Savings goal calculator
Find how much to save each month to reach your target.
Example plan · try your own numbers
Your projected balance
Enter your numbers to see the possibilities.
Growth chart & what-if
Save, export & assumptions
Estimates only. Assumes unchanged rates, no withdrawals, tax or fees. Monthly approximation; your bank’s daily calculation and product rules may differ. Calculation details →
See the numbers behind the picture
QUICK ANSWERS
Questions about your savings?
Choose a question. Get a plain-English answer and a useful next step.
5 questions to explore.
Answers are written in advance. Your search stays in your browser.
SavingsWhat is compound interest?
When interest is added to your savings, that interest can earn interest too. The result depends on your balance, rate, time and deposits; a projection assumes the inputs hold.
Try the compound interest calculatorSavingsWill I always earn the advertised savings rate?
A bonus rate may depend on deposits, balance changes or other account conditions. A welcome rate lasts only for its stated period, so check the ongoing rate, fees and current provider terms as well.
Compare rate conditions in a worked exampleSavingsAre the bank rates on Howloop live?
The bank explorer uses dated snapshots of public product data. Check each product’s retrieval date and confirm the current offer with the provider; the listing does not assess whether you qualify.
Explore the dated savings productsSavingsHow much do I need to save each month?
Enter your target, starting savings and timeframe in the savings-goal calculator. It estimates the end-of-month contribution using a constant rate; try a lower rate too, and include costs that your target needs to cover.
For exampleAt zero interest, a hypothetical $6,000 gap over 12 months needs $500 each month.
Calculate a monthly savings goalSavingsHow do I set an emergency-fund target?
Add up essential monthly expenses and choose how many months you want covered. Use your own bills and income circumstances; the calculator’s example is a starting point for comparison, not a personal recommendation.
Build an emergency-fund estimateNo questions match this search. Try a shorter word, or choose Show all to see every question.
More examples & how the maths works
Your numbers, in real life
Build a plan that still works at a lower rate.
You have $10,000 and want $30,000 in 3 years. Change only the rate to see how much the monthly saving changes.
End-of-month contributions · 36 months
- At 0% interest
- $555.56
- At 4% interest
- $490.48
- Monthly difference
- $65.08
Needed each month.
Needed each month.
Extra saving needed if no interest is earned.
Use the lower-rate result as a stress test. Interest helps, but regular saving does most of the work.
Constant rate, monthly compounding, no tax or fees. A home deposit target also needs an allowance for buying costs.
Build a realistic home deposit planTurn a someday goal into a monthly plan.
Start with a target and a timeframe. The calculator finds the end-of-month contribution needed to bridge the gap between what you have and what you want, allowing for a constant interest rate.
How the calculation works
We project your starting balance over the selected term, then calculate the monthly contribution needed to make up the rest. At zero interest, the remaining gap is simply divided by the number of months. If your existing balance is enough, the required contribution is zero.
Common questions
A few good questions.
Can I use this for a home deposit?
Yes. Set your target to the deposit plus a separate allowance for purchase costs. This tool does not estimate transfer duty, eligibility for grants, mortgage insurance or the amount a lender will approve.
What if my rate changes?
Try a lower rate as well as your expected rate. The model holds the entered rate constant, so it is useful for comparing scenarios, not predicting future bank offers.
Why does the result say I need no extra deposits?
Your starting savings, with the interest rate and time you entered, already reach the target in the model. Check that the assumptions are realistic and that your savings are available for this goal.