UK Savings Goal

How to save £2,500 in 7 years at 1%

To reach a goal of £2,500 in 7 years with a 1% interest rate (compounded monthly), here's how much you'd need to save each month.

Monthly deposit

£28.74

Total deposited

£2,414.56

Interest earned

£85.44

Where to get 1% 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 £2,500 in other timeframes

£2,500 in 1yr at 1%£2,500 in 2yr at 1%£2,500 in 3yr at 1%£2,500 in 5yr at 1%£2,500 in 10yr at 1%£2,500 in 15yr at 1%

Other goals over 7 years

£1,000 in 7yr at 1%£5,000 in 7yr at 1%£7,500 in 7yr at 1%£10,000 in 7yr at 1%£15,000 in 7yr at 1%£20,000 in 7yr at 1%