Savings Calculator
When purchasing a brand-new home, you are likely to be comparing and applying for home loans. You’ll also be dealing with approvals and determining repayment amounts, frequency and loan term. This means that you’ll be thinking about your financial future, so it’s a great idea to take the next step and set a savings goal.
With our savings calculator, you can project how much you’ll be able to save over time with an initial amount and ongoing contributions.
Benefits of Our Savings Calculator
When you use this savings calculator, you can estimate your investment growth over time. Simply enter in your savings details, such as your Initial Amount, Deposit Amount, Deposit Frequency, Interest Rate and Saving Term, and we can give you an estimated amount that demonstrates the total amount of money you’ll have at the end of the term, the total amount of money you have invested and your total interest earned over the years.
With these calculations, you can estimate how long it will take for you to save for a deposit on a brand-new home from Complete. Our growth calculator allows you to set a goal and determine how much you’ll need to put away each month to reach that goal.
Calculator Definitions
See an explanation of the terms used in this calculator below:
This refers to the amount of money you can initially contribute to the account. This number is key to the growth of your savings.
This is the amount that you will contribute with each pay period. This will be informed by your monthly budget. Try out different amounts to see how higher deposits can boost investment growth over time.
You can choose how often you will deposit the amount specified above into your savings account. Again, the frequency you choose will impact the final amount of interest you accrue.
This tells you how much your account will gain over time. Search around for the best interest rates to get the most return on your savings.
This is the number of years that your investment has to grow. The longer the timeframe, the larger the growth of the investment will be.
IMPORTANT NOTICE: It is important to note that information provided is only intended to offer illustrative examples based on stated assumptions and your own inputs. These numbers are estimates only and are not to be used as a quote. We advise that you consult your mortgage broker about specific circumstances.