Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Compare potential earnings with our free calculator
If you're unsure about which savings account to open, use our free calculator to compare potential earnings.
With so many types of savings accounts available on the market, it can be hard to know which one is right for you. Once you determine your savings style or have an idea of how much money you can put away on a weekly or monthly basis, use our calculator to compare different interest rates and see the difference it can make to your savings goals.
Calculate your savings
The Savings Calculator allows you to work out how much you’ll save over a given number of years. To use the calculator you need to input:
- The initial amount you’re going to deposit into your account (this can be $0)
- The sum you wish to deposit each week, fortnight or month
- The interest rate you’re going to earn
- The number of years you wish to invest your money
Once this is done, the calculator shows how much money in total you’ll save at the end of the term, plus a breakdown of how much of this is interest compared to how much money you invested.
Maximising your savings
One way to calculate your potential savings is to analyse real-life examples of high-interest savings accounts in the market. By comparing some of the best interest rates offered by Kiwi banks and calculating how much interest these accounts accrue over time, based on your deposit amount and the period you invest your money for, you can find the best savings account for your needs.
Why use a savings account calculator?
Calculators eliminate an element of human error from your calculations, meaning you’re more likely to achieve an accurate figure when working out how much you save over a given period. Add to this the fact that calculators, like the budget planner, can help you think of items you might not even realise you spend your money on each month, and you can also identify how to improve your spending.
Remember that a calculator is only as accurate as the information you input. If you don’t enter accurate figures that truly represent your spending patterns, you eliminate the human error aspect but still achieve a useless total. When using a calculator, ask yourself if what you’re inputting is an accurate representation of your spending or savings situation.
In some cases, for example, using the budget planner, you might have to estimate certain costs, such as health and car costs. No one knows how much car repairs or health issues might cost so you might want to do some research to achieve an estimate.
Other frequently asked questions
More guides on Finder
Artificial intelligence stocks
You might think that AI is just something you’ve seen in sci-fi movies, but it’s slowly working its way into our day to day lives. Find out how you can invest in it.
Uber Eats delivery driving – a guide
We breakdown the benefits of Uber Eats delivery driving, including how much you can earn and what you need to do it.
Lumin discount codes and coupons April 2021
Lumin has a great range of skincare for men. Revitalise your skin with these fantastic products and see results in 30 days.
A snapshot of women and money in 2021
From investing to property, Finder takes a closer look at women and their finances as part of International Women’s Day.
What is a novated lease?
If you want to reduce your taxable income but get something for it, such as your next car, you can consider salary sacrificing it with a novated lease. Find out exactly how it works and if its right for you.
Best credit cards for overseas travel
Compare credit cards that offer no foreign transaction fees, complimentary insurance, Airpoints and airport lounge passes so you can find the right card to take overseas.
How Kiwis can become $15,000 richer in 2021
Kiwis can boost their annual earnings by thousands of dollars by making use of their assets, time or skills, according to new research by Finder, a financial research and comparison site in New Zealand.
Boat loan calculator
Find out how much you could borrow for your next boat loan. Calculate your repayments on a secured or unsecured personal loan.
Where can you use a Prezzy Card in New Zealand?
Been given a Prezzy Card for a birthday, Christmas or as a thank you? Find out where you can use it in our guide.
How much can you really make as an Uber driver?
Is signing up as an UberX driver worth it? Use the calculator and read our guide to find out how much you might expect to make.
Ask an Expert