Grow your money faster with KOHO’s Savings Calculator
Plan it. Save it. Achieve it. Get a clear roadmap to your next big milestone with Canada’s most transparent savings rates.
Tell us about your goal
Share your goal details first, then discover your ideal plan.
What are you saving for?
You instantly get
Why use the KOHO Savings Calculator?
Planning to "save more money" won't get you there. But we can help.
Tell us a few details and we'll help you with exact numbers and a realistic timeline to reach your goal.
Here's what we need to know:
Your savings goal
Emergency fund, vacation, house down payment
Your timeline
When do you need the money?
Current savings
What you're starting with
Interest rate
Choose your preferred interest rate
See the difference rates make
The right interest rate means less work for you and more work for your money.
Try the free Calculator
Essential (2%): Save $1,400/month to reach your goal
Extra (2.5%): Save $1,380/month
Everything (3.5%): Save $1,350/month
Essential (2%): Save $408/month to reach your goal
Extra (2.5%): Save $402/month
Everything (3.5%): Save $396/month
Essential (2%): Save $275/month to reach your goal
Extra (2.5%): Save $273/month
Everything (3.5%): Save $271/month
$50K House Fund (3 years)
Essential (2%): Save $1,400/month to reach your goal
Extra (2.5%): Save $1,380/month
Everything (3.5%): Save $1,350/month
$10K Emergency Fund (2 years)
Essential (2%): Save $408/month to reach your goal
Extra (2.5%): Save $402/month
Everything (3.5%): Save $396/month
$5K Vacation Fund (18 months)
Essential (2%): Save $275/month to reach your goal
Extra (2.5%): Save $273/month
Everything (3.5%): Save $271/month
Start Saving Smarter with KOHO Today
Higher rates + automatic tools = faster results.
Earn up to 3.5% while you sleep. Your $10,000 earns $400/year in interest.
Every purchase rounds up to the nearest dollar. That $2.50 coffee becomes $0.50 in savings. Small change adds up fast.
Set your dream target and let KOHO save for you daily. Stick to your Goals without willpower battles.
Pick a plan and try it with no cost
Join millions of Canadians who are reaching their Goals faster with KOHO
The perfect plan for your needs | Essential Over $100/year in value³$0/mo² | Everything Over $500/year in value³$14.75/mo | |
|---|---|---|---|
Benefits | |||
| Unlimited cash back on groceries, transportation, food & drinks | 1% | 1.5% | 2% |
| Earn interest | 2% | 2.5% | 3.5% |
| Free Credit Score | |||
| Instant e-Transfers | |||
| No Foreign Transaction Fees | - | ||
| Discount on Credit Building | - | 30% | 50% |
| Advanced phone support | - | - |
Not sure which one speaks to you? Take our quiz to find the best plan for you.
Find a planLearn more about smart saving
Read our blog for the latest expert tips on building your savings, understanding interest rates, and reaching your financial goals faster.
4 min read
Learn how much you should save each month with this beginner-friendly guide.
FAQs About Savings Calculators in Canada
A savings calculator is simple to use. Enter your goal amount, target date, preferred KOHO plan, and current savings. The calculator shows you how much to save each month.
Want better results? Try different scenarios. Change your timeline or monthly amount. See how it affects your goals.
Interest grows your money over time. Here's the basic formula:
Simple interest: Principal × interest rate × time = interest earned
Example: $1,000 × 4% × 1 year = $40 in interest
But most accounts use compound interest. That means you earn interest on your interest too. This helps your money grow faster. KOHO's Savings Calculator does the math for you. Just enter your details and see your money grow.
Compound interest is your money's best friend. It means you earn interest on both your original savings and previous interest earned.
Use a compound interest calculator to:
- See how your money grows over time
- Compare different savings amounts
- Test various interest rates
- Plan realistic timelines for your goals
The earlier you start, the more compound interest helps. Even small amounts can grow significantly over time.
Reaching your savings goals takes the right strategy and tools:
Choose high-interest savings—Higher rates mean faster goal achievement.
Automate your savings—Set up automatic transfers. You can't spend what you don't see.
Use the 50/30/20 rule—Save 20% of your income. Spend 50% on needs, 30% on wants.
Track your progress—Real-time progress tracking keeps you motivated.
Earn while you spend—Cash back on purchases means every dollar back is a dollar saved.
Saving money gives you freedom and peace of mind. When unexpected costs happen, your savings keep you covered without going into debt. Whether you want to buy a home or take a vacation, having money saved makes your dreams possible.
Money in the bank means less worry about the future and helps reduce daily stress. Your savings also build wealth over time through compound interest, which means your money works for you even while you sleep. With good savings, you stay independent and won't need to borrow money or rely on others when life gets expensive.
You don't need to start big. Even saving $25 a month builds good habits and grows over time. The key is to start somewhere and let your money grow.
Still have questions?
Can't find the answer you're looking for? Please chat to our friendly team.Visit our FAQs¹Avg. competitor savings rate based on interest rates as of September 2025 of top 3 Canadian banks, RBC, TD and Scotiabank non-registered savings accounts with no fee and no minimum balance.
²KOHO Interest rate compared to the interest offered by the 5 biggest banks of Canada on [August 14, 2025] for regular savings account. Does not include promotion or special rates. Actual Interest may vary depending on your KOHO Account plan. Interest Rate is subject to change without prior notice. Interest is per annum calculated daily but paid monthly. Terms and Conditions apply.