UK Savings Goal

How to save £20,000 in 30 years at 4%

To reach a goal of £20,000 in 30 years with a 4% interest rate (compounded monthly), here's how much you'd need to save each month.

Monthly deposit

£28.82

Total deposited

£10,373.90

Interest earned

£9,626.10

Where to get 4% on your savings

UK easy-access savings accounts currently pay up to around 5% AER, with fixed-rate bonds going slightly higher. For tax-free growth, use a Cash ISA (up to £20,000/year) before a standard savings account.

Faster to your goal

Increase your rate — a 1% higher rate can save you years.
Set up a standing order on payday so saving happens automatically.
Use a Stocks & Shares ISA for long horizons (10+ years) to chase higher returns.

Save £20,000 in other timeframes

£20,000 in 1yr at 4%£20,000 in 2yr at 4%£20,000 in 3yr at 4%£20,000 in 5yr at 4%£20,000 in 7yr at 4%£20,000 in 10yr at 4%

Other goals over 30 years

£1,000 in 30yr at 4%£2,500 in 30yr at 4%£5,000 in 30yr at 4%£7,500 in 30yr at 4%£10,000 in 30yr at 4%£15,000 in 30yr at 4%