Savings Calculator

A Simple way to Plan your Savings

See how your money could grow over time with our simple savings calculator

Other Savings Tools and Calculators

Compare Savings Accounts

Find the right Savings Accounts – compare their features side by side

Learn More (Compare Savings Accounts)

GIC Comparison Tool

View available GICs and compare their features side by side

Learn More (GIC Comparison Tool)

TFSA Calculator

See how fast your investment could grow within a TFSA vs. a taxable account

Learn More (TFSA Calculator)

RRSP Calculator

See how putting money regularly in an RRSP could grow your retirement savings.

Learn More (RRSP Calculator)

Learn More About Savings

Check out some resources to help you understand Canadian savings accounts

How does interest work on a savings account?

Most personal savings accounts offer simple interest (linear growth), while many investment accounts offer compound interest (exponential growth).

How to choose the best savings account for me

Learn how to choose the best savings account that fits your financial needs. Explore essential tips on comparing interest rates, features, and account types to make a smarter banking decision.

What are the different types of savings accounts in Canada?

What makes these accounts different from each other? Which one earns the most interest? Which one is the best fit for me? To answer some of your questions, let’s dive into the different types of savings accounts in Canada – and how you can pick the best one(s) for your goals.

What is a savings account and how do I use it?

A savings account lets you set money aside while keeping it safe. Learn how savings accounts work and how they can help you reach your financial goals.

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These results are general estimates only and (i) are based on the accuracy and completeness of the data you have entered, (ii) are based on assumptions that are believed to be reasonable, and (iii) are for informational purposes only and should not be relied on for advice. Actual results may vary, perhaps to a large degree. You should consult your professional advisor before taking any action. Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or results in connection with this calculator tool. Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results in connection with this calculator tool.