Compare potential earnings with our free calculators

If you're unsure about which savings account to open, use our free calculators to compare potential earnings.

With so many types of savings accounts available on the market, it can be hard to know which savings account is right for you. Once you've determined your savings style or have an idea of how much money you can put away on a weekly or monthly basis, use our calculators to compare different interest rates and see the difference it can make to your savings goals.

Calculate your savings

The Savings Calculator allows you to work out how much you’ll save over a given number of years. To use this calculator you’ll need to input:

  1. The initial amount you’re going to deposit into your account (this can be $0)
  2. The amount you’ll be depositing each week, fortnight or month
  3. The interest rate you’re going to be earning
  4. The number of years you’ll invest your money

Once this is done you’ll be told how much money in total you’ll have at the end of the savings term, and a breakdown of how much of this is interest compared to how much is money you’ve invested.

Compare savings accounts in Australia to maximise your savings

An easier way to calculate your potential savings would be to analyse real life examples of high interest savings accounts in the market. By comparing some of the best interest rates offered by Australian banks and calculating how much interest these accounts would accrue over time based on your deposit amount and the time period you invest your money for, you can find the best savings account for your needs. Use our comparison tool below to compare savings accounts across Australia and find the one that'll give you the most bang for your buck.

High interest savings account offer

UBank USaver

2.87 % p.a.

max rate

1.81 % p.a.

standard variable rate

High interest savings account offer

Earn up to 2.87% p.a. by linking your USaver account to a UBank Ultra transaction account and transferring at least $200 per month into either account. This offer is available on balances up to $200,000.

  • Maximum Rate: 2.87% p.a.
  • Standard Variable Rate: 1.81% p.a.
  • Monthly deposit required: $200.00
  • Monthly fees: $0.00
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Rates last updated May 22nd, 2019
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
UBank USaver
$0 / $0
Earn up to 2.87% p.a. by linking your USaver account to a UBank Ultra transaction account and transferring at least $200 per month into either account. This offer is available on balances up to $200,000.
AMP Saver Account
$0 / $0
Introductory rate of 3.00% p.a. for 4 months, reverting to a rate of 2.10% p.a. The bonus rate offer is for new AMP Saver customers only, and applies to the first $250,000 deposited.
Suncorp Growth Saver Account
$0 / $0
Ongoing, variable 2.60% p.a. when you make a total deposit of at least $200 and make no more than one withdrawal. Available on the entire balance.
HSBC Serious Saver
$0 / $0
Receive a maximum variable rate of 3.10% p.a. for 4 months, reverting to an ongoing rate of 1.20% p.a. for each month you don't make any withdrawals from the account. Available on balances below $1,000,000.
Bankwest Hero Saver
$0 / $0
Ongoing, variable 2.60% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
Citibank Online Saver
$0 / $0
Introductory rate of 2.90% p.a. for 4 months, reverting to a rate of 1.60% p.a. Available on balances below $500,000.

Compare up to 4 providers

Plan your budget

The Budget Planner lets you count and combine each of your weekly, fortnightly or monthly expenses and income to work out what your surplus amount is. Using this amount you can decide to invest in an asset, save, or, if you don’t have a surplus, work out areas where you’re spending too much.

Simply click on the relevant tab, select frequency and input the amount in the relevant field. You can then export your budget to a PDF or print for reference later.

Get the latest money saving tips.

How does compound interest affect my term deposit?

Term deposit accounts allow you to lock in a certain amount of money at a specified rate for an agreed period of time, between three months and five years. This calculator will tell you how much interest you’ll earn during this time. To use it you’ll need to know the interest rate you’re going to earn, how much you’re depositing, and the length of time you’ll be locking your money away.

Read more about how a slight difference in interest rates can make a big difference to your savings.

Saving account versus term deposit calculator

How do I use this calculator?

Why use a savings account calculator?

Calculators eliminate an element of human error from your calculations, meaning you’re more likely to get an accurate figure when working out how much you’ll save over a given period of time. Add to this the fact that calculators like the budget planner can help you think of things which you might not have even realised you spend your money on each month, and you can also identify how you can improve your spending.

Remember that a calculator is only as accurate as the information you put into it. If you don’t input figures which are accurate and truly represent your spending patterns, you will eliminate the human error aspect but still get a useless figure. When using a calculator ask yourself if what you’re putting into it is an accurate representation of your spending or savings situation.

In some cases, such as when using the budget planner, you might have to estimate certain costs, such as your health and car costs. No one knows how much car repairs or health issues might cost so you might want to do some research to get an estimate.

Other frequently asked questions

Can I see the working out for my calculations?

Yes, you can. On the top of each calculator there’s a button which says ‘working’. This will give you a breakdown of how the calculator has come up with the final figure. The only exception to this is the budget planner, which currently does not have a working tab.

What other calculators are available? has a range of calculators suited to home loans, credit cards and more. To access these visit our calculator page.

What is compound interest?

Compound interest is when interest is earned on your balance, and on the interest you’re earning. This is different from simple interest where you earn a set rate of interest on the principal (amount invested) only.

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6 Responses

  1. Default Gravatar
    ElizbethOctober 27, 2018

    What is my credit score ?

    • Default Gravatar
      JoelOctober 27, 2018

      Hi Elizbeth,

      Thanks for leaving a question on finder.

      You can click here for our step-by-step guide to getting your free credit score with finder.

      Please send me a message if you need anything else. :)


  2. Default Gravatar
    SeverApril 25, 2017

    My wife invested 0n 08.05.2002 the sum of $A600,000 in a term deposit for 90 days with the
    interest of 4.13%.She died shortly after, before the expiry of first maturity period.
    The money remained with the Bank until now. What is the value of the investment now?
    I need your answer to claim the money from the Australian Bank.
    Your answer will be appreciated.

    • Avatarfinder Customer Care
      HaroldApril 26, 2017Staff

      Hi Sever,

      Thank you for your inquiry.

      Our company is a financial comparison website and general information service designed to help consumers to make a better decision. Please note we do not represent any company we feature on our pages.

      With regards to this matter, it would be nice if you can coordinate this directly with the bank. As they have the specific access to your wife’s account. This way, they can further check the information for you and provide the current status of the account.

      I hope this information has helped.


  3. Default Gravatar
    JimPApril 20, 2017

    History of Banks term Deposit Interest Rate since 1992?

    • Avatarfinder Customer Care
      HaroldApril 21, 2017Staff

      Hi JimP,

      Thank you for your inquiry.

      You can compare your options for term deposit account through here.
      Please don’t for get to use this section before you compare.

      I hope this information has helped.


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