Saving Calculator

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This calculator calculates the total accumulation in a savings account with a regular deposit arrangement.

  • It does not take into account any possible monthly account fees.
  • Interest rate does not change over the saving term.
  • Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
  • It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
  • No rounding is done throughout calculation whereas account balance is rounded to at least the nearer cent in practice.

Note: The information provided by the calculator is intended to provide illustrative examples based on stated assumptions and your inputs. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. Borrowers should always discuss their individual situation with an Australian Credit Licensee or authorised Credit Representative.
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