Savings Interest Calculator

The idea to create my own Savings Interest Calculator came to me quite a while ago. I have started my research to see what was out there on the internet and found a very few calculators, which really caught my attention. One of the best, by far, among all other templates on which I would like to stop, is the Savings Calculator created by Dr. Jon Wittwer (Vertex42.com).

The approach to savings and investments in general that was introduced by Dr. Wittwer in his savings calculator was almost an exact reflection of what I've had in mind, when I did my research.

All through, the savings calculator spreadsheet was working in the way it should, I have noticed very few details, which in my opinion this calculator needed to have, were not included, like for example Income Tax Deductions or the frequency of the contributions and compounded interest to be calculated independently or for example calculations of the amounts withdrawn from the savings account.

To add all this I have decided to create my own calculator from scratch with using ideas that Dr. Wittwer have already introduced to all in his spreadsheet.

The purpose of my Savings Interest Calculator is same, as any other template of its kind to estimate the future value of your savings or investments, but with little more detailed structure.

This savings interest calculator is packed with features that can help you to find an answer to most of your "What if...?" questions.

The calculator will allow you to estimate the future value of your savings with use of instruments such as your income tax, interest compound frequency, scheduled deposit frequency, variable interest rate (randomly picked annual interest rate between specified Min and Max), additional annual deposits. It also includes a yearly table that lets you specify your optional annual deposits, which may be different from year to year, make some adjustments to your annual contributions or enter any annual withdrawals from your savings account.

I have created this Savings Interest Calculator to make it very simple to customize to your financial requirements.

If you like our Savings Interest Calculator, you may also like our 401k Savings Calculator to estimate the future value of your 401(k) Savings, Retirement Savings Calculator or our Annuity Estimator,if you are trying to find out how much you need to save for retirement.

Screenshot 1 Screenshot 2 Preview Savings Interest Calculator on DocStoc	Savings Interest Calculator for Excel Use this calculator to estimate the future value of your savings account. This simple to use template contains a table which is showing the interest earned and tax paid on your earnings for each year. Along with scheduled deposits you can also include any additional annual deposits, and the yearly table will also allow you to enter any optional annual deposits, deposit adjustments or annual withdrawals when estimating the interest earned on your savings or investments. Unlike many other savings calculators, this spreadsheet is designed to allow you to make calculations of the compounded interest frequency, independently from frequency of your scheduled deposits. One of the great features is an Income Tax Calculator function, which is when enabled can estimate annual income tax on the earned interest. One of the best features of this savings calculator is an option to pick in between fixed and variable interest rates, which will allow to simulate fluctuation effect of market and how it will affect the annual interest rates and savings. Simply press F9 on your keyboard several time to see what happens. Read our Limitation of Use Policy that is applicable to our Savings Interest Calculator. We have also released Savings Interest Calculator that works with OpenOffice Calc, but with little less graphical functionalities.	>> Download Now Version: SIC EX 1.0 File Type: .xlsx Size: ~59.0 KB Required: Microsoft Excel® 2007 >> Download Now Version: SIC-97 1.0 File Type: .xls Size: ~152.0 KB Required: Microsoft Excel® 97, 2003(XP), 2007 Not Required: Installation Macros Cost: $0.00 Free for personal use License: View EULA Technical Support: Via Forum or Contact Us form.
	I would like to thank Dr. Jon Wittwer, for introducing me to this approach to the savings and investments. You can download the original Savings Calculator that Vertex42.com provides for free.
Disclaimer: This template and any information on this page is for educational purposes only. We do not guarantee the results. Use this template at your own risk. You should seek the advice of qualified professionals regarding your savings and investment plan before making any financial decisions.