GOAL CALCULATOR

The goal calculator option enables the user to identify the amount of savings that has to be done to achieve a certain goal. This feature, hence, enables the user to figure out the feasibility of creating a goal.

The user needs to enter the goal details along with his targeted amount. The outcome will be based on values entered by user.

You are here How to reach here:

Dashboard > Toggle Menu > PFM > Goal > My Goals > Goal Calculator

Goal Category

Field Name

Description

Let's begin! Choose your dream Goal

and we will help to achieve it

Goal Category Card

Category card allowing the user to create a goal from the available list. Eg. Shopping, Education, Vacation etc.

To create a goal

Set Goal Amount

Field Name

Description

Set Goal Amount

Enter Goal Amount

The target amount to be saved for goal.
  1. In the Enter Goal Amount field, enter the target amount.
  2. Click Proceed. The Goal Calculator screen appears.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click Back to Dashboard to navigate to the dashboard.

Goal Calculator

Field Name

Description

Your Goal Amount

The targeted amount of your goal.

Have you already saved something for it?

The amount user has saved already for the goal or willing to add some amount towards achievement to begin with.

The Remaining Amount

The amount left after deduction of saved amount.

In how much time do you want to achieve this Goal?

Years, Months

This is the tenure of user’s goal, i.e. when it has to be achieved.

How frequently do you plan to set aside money for this Goal?

The frequency of the regular contributions.

The options are

  • Quarterly
  • Monthly
  • Weekly
  2. In the Have you already saved something for it? field; enter the amount which you have already saved for the goal.
  3. From the In how much time do you want to achieve this Goal? list, select the appropriate years and months i.e. time frame in which the user plans to achieve his goal.
  4. In the How frequently do you plan to set aside money for this Goal? field, select the appropriate option.
    The screen section displaying Your Monthly Contributionbased on the data entered and graph displaying your contribution and bank's contribution appears.
    The screen displays a bar chart showing How are we helping you achieve it? This displays the amount paid by user and the interest component provided by Bank and hence the total savings percentage.
  5. Click Set your goal Now! to create the goal.
    OR
    Click Cancel to abort the goal creation process.
    OR
    Click Back to Dashboard to navigate to the dashboard.

Note: For more details on creating a goal click Create Goal.

FAQs

ClosedWhat do the values in the fields ‘You Pay’ and ‘We Pay’ displayed in the Goal Calculator page signify?

The value displayed in the ‘You Pay’ field is the amount that you contribute towards your goal, while value displayed in the ‘We Pay’ component is interest accrued by the bank towards fulfillment of your goal.

ClosedCan I calculate the time I will require to achieve a Goal if I contribute a certain amount every month?

No, the goal calculator helps you to identify the amount you need to contribute at a defined frequency and time period. The Goal Calculator does not enable calculation of amount of time required to achieve a goal.

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