Working towards a deposit, a wedding, or a long-term safety net? Enter your target, what you've already saved, an expected return, and your timeline — we'll show the monthly contribution you need to hit your goal.
We use the future-value-of-an-annuity formula in reverse. First, we project what your existing savings will grow to (lump-sum compound growth). Then we solve for the monthly contribution that, compounding alongside, brings the total to your target. All numbers assume monthly compounding and consistent contributions.
It depends on where you're saving. Demand deposit accounts: typically 0%–2% (less DIRT at 33%). Fixed-term deposits: 2%–4% (less DIRT). State Savings (Prize Bonds, Savings Certs): 1%–2% tax-free. Diversified investment funds (long-term): historically 4%–7% real after fees. Use a conservative rate for short-term goals.
Deposit Interest Retention Tax (DIRT) is charged at 33% on most deposit interest in Ireland. If your bank quotes 4%, your effective after-tax rate is closer to 2.68%. State Savings products (e.g. An Post Savings Certs, Prize Bonds) are DIRT-free. The calculator's return field should be your after-tax expected rate.
For goals less than ~5 years away, deposit accounts are usually best — capital is safe and accessible. For longer-term goals (8+ years), diversified investing (e.g. an index ETF inside a pension or after-tax via an investment platform) typically outperforms cash even after Irish exit tax. Always have an emergency fund in cash before investing.
Try one of: (1) extend the timeline — even one extra year reduces monthly significantly; (2) increase your starting amount with a lump-sum savings push; (3) look for a higher-return product (with appropriate risk); (4) revise the goal down. Saving consistently is more important than saving perfectly.
Yes. Pension contributions get income-tax relief at your marginal rate (20% or 40%) — see the pension contribution calculator. State Savings products are DIRT-free. The Help-to-Buy scheme provides tax rebate up to €30,000 for first-time buyers. Check eligibility before counting them in.
Last updated: May 2026 · Rates sourced from Revenue
