Calculator
Savings Calculator
Saving for a deposit? Enter what you have now, what you can put away each month and an interest rate to see how your savings could grow.
Book a complimentary strategy sessionUse the savings calculator
How to use the savings calculator
- Enter your current savings.
- Enter how much you'll add each week, fortnight or month.
- Enter an interest rate and timeframe and read the projected balance.
Things to know
The result assumes you make every deposit and the interest rate stays the same. Savings rates change often and interest earned is taxable, so treat the figure as a guide. The biggest lever is usually the regular amount, not the rate.
Hot Tip: Lenders like to see 'genuine savings' built up over at least three months. A steady, regular deposit pattern helps your application as much as the balance.
Worked example (illustrative)
Starting with $15,000 and saving $1,000 a month at an illustrative rate shows the balance after two and three years, and how much of it is interest.
What this calculator assumes
- Deposits are made regularly.
- The rate doesn't change.
- Tax on interest and fees are not included.
Related guides
Frequently asked questions
Do lenders care how I saved my deposit?
What interest rate should I use?
Got a number? Let's see what it means for you
A calculator can tell you what the maths says. It can't tell you which lenders would accept your application, how they treat your income or whether a different structure would suit you better. Book a complimentary loan strategy session. We're based in Brisbane and help clients right across Australia, and in most cases you won't pay us a broker fee because we're paid by the lender you choose.
Book an appointmentPrefer to talk? Call (07) 3194 0888.