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Savings calculator

Let us help you save more. Find out how much you could save and how to reach your goals faster.
CALCULATOR

Calculate your savings

I want to know
I want to hit my target in
With our
Your saving contributions
$XXXX
Total interest earned
$XXX#
It will take you
X years and X months
You need to save
$X every month
Open in five minutes
#Estimates of interest amounts are indicative only based on current interest rates and deposit values for the prescribed term and should not be relied upon. Actual interest amounts will vary.

Want to earn interest on your savings?

Need help choosing
Need help choosing
All accounts
Bonus interest
Flexibility
Youth
All accounts
18-24 YEARS OLD
Goal Saver
Enjoy a competitive interest rate.
Interest rate up to
5.35
%
p.a.
Bonus conditions
Earn bonus interest on your savings even if you make withdrawals!
18+ YEARS OLD
Home Saver
Great for saving a home deposit.
Interest rate up to
5.25
%
p.a.
Bonus conditions
Save for your home deposit faster by earning a competitive bonus interest rate.
ALL AGES
Everyday Saver
Competitive interest rate with no bonus interest conditions.
Interest rate up to
4.30
%
p.a.
Applies to portion of balance up to $750,000^^
A flexible savings account with no monthly bonus interest conditions.
UP TO 17 YEARS OLD
Youth eSaver
Generous interest rate without fees.
Total rate up to
5.50
%
p.a.
Available for balances up to $5,000
Comes with an Everyday Youth Account^.
18+ YEARS OLD
Future Saver
Earn bonus interest on bigger balances.
Interest rate up to
4.85
%
p.a.
Bonus conditions
Enjoy a competitive interest rate, even if you make withdrawals.
Bonus interest
18-24 YEARS OLD
Goal Saver
Enjoy a competitive interest rate.
Interest rate up to
5.35
%
p.a.
Bonus conditions
Earn bonus interest on your savings even if you make withdrawals!
18+ YEARS OLD
Home Saver
Great for saving a home deposit.
Interest rate up to
5.25
%
p.a.
Bonus conditions
Save for your home deposit faster by earning a competitive bonus interest rate.
18+ YEARS OLD
Future Saver
Earn bonus interest on bigger balances.
Interest rate up to
4.85
%
p.a.
Bonus conditions
Enjoy a competitive interest rate, even if you make withdrawals.
Flexibility
ALL AGES
Everyday Saver
Competitive interest rate with no bonus interest conditions.
Interest rate up to
4.30
%
p.a.
Applies to portion of balance up to $750,000^^
A flexible savings account with no monthly bonus interest conditions.
Youth
UP TO 17 YEARS OLD
Youth eSaver
Generous interest rate without fees.
Total rate up to
5.50
%
p.a.
Available for balances up to $5,000
Comes with an Everyday Youth Account^.
More smart ways to grow your savings.

Open a term deposit account.

FAQS

Frequently asked questions

What bank accounts are available at Great Southern Bank?

We’re all different, so we have a range of everyday accounts to help you manage your money in smart ways.

Follow the links below to view our other bank accounts and find the one that suits you best.

Who is Great Southern Bank?

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.

What can the savings calculator tell me?

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.

How long does it take to save $20K?

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.

If I withdraw funds from my savings account, will I keep my interest?

Definitely! Customers can withdraw funds from their account at any time without losing their interest. This is true for the:

Can I open a savings account in joint names?

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.

Is my money safe in a savings account?

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.

Learn more about the FCS.

Learn more about saving

How to achieve your financial goals in a cost-of-living crisis

Don’t be discouraged by the doom and gloom in the media. Our clever products and tools can help you get ahead even in uncertain times.

Read more
What’s the difference between a transaction account and a savings account?

Find out the key attributes of each, and which best suits your needs.

Read more
Term deposits vs high-interest savings accounts – what’s the difference?

Deciding between a term deposit or a high-interest savings account comes down to what’s important to you. Great Southern Bank Term Deposits and Savings Accounts have no monthly account fees, helping you to save smarter.

Read more
TOOLS

More calculators

Discover more ways to maximise your money.

Term deposit calculator

Learn how much you could earn on your investment.

Budget planner

Understand where you spend your money.

Get in touch
We're here to help.
Call 133 282

Mon - Fri: 8:00am - 8:00pm (AEDT)
Sat: 8:00am - 4:00pm (AEDT)

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Speak to one of our friendly staff at a branch near you.
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Chat to us or browse help topics and FAQs.
Important Information

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 08 September 2024 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.