December, or a deposit for a house in three years. This calculator turns that into a monthly amount. Or, if you know what you can put away each month, it tells you how long it will take.
In “How much per month?” mode, the calculator uses the standard savings formula. It grows what you have saved already at your interest rate, then works out the level monthly amount that closes the gap by your date. Each month’s saving goes in at the end of the month and earns interest from then on.
In “How long will it take?” mode, it steps forward one month at a time. Each month it adds interest and your saving, and stops as soon as the balance reaches your goal. It looks up to 50 years ahead.
The chart shows your balance climbing toward the dashed goal line. The table lists every month for plans of three years or less, and every year for longer ones.
Worked example
Say you want R 100 000 in 24 months, starting from nothing, and your savings earn 7% a year. These are the calculator’s starting values.
- Without any interest, you would need R 100 000 ÷ 24 = R 4 166.67 a month.
- With interest at 7%, you need R 3 893.92 a month, which is R 272.74 less.
- Over 24 months you put in R 93 454. Interest makes up the other R 6 546.
Some other goals, at the same rate:
- A wedding: R 150 000 in 1 year 6 months means saving about R 7 928 a month.
- A deposit for a bond: R 200 000 in 3 years, with R 30 000 saved already, takes about R 4 082 a month.
- An emergency fund: with R 10 000 saved and R 2 500 a month, you reach R 90 000 in 2 years 5 months.
What the figures mean
- Saving each month is the amount to set aside at the end of every month. A debit order on payday makes it automatic.
- Time is how long until your balance first reaches the goal.
- Total you put in is what you have saved already plus all your monthly savings.
- Interest earned is the growth on top. The higher the rate and the longer the time, the bigger this part gets.
Things to watch
- Interest rates on savings move with the repo rate, so your real rate may change over the period. Re-run the numbers if it does.
- The goal is in today’s rands. If you are saving for something whose price rises, like a car or school fees, aim a bit higher.
- Interest above R 23 800 a year is taxable for under-65s (R 34 500 from 65). For most goal savings it stays below this.
- Notice periods and early withdrawal rules on some accounts can delay access to your money. Check them before you need it.
- For a bond deposit, remember transfer duty and fees on top. The bond affordability calculator shows what you might borrow.
For long-term growth with yearly increases, use the compound interest calculator.
Sources
The calculator uses standard savings maths with your own inputs. The interest exemption amounts come from the Budget 2026 changes. All figures were last checked on 9 November 2026, and the full list of sources is at the bottom of this page.