Savings Calculator

Our savings calculator estimates your future savings and recommends real accounts that will give you the highest returns.

Explainer Video
Explainer Video

How Does Our Savings Calculator Work?

This calculator works by asking you four questions:

  • 1
    How much you’d like to invest initially
  • 2
    Your monthly contribution
  • 3
    How long you plan on saving
  • 4
    Whether you need instant access to your funds

With this data, the calculator checks against real AER rates from Irish savings providers giving you the best choice of savings options for your needs.

Each card shows the account itself, what protects your money and what it costs to open the account. Next to this, a Financial Outcome panel turns the AER into a real number, what you’d earn before tax, and what you’d keep after DIRT. A Details button opens the full account information, while Open Account takes you straight to the provider.

Assumptions of this Calculator

This calculator assumes the interest rate you receive on your savings holds steady for the full term you select. Interest shown is a nominal figure, not adjusted for inflation over your term.

Compounding is set to occur monthly, with contributions added on the first day of each month. Your result is shown both before and after DIRT, deducted at the current rate of 33%.

What This Calculator Doesn’t Include

There are some things our calculator excludes:

  • Early withdrawal penalties and notice periods on fixed term accounts aren’t included.
  • Promotional rates that step down after an introductory period aren’t captured; only the headline AER is used.
  • Switching costs between providers aren’t included.
  • Extra lump sums added during your term won’t appear. The calculator works from a single upfront deposit, plus steady monthly contributions.

Try Our Other Calculators

Your savings goal is one part of a bigger financial picture. These calculators help you plan the rest.

Compound Interest Calculator

See how your money grows when compound interest is applied.

AER Calculator

Find your Annual Equivalent Rate (AER).

Inflation Calculator

See what your savings will really be worth once inflation eats into their value.

State Savings Calculator (coming soon)

Calculate your projected returns on government-backed savings products.

See our full range of calculators. 

How Much Should I Be Contributing To My Savings Each Month?

Your ideal monthly savings target depends on your financial goals, regular expenses and income stability. Below are three rules you can use to set the right benchmark for your budget.

Ten percent of your take-home pay goes into savings each month, before anything else is spent. The percentage stays fixed regardless of income, which makes it easy to automate and track without building a full budget.

Your take-home pay splits three ways under this rule: 50% toward needs like rent and bills, 30% toward wants, and the remaining 20% toward savings and extra debt repayment. This turns saving into one part of a full monthly budget, alongside spending on needs and wants.

An emergency fund, often called a rainy day fund, is money set aside to cover essential costs if your income stops without warning. The usual target sits between three and six months of expenses, based on how long it typically takes to recover from a lost income source. Kept in an account you can reach immediately, it’s there to be used the moment it’s needed.

How To Open A New Savings Account

Opening a new savings account is easy and straightforward when you have all the information in one place. Using our tools, you can quickly filter through available options, evaluate rates, and select the account that best matches your financial goals.

It’s never been easier to compare savings accounts. Our free savings accounts comparison tool compares 260+ of the best Irish and European accounts available to Irish savers, all vetted and reviewed by our experts.

Savings Account Comparison Tool

You can also browse our full guide to savings accounts in Ireland for rates, account types and tax information.

Frequently Asked Questions

Yes, if your savings sit in an instant access account, you can move them to a new provider immediately. A fixed term account holds your money until it matures, so moving early is not always possible – if it is, there’s usually a penalty.

No. The figures shown represent nominal interest earned over your term and do not adjust for purchasing power lost due to inflation.

Our calculator matches you against the top current rates from Irish savings providers, not the average rate paid by most high street banks. Many of Ireland’s traditional banks offer AERs well below what their competitors are offering for the same term.

Yes. Deposit Interest Retention Tax, DIRT, applies to savings interest in Ireland at 33%. Some providers deduct this automatically before your interest reaches you, others don’t. Check “DIRT at Source” on your chosen account before you rely on a net figure.

Enter your best estimate. You can always come back and recalculate with a different term. Your rate is assumed to hold for the full length you choose, and a shorter or longer term changes your result. Try a few different lengths to see how they compare.

Yes, there’s no limit on how many savings accounts you can hold across different providers. This calculator’s own result reflects that, splitting your lump sum into a fixed term account and your monthly contributions into an instant access account.

Yes, some fixed term accounts have minimum deposit requirements. These requirements usually range from €1,000 to €10,000 depending on the provider. Check the Details button on your matched account for the exact minimum required.