WHAT IS SAVINGS?
Savings works preety much like IRL investment, you put random amount of cash in it, then wait and observe how it grows bigger. The longest you keep your cash in it, the bigger an amount of it will become.
HOW IT WORKS?
If you want to open up your own savings account, head over to the Los Santos bank, and type /savings inside. You'll get a guide server message which looks like this.
As you can see it's not that difficult to manage it, because it has only one command avaiable for you to use. Anyway, to make the savings account work, you have to type the command, and an amount of cash that you wan't to deposit there, just like the guide shows f.ex.
REMEMBER, YOU CAN DEPOSIT NOT LESS THAN 50000$ AND NOT MORE THAN 100000!
Once you deposit your cash in the savings, DO NOT USE the /savings command again EVER, unless you want to close your savings account, which basically gives you your savings cash back + earned profit.
If you've finally decided to set your savings account up, keep that on mind that you'll have to learn how to save your cash up, and spent it wisely. Buying an expensive boats, helis, or any other useless things meanwhile having savings is completely out. Remember, as long as you have savings, payday or alternatively any job avaiable atm. will be your only source of cash. Also your regular account will be unavailable (all operations like: /bank, /withdraw will be blocked), so you're gonna have all your cash with yourself.
Well earning cash in that was requires you to do nothing actually, all you have to do is make sure that you're in game when payday comes. If you attend payday, you'll make your savings cash grow bigger. After one payday you'll get 0.5% of your actuall savings balance, f.ex.
If you had 100000$ in your savings account, you're gonna have 100000$ + 0.5% of 100000$ = 100500$, and so on if you had 1 Million in your account balance, you're gonna have 1000000$ + 0.5% of 1000000$ = 1005000$.
Be sure to go IG at least 25 minutes before the hour strikes, otherwise you won't get PayDay. Likewise the savings profit!
HOW LONG DOES IT GONNA TAKE FOR ME TO MAKE 1 MILLION?
Well, I've been browsing forums, searching for any savings calculator or any stuff like that, and I found nothing. As far as I'm concerned answering questions like: How long does it gonna take to make million, etc. is pointless. So I've desined the system which helps your easily count how long does it gonna take to make "X" cash.
Here's the formula working properly, available for you to count how many paydays is needed to get "X" amount.
The amount after 100 paydays equals:
(I suggest you to put this formula into Excel, 'cause you would have to use science calculator to count it)
Which equals = 163847$
To get the wanted amount just keep rising the variable up, 'till you get your wanted amount (Again it's good to do it in Excel).
Or if you're lazyass you can use this calculator (Thanks to Jane_Hanos):
"Current Principal" is the initial money you put in (Which is from 50000$ up to 100000$, as I mentioned before).
"Annual Addition" is 0.
"Years to grow" is however many paydays you plan to put it in there
"Intereast rate" is 0.5%
"Compound interest" should be left at 1.
I hope that this little guide will help you start your /savings account, and count remaining paydays etc.