This Savings Calculator calculates the total accumulation in a savings account with a regular deposit arrangement.
Saving Calculator Calculator Assumptions
- 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 deposit frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as deposit 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.
This Saving Calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. You should always discuss your individual situation with an Australian Credit Licensee or Authorised Credit Representative.
Want to talk more about your home loan options?
If yes, then please get in touch with me today and I'll be happy to help. All my home loan and mortgage services (from the initial meeting, right through to home loan settlement) are completely free to you.