UK Savings Goal

How to save £7,500 in 5 years at 5%

To reach a goal of £7,500 in 5 years with a 5% interest rate (compounded monthly), here's how much you'd need to save each month.

Monthly deposit

£110.28

Total deposited

£6,617.06

Interest earned

£882.94

Where to get 5% 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 £7,500 in other timeframes

£7,500 in 1yr at 5%£7,500 in 2yr at 5%£7,500 in 3yr at 5%£7,500 in 7yr at 5%£7,500 in 10yr at 5%£7,500 in 15yr at 5%

Other goals over 5 years

£1,000 in 5yr at 5%£2,500 in 5yr at 5%£5,000 in 5yr at 5%£10,000 in 5yr at 5%£15,000 in 5yr at 5%£20,000 in 5yr at 5%