Savings Calculator
See how a regular savings habit grows over time with compound interest working in the background. Useful for building a deposit or any other savings goal.
Use the savings calculator
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting.
What the savings calculator tells you
What it shows
Projected balance over time, total contributions, and interest earned.
What you need
Starting balance, regular contribution, interest rate and the time period.
What to do next
If the goal is a home deposit, check the deposit calculator to confirm your target.
Three things worth testing
- Automate the contribution on payday so it happens without a decision.
- Even a small increase in the regular amount compounds noticeably.
- Remember that interest earned is generally taxable.
Frequently asked questions
Does this account for tax on interest?
How often is interest compounded?
Turn the numbers into an approval
A calculator gives you an estimate. A broker gives you a lender, a rate and an approval. Talk to Ezy Loans Australia about what these numbers mean for your situation.
About the author
Amrinder Singh is the founder of Ezy Loans Australia and an Australian Credit Representative (number 505232) of Mortgage Australia Group Pty Ltd, Australian Credit Licence 377294. He works with first home buyers, investors and self employed borrowers across Australia, arranging home loans, refinancing, construction finance and asset finance through a broad panel of lenders.
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting. Calculators are provided under licence from the Finance Brokers Association of Australia. This page is general information only and does not take your objectives, financial situation or needs into account.
Ezy Loans Australia is a Perth-based mortgage and finance brokerage helping first home buyers, investors and refinancers across Australia secure the right loan with confidence.
Contact Info:
- 905 Hay St, Perth WA 6000
- amrinder@ezyloansaustralia.com.au
- 0432 066 362