Updated 13 November 2023
When you transfer money into a savings account, the interest you earn builds up over time. Our savings calculator helps you see and understand how your money can grow, and how much you can save up over time.
Your savings calculator is sponsored by our friends at Stake, a leading online share trading platform.
- First, run the numbers without a monthly deposit. Then, re-calculate again with $20, $50 or $100 monthly contribution. You will see that regularly adding even the smallest amount can speed up your savings plan.
- If you're unsure of the interest rate to use, 2% to 2.5% can be found right now from most banks and credit union investment accounts.