Deposit / Time-to-Save Calculator

Set your target deposit, current savings and monthly contribution. The calculator compounds your savings monthly to estimate the time to reach the deposit goal.

Time to target
5y 2m
Total months
62

Frequently asked questions

Should I aim for a 20% deposit?

A 20% deposit avoids LMI for most lenders. If LMI is unavoidable, scenarios under 20% deposit may still make sense when the property growth rate beats the LMI cost — but the buffer is small. The federal Home Guarantee Scheme also lets eligible first home buyers buy with as little as 5% deposit without LMI.

General information only. Mortgage Rate Calculator publishes editorial content and tools for general information. We do not provide credit assistance and we do not give personal financial advice. We may earn commission when you click through to some lender websites — see our affiliate disclosure. We do not receive payment from any of the brokers listed on this site. Compare rates carefully and consider seeking independent advice before deciding on a home loan.