The Savings Target calculator will determine what periodic payments you will need to make to achieve your savings goal.
- Interest rate remains constant for the savings term.
- The total is calculated assuming the interest earned being invested back into the savings account.
- Inflation is not taken into account. Consider this when you are setting your savings target.
- Account and transaction fees are not taken into account and it makes no allowance for any income tax payable on the interest earned.
- It uses a constant interest rate for the full savings period and compounds on the same periodic basis as the frequency of savings payments you select
- It assumes each year is divided into 52 weeks exactly, 26 fortnights and 12 months of equal length.
- Payments are made at the start of each period that you have selected.
- You can email your results to yourself and if you request, a copy of your results and contact information is sent to the web site owner.
- You can print your results for future reference.
- You should consult a finance professional before you make decisions based on this calculator.