Have you made the decision to purchase a new home and now you are ready to put a savings plan into action? One of the first steps would be to set up a savings account with a great interest rate. There are many options on the market that will offer a higher savings interest rate with a minimum monthly deposit. Once you know the interest rate, you can use our savings calculator to enter your initial amount, regular deposit, deposit frequency, interest rate and saving term. The savings calculator will then show you your total amount at the end of the term, amount invested, and interest earned! This tool will help you recognise how much faster you could reach your goal by saving that little extra each month.
Disclaimer: The information provided by this calculator is indicative only and does not constitute professional advice. The calculator provides you with an estimate of how much you may be able to save over a given period of time based on the information you have entered. This is a handy first step before speaking with your mortgage broker. The calculations should not be relied upon for the purposes of entering into any financial commitment.