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Savings Goals Calculator

Set a savings goal and see how long it takes to get there at your current contribution — and how much of the total comes from interest.

Savings goal

Starting amount

Monthly contribution

Interest rate (% p.a.)

Time to reach your goal

2y 10m

$19,000

Total you contribute

$1,367

Interest earned

Estimates only. Assumes monthly compounding at a constant rate and excludes tax on interest.

How long it takes to reach a savings goal depends on your starting amount, your regular contribution and the interest rate. Larger or more frequent contributions reach the goal sooner, and compounding interest adds to the total along the way. This calculator estimates the time, your total contributions and the interest earned.

⚠️Bad credit pushing your rate up?

A default or error on your credit file can cost you a much higher interest rate than the one above. We're an ASIC-licensed, solicitor-led team — get a free, no-obligation assessment. No Win No Fee.

Free Credit Assessment →0489 265 737

Saving a Deposit With Bad Credit on File

Saving a home deposit is one of the most common goals — but a clean credit file matters just as much as the deposit itself when you apply. If a default or error is sitting on your file, it's worth addressing in parallel so your savings aren't undone by a higher rate or a decline.

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Brokers and partner sites can embed this calculator for free and keep your own branding around it. Just copy the code below. It includes a small credit link back to Australian Credit Solutions — that's the only condition of use.

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<p style="font:14px/1.5 Arial,sans-serif;color:#475569">Free <a href="https://www.australiancreditsolutions.com.au/calculators/savings-goals-calculator">Savings Goals Calculator</a> by <a href="https://www.australiancreditsolutions.com.au">Australian Credit Solutions</a></p>

FAQs

Savings Goals Calculator Questions

How long will it take to reach my savings goal?

It depends on your starting amount, how much you add each month and the interest rate. Enter your numbers above to estimate the time, the total you contribute, and the interest earned along the way.

How can I reach my goal faster?

Increase your regular contribution, start with a larger lump sum, or earn a higher rate. Even small increases to your monthly contribution can bring the goal forward noticeably thanks to compounding.

Does saving a deposit fix bad credit?

No — savings and your credit file are separate. A strong deposit helps, but a default or incorrect listing can still raise your rate or lead to a decline, so it's worth checking your file before applying.

Important — this is an estimate, not advice. This calculator is a model assuming monthly compounding at a constant rate and steady contributions; it excludes tax on interest and inflation. Results are not guaranteed and do not constitute financial, credit or tax advice. Consider your own objectives, financial situation and needs, and seek advice from a licensed professional before making a decision. Australian Credit Solutions Pty Ltd holds Australian Credit Licence ACL 532003 and provides credit file correction services. Last updated: 14 June 2026.