Savings calculator

When we deposit our cash into a savings account, we'd all like to know exactly how hard that account is going to work for us. Money Buddy’s handy savings calculator below lets you define a few simple parameters and learn exactly how beneficial an account will be.

Instructions

Using the tool is easy, simply enter your initial deposit, a periodic payment amount, the account's interest rate and the term you wish to save for, and you will see exactly how much interest you can earn and what your total savings will be at the end of the term. Click "Email my results" to send your results to any email address.

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Disclaimer: Calculator is not intended to be relied on for the purposes of making a decision in relation to a financial product. Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as indication only. Advice should be obtained from a financial services licensee before making financial decisions. Calculator does not assume changes in the cost of living over time. Default assumptions: For the purpose of this calculator, all months are assumed to be of equal length. Please note that most savings accounts accrue on a daily basis and therefore number of days' interest will vary depending on days in each calendar month. One year is assumed to comprise 52 weeks and therefore 364 days (as opposed to the actual 365 days or 366 days).

Savings calculator

Savings calculator

Instructions

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