How long until you have your deposit?
Your target, what you have now and what you can put away each month. You will see when you get there — and whether the target itself is the right one, which is the question most people skip.
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If it isn’t working, call0493 348 998and we’ll run the numbers with you — which is a better answer anyway, because we can use your actual situation.
Time to reach your target
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- Around
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- You will put in
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- Interest earned, before tax
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Is that the right target?
Saving toward 20% is the default, not the rule. Depending on your situation, a smaller deposit may get you in years sooner.
Your savings against the target
The line is your balance, month by month; the dashed line is the target. Interest does more of the work the longer it runs, which is why the curve bends upward — slowly.
A calculator can only tell you so much
These figures use general assumptions. What you can actually borrow depends on which lender you go to and how they assess your income — and that varies more than most people expect.