Savings Calculator

Use our handy calculator to show how compound interest works on a savings account.

Accounts to help you get saving

Incentive Saver

An account that rewards you for staying focused on saving

Earn up to 4.75% p.a. with a variable base rate of 0.40% p.a., a variable bonus* rate of 4.25% p.a., and an extra 0.10% p.a. to your variable bonus rate for the first 3 months when you open online. New customers only on balances remaining below $250,000. After 3 months the total variable rate will apply.
*Grow your account balance by at least $50 a month (for customers 21 or over) or $0.01 a month (for customers under 21), excluding interest paid, ensuring your account balance remains between $0 - $249,999.99.
Online bonus offer available for a limited time only. Excludes joint accounts. Offer may be varied or withdrawn at any time.

Maxi Saver

A flexible account that will earn you interest on your savings

The total introductory rate of 4.65% p.a. for the first 3 months is a combination of an introductory fixed interest rate of 3.30% p.a. and an online bonus rate of 0.35% p.a. on top of the standard variable rate, currently 1.00% p.a.
Online bonus offer available from 30/05/2025 for a limited time only. Only available for new Maxi Saver accounts opened online by applicants who have never held a Maxi Saver account before.
Offer may be varied or withdrawn at any time.
To hold a Maxi Saver account, you must also hold an eligible St.George transaction account in the same name and be registered for Internet and Phone Banking. If you don't already have one, set up a Complete Freedom everyday account when you open a Maxi Saver account. Fees and charges may apply on the transaction account.

FAQs

What's a savings calculator and how does it work?

It's a tool that estimates your future savings based on current habits, considering factors like deposit amount, saving frequency, and interest rates.

Can I adjust the calculator to reflect my personal objectives and savings goals?

No, the calculator can't be adjusted to reflect your objectives and savings goals, but you can use it as a tool to estimate interest earned in various hypothetical scenarios for a savings account by adjusting the assumptions, like the size of regular deposits, the length of time and interest rate. It can't reflect your personal objectives or savings goals because it cannot factor all of your relevant circumstances, like the effect of income tax on interest earned in a savings account, whether you need to make withdrawals that could impact bonus interest, or if another financial product is more suitable to our objectives, situation and needs.

What interest rate does the calculator use and is it accurate for all types of savings account?

How often is the interest compounded in this calculator?

Does the savings calculator take into account inflation or tax implications?

Can I use this calculator for both short-term and long-term savings goals?

What should I do if I'm not sure about my savings goals or how to start saving?

How secure is the information I input into the savings calculator?

Is there a way to save or export the results from the calculator?

Who can I contact for more information or help with the savings calculator?

Does the calculator take into consideration any bonus interest?

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Important information

Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.

Term Deposits Terms and Conditions and General Information (PDF 1MB)

Internet Banking and Phone Banking Terms and Conditions (PDF 1MB)

Savings Calculator
This calculator should be used as a guide only and shouldn't be relied on for making a decision to open to a savings account or to determine regular savings contributions as you should consider whether the product features suit your situation, objectives and needs. Interest rates may change, impacting the value of interest earned. The interest calculations are estimates only on the information provided and not intended as a recommendation to make specific savings contributions or to be relied on as an exact amount of what you may earn. This calculator doesn't take into account the impact of fees and charges, tax on interest earned, changes to interest rates, bonus interest eligibility and any withdrawals over the savings period. Calculations don't This tool can't take into account all of your relevant personal circumstances and you should consider whether a savings account is appropriate for you. If you need assistance, contact one of our bankers or obtain advice from financial adviser.

How this calculator works
Interest is calculated using the compound interest formula on the starting balance and factors in any regular monthly deposit. The calculator assumes no withdrawals are made by you and there are no changes in interest rates even though the bank may vary interest rates from time to time. The calculation method varies slightly from <brand> products and therefore results can only be used as an estimate

Calculator assumptions and method
The displayed interest rate is for illustration purposes only and you may manually input your own interest rate into the calculator. Each calculation starts on the first calendar day of the current month and assumes all deposits are made on the first day of the calendar month. Interest is calculated daily and compounded monthly at the end of the calendar month on the “How much I could save” and “How long it may take me to save” calculators. Interest is calculated and compounded monthly at the end of the calendar month on the “How much I may need to save” calculator. Total amounts (including interest earned) are rounded to the nearest cent.