Monthly Savings Required
A$NaN
Total Contributions
A$NaN
Interest Earned
A$NaN
Savings Goal Calculator — Savings Goal A$12,500
With savings goal of A$12,500, the monthly savings required is A$176.
High-interest savings accounts in AU currently offer 4–5.5% p.a.
Monthly Savings Required
AUD1,147
Total Contributions
AUD46,285
Interest Earned
AUD3,715
Assumes consistent monthly deposits and compounding interest on a high-yield savings account. Tax on interest is not included.
What is the Savings Goal Calculator?
This calculator uses the present value of an annuity formula to find the required monthly savings. It accounts for your existing savings and compounds interest monthly.
Formula
Monthly Required = (Target − FV of current savings) × r ÷ ((1+r)^n − 1) ÷ (1+r), where r = monthly rate.- FV
- = Target savings amount
- PV
- = Current savings
- r
- = Monthly interest rate
- n
- = Total months
How to use the Savings Goal Calculator
- 1
Step 1
Enter your savings target.
- 2
Step 2
Enter current savings.
- 3
Step 3
Set the time frame in years.
- 4
Step 4
Enter the savings interest rate.
- 5
Step 5
View required monthly deposits.
Reviewed by
CalcHub Editorial Team
· Financial Content TeamMaintained by our finance content team. Calculators verified against RBI circulars, Income Tax Act, and published formulas. Expert reviewer applications open.
Our editorial team audits every calculator formula against primary sources (RBI, CBDT, SEBI, ICMR) quarterly. We are onboarding independent Chartered Accountants and Certified Financial Planners to review individual calculators — apply at /experts/apply.
Reviewed on
Frequently asked questions
What is the best savings rate in Australia in 2025?
High-interest online savings accounts offer 4.5–5.5% p.a. in 2025, typically with conditions like minimum monthly deposits or linked transaction accounts. Check Canstar or RateCity for current rates.
Sources
Weekly Indian rate update
RBI repo, top FD rates, tax deadlines. Free. No spam.
Calculated with CalcCrack