Deposits Needed for a Future Sum

Calculate the deposit amount needed to reach a specific future sum such as a home or automobile down payment.

The "deposit needed for a future sum" simulation will calculate the deposit amount you need to make in order to meet your financial goal. It can be used to calculate how much you should save in order to meet your future retirement needs, or to help you determine how much you need to regularly save in order to make a down payment on a house or car.

Note: Rates effective November 23, 2018 and are subject to change without notice.

Variable Products
AcceleRate High-Interest Savings 2.40%
Tax-Free Savings Account (TFSA)
Registered Retirement Savings Plans (RRSPs)
Registered Retirement Income Funds (RRIFs)
AcceleRate Fixed Term Products
(GICs, TFSAs, RRSPs and RRIFs)
1-Year Term 2.85%
2-Year Term 3.00%
3-Year Term 3.10%
4-Year Term 3.40%
5-Year Term 3.50%
6-Year Term 3.45%
7-Year Term 3.50%

*Rates subject to change.

All deposits including interest are guaranteed without limit by the Deposit Guarantee Corporation of Manitoba (DGCM). Specials are available for a limited time, conditions apply. 

Calculate Deposits Needed for Future Sum

The Desired Future Amount ($)
Number of Deposits per Year
Annual Interest Rate (%)
Compound Periods per Year
Number of
 


Calculations are designed for illustrative purposes only. Please contact one of our service support members for more details.

This model assumes the interest rate remains constant, deposits are made at the beginning of each period and the compounding of interest takes place at the end of the first specified period and each compounding period thereafter.

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AcceleRate Financial is committed to providing our members with excellent service and support. If you have any questions, comments or concerns, please contact our member services support centre.

 

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