Calculate your savings
Important information
How long will it take:
Calculates the amount you could save and interest you could earn based on the savings goal, interest rate and amount you can save each month input.
The amount I’ll need to save:
Calculates the amount you need to save each month to reach the savings goal within the target timeframe input, taking into account the interest you could earn.
The displayed interest rate is for illustration purposes only. The results from this calculator should be used as an indication only.
Deposit and Interest Frequency
Compound interest is calculated on the starting balance and factors in regular monthly deposits. It assumes no withdrawals, additional deposits or changes in interest rates occur during the saving period.
Each calculation starts on the first day of the current month and assumes all deposits are made on the first day of the month. Interest is calculated daily and compounded monthly.
Fees & charges
This calculator does not take into account the impact of fees and charges or tax on interest earned that may impact the amount you could save.
Number of Weeks & Fortnights in a Year
The outputs are based on a 364 day year; one year is assumed to contain exactly 52 weeks or 26 fortnights. All months and fortnights are assumed to be equal. Given some months are longer than others interest charged will vary depending upon the month.
Rounding
The amounts shown are rounded to the nearest dollar.
Want to earn interest on your savings?
Frequently asked questions
We offer different types of accounts to suit different financial needs – be it everyday money management to high-interest savings for better returns.
To find an account that works best for you, click on the links below.
Great Southern Bank is the trading name of Credit Union Australia Limited. You may have previously known us as CUA.
For over 75 years, we’ve been helping Australians with their banking and insurance needs. And today, we continue to provide clever products and tools to help customers reach their financial goals sooner.
As a customer-owned bank, we’re owned by you, our customers. So, instead of chasing huge profits for stakeholders, we reinvest profits back into the business for better products and services.
We love helping customers to achieve their financial goals and we can’t wait to help you with yours, whatever they may be. To get started, contact us today.
The savings calculator can help you:
- Calculate how much you could save over time.
- Estimate how much interest you can earn on your savings.
- Find out when you’ll reach your savings goal.
- Compare savings accounts.
This information can be used to help you create a savings plan and reach your goals sooner.
Saving 20k for a rainy day or something special is a popular long-term savings goal. The time it takes will depend on how much you can save on a regular basis. Our savings calculator can do the sums for you and help you put together a solid savings plan.
If you want to reach your 20K goal faster, consider opening a high-interest savings account. These accounts pay interest on top of your regular savings contributions and in-turn help you save smarter. You can use the savings calculator to compare savings accounts and find the one that suits you best.
Definitely! Customers can withdraw funds from their account at any time without losing their interest. This is true for the:
Yes, we have four accounts that can be opened in joint names. These are our Goal Saver, Home Saver, Future Saver and Everyday Saver accounts.
Keep in mind that each customer can only have one of each of the following account types: Goal Saver, Home Saver and Future Saver.
Please note, if you’re keen to earn bonus interest on your Goal Saver or Home Saver Accounts, any Everyday Edge Account in your name can be used to earn bonus interest. This means the deposits and transactions on an Everyday Edge Account in just your name or joint names can count towards the bonus interest criteria.
Yes. Money placed in a savings account with a bank, building society or credit union is protected by the Australian Government’s Financial Claims Scheme (FCS).
The scheme protects deposits up to $250,000 per person, per financial institution. In the unlikely event that a financial institution closes you’ll have the peace-of-mind that your money is safe.
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Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. This is general information and does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information, including the Terms and Conditions (T&Cs) booklet, before acting on it. The Financial Claims Scheme may apply to this product; refer to the T&Cs for more information.
Deposits up to $250,000 per account holder are guaranteed by the Federal Government under the Financial Claims Scheme.
Interest is calculated daily on whole balances and paid monthly.
Rate current as at 01 July 2026 and subject to change.
* Interest is calculated daily and paid monthly. The base rate of interest is payable on the whole balance held in your Goal Saver Account. Bonus interest is applied on top of the base rate on balances up to $50,000 in a calendar month if, prior to the last day of that calendar month:
A) You receive funds of $500 or more by electronic transfer (excluding telegraphic transfer) from a non-Great Southern Bank bank account into your Everyday Edge Account; and
B) At least 5 settled (not pending) Visa Debit card purchase transactions (card present and card not present transactions but excluding ATM withdrawals, balance enquiries, Bank@Post transactions, cash advances and EFTPOS cash out only transactions) have been processed from your Everyday Edge Account.
** Interest is calculated daily and paid monthly. The base rate of interest is payable on the whole balance held in your Home Saver Account. Bonus interest is applied on top of the base rate on balances up to $100,000 in a calendar month if, prior to the last day of that calendar month:
A) You receive deposits totalling $2,000 or more by electronic transfer (excluding telegraphic transfer) from a non-Great Southern Bank account into your Everyday Edge Account/s; and
B) At least 5 Visa Debit card purchases have been processed from your Everyday Edge Account/s and are not in pending status (excludes ATM withdrawals, EFTPOS cash out, balance enquiries and Bank@Post transactions).
^ Youth eSaver Account converts to the Goal Saver once you turn 18 years old.
> Future Saver: Applicants must be over the age of 18. Available to new and existing customers. Only one account per customer. Interest is calculated daily on whole balances and paid monthly. Rate applies on a stepped basis - each rate applies to the portion of the total balance that falls within that balance bracket. Refer to the interest rate schedule for current interest rates. Bonus interest is applied on top of the base rate if the balance of the Future Saver account increases by $250 by the end of each calendar month (excluding interest payments, withholding tax and fees).
^^ Everyday Saver: Available to new and existing customers. A maximum of six accounts per customer. Interest is calculated daily on whole balances and paid monthly. Rate applies on a stepped basis - each rate applies to the portion of the total balance that falls within that balance bracket. Refer to the interest rate schedule for current interest rates.