NZ Savings Calculator

Money Compare NZ Savings Calculator

Saving money is a cornerstone of financial stability and security, providing individuals with a safety net in times of uncertainty and a pathway toward achieving long-term financial goals - whether that is saving a house deposit or looking to stay out of debt. Setting aside funds for emergencies, planning for retirement, or working toward major purchases such as buying a first home or education, saving plays a crucial role in shaping our financial future. By cultivating a habit of saving, individuals can build resilience against unexpected expenses, seize opportunities for growth, and ultimately attain greater financial freedom.  Comparing saving accounts can help you get more interest and build a nest egg quicker.

Saving enables individuals to maintain control over their financial well-being and avoid falling into cycles of debt or reliance on external sources for financial support. By living within their means and prioritizing saving, individuals can reduce financial stress and gain a sense of empowerment over their financial decisions. This sense of autonomy allows for greater flexibility and adaptability in navigating life's inevitable challenges and changes.

In addition to providing a buffer against financial setbacks, saving also opens doors to new opportunities and experiences. Whether it's traveling the world, pursuing further education, or investing in personal development, having savings allows individuals to seize opportunities that enhance their quality of life and broaden their horizons. Ultimately, saving isn't just about accumulating wealth—it's about creating the freedom to live life on one's own terms and pursue aspirations with confidence and purpose.

Our savings calculator is a versatile tool that can help you plan how you save. Whether you are saving for a dream trip, wedding, car our calculator can help you plan how to save up enough money to reach your goal.  The calculator can help you work out how much you’ll save over a certain amount of time, or how much you will need to deposit to reach your goal.

The calculator works in both directions – either find out how much you will save OR how much you need to deposit if you have a certain amount as your goal. 

Compare NZ savings accounts here.


Savings Calculator


Savings Calculator How to use the savings calculator

Simply input the following variables to use the savings calculator:

Initial balance – meaning how much you can put in as an initial deposit

Monthly deposit – this is how much you will contribute to your savings every month

Interest rate – this is the interest rate the bank will pay for your savings

Term – this is how long you will be saving for, whether it is months or years. 


How to work out how much you need to save to reach a saving goal. 

Let’s say that you are working toward a goal of saving for your dream bike

  1. Find out the price of the bike. Lets say the bike costs $2,000 – enter this as the final balance 
  2. Think about your initial deposit – this is the amount of money you already have that you can contribute to your savings now. For example $1,200
  3. Enter the interest rate. Let’s use 5%
  4. The last step is to decide when you want to finish saving and enter that into the term. For our example, let say 2 years
  5. Once you have entered the data into the calculator, it will calculate that you only need to deposit $26.76 monthly to buy the bike within 2 years

Compare Savings Accounts

You’ve worked hard for your money – so you will probably want to make the most of it by looking for the best savings account with the best savings interest rates in NZ.

Money Compare can help you compare savings accounts to find the one that suits you best. There can be big variation between interest rates and account fees – choosing the right type of savings account can help make sure your money is working hard for you.

Whether you are looking for a new savings account to start saving, or looking for a better return for existing savings, we can help you compare the options and save. 

The key things to look at when comparing savings accounts is how high the interest rate is, how much the account fees are, whether there are minimum and maximum deposit amounts, and whether you can access your savings through branches or ATMs.

Realistic goals, consistency, and good savings habits are key habits - check out our top tips for kickstarting your savings.  
We can help you compare NZ savings accounts to find the best option for you. Compare TSB savings accounts, ASB savings accounts, ANZ savings accounts, Kiwibank savings accounts, Westpac savings accounts, and more. 

Compare NZ savings accounts