Achieve savings target calculator

Find out how much you need to save weekly, fortnightly or monthly to achieve your savings target with this online calculator.

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Our current interest rates

Lender Product Annual Interest
Rate % p.a.
Comparison
Rate % p.a.
Home Package Plus SP 1 Year Fixed Rate OO LVR > 80% <= 90% ($150k +) (1 Year Fixed) 3.69% 4.47%
First Home Buyers Special 2 Year Choice Fixed Rate OO P&I (2 Year Fixed) 3.69% 5.38%
Premium Package Fixed Rate OO P&I Only (1 Year Fixed) 3.73% 4.78%
Premium Package Fixed Rate OO P&I Only (2 Year Fixed) 3.83% 4.72%
Fixed Rate Home Loan OO (2 Year Fixed) 3.84% 4.71%
Lender Product Annual Interest
Rate % p.a.
Comparison
Rate % p.a.
Basic Variable Rate OO LVR <= 80% ($150k +) P&I Only 3.79% 3.81%
Pro Pack Special SVR OO ($250k to $749k) LVR =<80% P&I 3.79% 4.16%
Premium Plus SP OO ($150k+) P&I 3.84% 4.24%
Premium Package SP OO LVR <= 80% P&I Only 3.85% 4.15%
Plus Home Loan OO LVR <= 80% ($150k +) P&I Only 3.86% 3.88%
Credit criteria, conditions, fees and charges apply. Subject to suitability. The comparison rates in this table are based on a loan amount of $150,000 and a term of 25 years. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

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Achieving your savings target

Saving for a deposit can be a daunting prospect when that final figure seems so large. Our savings calculator can help you to break down the weekly, fortnightly or monthly savings required to reach your goal. We also factor in any potential interest that could be earned on your savings throughout the period.

The calculator will ask you your savings target and how quickly you wish to reach your goal. By taking into account the interest you could be earning on your savings account, our calculator will give you an estimate of how much you need to be saving during your desired instalments.

It’s always good to get on the ball early and start discussions with a mortgage broker while you’re in the saving phase. A broker who knows you and your financial situation well will be able to assess your ability to service a loan and help find the right home loan for you when the time comes. Get in contact with a Mortgage Choice expert today to help set out your savings goals and work towards buying your property.

Disclaimer:
The results from these calculators are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

Borrowing Power:
The borrowing amount is a guide only. Loan repayments are based on the lowest interest rate (either standard variable or 3-year fixed rate, owner occupier) from our lender panel over a repayment period of 30 years. Rates and repayments are indicative only and subject to change. The results from this calculator are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

Loan Repayments:
The lowest interest rate from our lender panel is either standard variable or 3-year fixed for an owner-occupier. Rates and repayments are indicative only and subject to change. The results from this calculator are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.