How much can you save?
Our savings and term deposit calculator can show you just how close you are to reaching your goal. We’ll calculate how much you can save and show how different savings accounts and interest rates can help you save more. Want to lock money away for a solid return? Check out our term deposit calculator and get a picture on what you stand to make over your set term.
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Savings and term deposit calculator FAQs
Things to note
Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.
Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
The results from the Savings and Term Deposit calculator should be used as an indication only and may not correlate to the exact calculations used by RACQ Bank deposit products. Results are based on information you have provided and do not take your personal circumstances into account. This calculator is not intended to be your sole source of information when making a financial decision. You may wish to consider obtaining advice form a suitably qualified financial professional.
The results from the Budget Planner calculator should be used as an indication only. Figures provided are for illustrative purposes only and are based on the information provided.
Calculator by Widget Works.
Interest rates on a per annum basis and are current as at 1 November 2024 and subject to change at any time.
Length of Month
The Deposit Planner Calculator calculates the total accumulation in a savings account, at the regular deposit frequency requested or the interest earned on a term deposit for the investment term entered.
Calculator Assumptions
Number of Weeks & Fortnights in a Year
One year is assumed to contain exactly 12 months, 4 quarter, 26 fortnights or 52 weeks.
Deposit and Interest Compounding Frequency
The calculator assumes that deposits are made at the frequency entered by the user. i.e. annually, monthly, fortnightly or weekly. Interest is compounded daily and credited monthly.
Rounding of Amounts of Total Accumulation and Interest Earned
The amounts of total accumulation and interest earned are rounded to the nearest cent.