Calculate∑ What your result means
This projects your savings balance forward month by month, adding your regular contribution and compounding interest, to estimate when you'll reach your target.
Australia Savings Goals & Compound Interest Calculator
Find out how long it will take to reach your savings goal with regular monthly contributions.
Your details
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years
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◇ Your values stay in this browser.
Verified for 2026-27Methodology 2026-27.1 · reviewed 2026-08-08 · review by 2027-06-01
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Compare scenarios
Change target time horizon to see how months to reach goal responds.
Understand your result
Clear context for the values above.
Months to reach goal
Months to reach goal is included so you can interpret this estimate and make a better-informed comparison.
Projected balance in 5 years
Projected balance in 5 years is included so you can interpret this estimate and make a better-informed comparison.
Monthly saving required by target date
Monthly saving required by target date is included so you can interpret this estimate and make a better-informed comparison.
Projected balance in today’s money
Projected balance in today’s money is included so you can interpret this estimate and make a better-informed comparison.
How to use this calculator
- 1Enter your current savings goal, current savings, monthly contribution, expected annual return, target time horizon, inflation for today’s-money goal.
- 2Review the headline months to reach goal and the supporting figures beside it.
- 3Change one input at a time to see which assumption has the biggest effect.
- 4Confirm current Australian rates and thresholds with an official source before acting.
Explore this calculator
What your result means →The headline months to reach goal is based on the inputs currently shown above.Key terms explained →Review the key terms and figures used to calculate this result.How to use this calculator →Enter your figures, review the live result, compare scenarios, then save or print your estimate.The calculation formula →The calculation follows the standard formula for this calculator. Results update whenever an input changes.Worked example →Using the current values produces 45 months.Assumptions and limitations →Review the assumptions used to produce this estimate before relying on it.Costs or factors not included →Review any costs, fees or rules not automatically included before making a decision.Frequently asked questions →How accurate is this estimate? What should I check before relying on it? Can I save or share the result?
▦ How this calculator works
Starting from your current savings, the calculator adds interest for the month, then adds your monthly contribution, repeating until the balance reaches your goal (capped at 50 years) — a direct simulation rather than a closed-form formula, which handles any combination of goal, rate and contribution.
◇ Assumptions and what's not included
It assumes a constant contribution and constant rate of return every month, and doesn't account for tax on interest earned outside a tax-advantaged account, which would slow real-world growth.
▤ What to do next
If the months-to-goal figure feels too long, test a higher monthly contribution to see the impact directly, since regular contributions usually matter more than the interest rate for shorter time horizons.
Australia-specific contextFigures use AUD and current published rates and thresholds.
Reviewed for clarityUpdated 3 August 2026.
ImportantFor planning and educational use — not tax, legal or financial advice.
Your privacy mattersInputs stay in your browser.
Frequently asked questions
Does this account for tax on interest earned?+
No, interest is compounded before tax — for a savings account outside super or an offset structure, your real after-tax growth will be lower.
What if my goal is never reached within 50 years?+
The calculator caps its projection at 50 years — if the goal still isn't reached, consider increasing your contribution or investment return assumption.
Is the interest rate compounded monthly?+
Yes, the projection compounds interest monthly, which is a common way savings and term deposit accounts calculate interest.
Can I use this for investment goals, not just cash savings?+
Yes, just use an expected investment return instead of a savings rate — keep in mind investment returns are variable, unlike a fixed savings rate.
Official references
Rules and thresholds used by this calculator are labelled for 2026–27 or formula-labelled period. Review the primary guidance before making a filing, borrowing, benefit or investment decision.
Last source review: 3 August 2026. Calculator results are estimates and may exclude circumstances described in the methodology.