Savings Calculator
Saving for a deposit can be a daunting proposition; the final goal can seem so large and far away. This savings calculator will help you to break down the weekly, fortnightly or monthly savings required to reach your goal. It will also factor in any potential interest that could be earned on your savings along the way.
How the Savings Calculator works
Current Balance and Saving Goal?
To start off enter in how much you currently have in savings. This gives us the starting point for the calculation.
Next enter in you saving goal. For example you are looking at purchasing a $500,000 property and you want to have a 10% deposit then you would put $50,000 in as your goal.
Deposit Frequency?
How often will you be making a deposit?
My best tip is to match your pay cycles, if you are paid fortnightly then choose fortnightly as your deposit frequency. That way you know that once you get paid how much is going to be transferred to your savings account.
Interest Rate?
This is the interest rate that you are currently getting on your savings account.
TIP: Have a look around you may be able to get a better interest rate with a different savings account or by using a different bank.
Savings Term?
How long will you be saving for? Play around with this and see how it changes your regular deposits.
Contact Us
Call
(07) 3911 1190
Postal Address
PO Box 374
Sunnybank QLD 4109