Genuine Savings Calculator

Genuine savings calculator

Our genuine savings calculator is designed to help you work out whether your savings are considered to be ‘genuine savings’, and whether a lender is likely to accept you or not based on your deposit size and savings habits.

Although every lender has its own genuine savings requirements, you can get a rough idea of whether your savings qualifies by entering the following information:

The price of the property
The loan amount
How much savings you’ve held for more than three months
Other savings you’ve held for less than three months (e.g. recent gifts/inheritance, sales of assets, tax refunds, bonuses, grants)
If you own a property, the property’s value and loan balance

Remember though, each lender will do a thorough dive into your finances during your application, so this calculator is no guarantee of approval or rejection.

What are genuine savings?

’Genuine savings’ is what lenders use to describe savings you’ve built up yourself over a period of around three to six months and haven’t been earned through one-offs like work bonuses, selling a household item, inheritance or gifts from family.

‘Genuine’ savings are things like:

Savings held for three months or more
Term deposits with terms lasting more than three months
Funds salary sacrificed under the First Home Super Saver Scheme
Shares or managed funds you’ve held for at least three months
Equity in your current property

The bigger the deposit, the less genuine savings you’ll generally need, but you should still try to have some. Lenders look to genuine savings to see how responsible you are with money. Someone who has genuinely saved over the months and years is more likely to get approval compared to someone who can’t save but received a small fortune through winning at the pokies, for example.

Looking for a home loan?

Buying a home or looking to refinance? The table below features home loans
with some of the lowest interest rates on the market for owner occupiers.

Loan amount

Compare

Lender	Advertised rate	Comparison rate*	Monthly repayment	Rate Type	Ongoing Fee	Upfront Fees	Max LVR	as ofNovember 25, 2024

	6.04^%_p.a.	6.06^%_p.a.	^$2,408	Variable	^$0	^$530	90^%	More details
FEATURED4.6 Star Customer Ratings	loans.com.au – Variable Home Loan (LVR < 90%) Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Quick and easy online application process.
Disclosure
FEATURED4.6 Star Customer Ratings loans.com.au – Variable Home Loan (LVR < 90%) Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Quick and easy online application process. More details Disclosure
	5.99^%_p.a.	5.90^%_p.a.	^$2,396	Variable	^$0	^$0	80^%	More details
FEATUREDApply in minutes	Unloan – Variable Rate Home Loan LVR < 80% No application or ongoing fees. Annual rate discount Unlimited redraws & additional repayments. LVR <80% A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Disclosure
FEATUREDApply in minutes Unloan – Variable Rate Home Loan LVR < 80% No application or ongoing fees. Annual rate discount Unlimited redraws & additional repayments. LVR <80% A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank. More details Disclosure
	6.09^%_p.a.	6.11^%_p.a.	^$2,421	Variable	^$0	^$250	60^%	More details
FEATURED	ubank, part of NAB – Neat home loan - max. 60% LVR (Owner occupied, Principal and interest) No annual fees – None! Get fast pre-approval Unlimited additional repayments free of charge
Disclosure
FEATURED ubank, part of NAB – Neat home loan - max. 60% LVR (Owner occupied, Principal and interest) No annual fees – None! Get fast pre-approval Unlimited additional repayments free of charge More details Disclosure
	5.69^%_p.a.	6.16^%_p.a.	^$2,319	Fixed	^$0	^$530	90^%	More details
FEATURED	loans.com.au – Fixed Rate OO P&I (3 years) Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Flexibility to split your loan with both fixed and variable rates
Disclosure
FEATURED loans.com.au – Fixed Rate OO P&I (3 years) Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Flexibility to split your loan with both fixed and variable rates More details Disclosure
	6.14^%_p.a.	6.16^%_p.a.	^$2,434	Variable	^$0	^$350	80^%	More details
	Macquarie Bank – Basic Home Loan (Owner Occupier, Principal and Interest, max 70% LVR) Get a tailored quote in as little as 3 minutes Complete your application in 15 minutes Get an answer fast from a banking specialist who will work with you through the application process
Disclosure
Macquarie Bank – Basic Home Loan (Owner Occupier, Principal and Interest, max 70% LVR) Get a tailored quote in as little as 3 minutes Complete your application in 15 minutes Get an answer fast from a banking specialist who will work with you through the application process More details Disclosure
	6.14^%_p.a.	6.16^%_p.a.	^$2,434	Variable	^$0	^$250	80^%	More details
	ubank, part of NAB – Neat home loan - max. 80% LVR (Owner occupied, Principal and interest) Make unlimited additional payments that you can redraw whenever you like Skip the never-ending paperwork with a simple digital application
Disclosure
ubank, part of NAB – Neat home loan - max. 80% LVR (Owner occupied, Principal and interest) Make unlimited additional payments that you can redraw whenever you like Skip the never-ending paperwork with a simple digital application More details Disclosure
	6.44^%_p.a.	6.66^%_p.a.	^$2,513	Variable	^$0	^$0	97^%	More details
	Westpac – Flexi First Option Home Loan (Promo) - Principal & Interest (LVR up to 70%)
Disclosure
Westpac – Flexi First Option Home Loan (Promo) - Principal & Interest (LVR up to 70%) More details Disclosure
	6.49^%_p.a.	6.50^%_p.a.	^$2,526	Variable	N/A	^$400	70^%	More details
	Commonwealth Bank – Extra Home Loan (Principal and Interest) (LVR 60%-70%)
Disclosure
Commonwealth Bank – Extra Home Loan (Principal and Interest) (LVR 60%-70%) More details Disclosure
	6.44^%_p.a.	6.44^%_p.a.	^$2,513	Variable	^$0	^$160	70^%	More details
	ANZ – Simplicity PLUS Home Loan (Principal and Interest) (LVR < 70%) (New Customer) Special offer
Disclosure
ANZ – Simplicity PLUS Home Loan (Principal and Interest) (LVR < 70%) (New Customer) Special offer More details Disclosure
	6.79^%_p.a.	6.87^%_p.a.	^$2,605	Variable	^$8	^$350	60^%	More details
	NAB – Tailored Home Loan Variable Rate - Principal and Interest LVR 60% or less
Disclosure
NAB – Tailored Home Loan Variable Rate - Principal and Interest LVR 60% or less More details Disclosure
	6.14^%_p.a.	6.39^%_p.a.	^$2,434	Variable	^$248	^$350	60^%	More details
	Macquarie Bank – Offset Home Loan (Owner Occupier, Principal and Interest, max LVR 60%) Reduce the amount of interest you pay with up to 10 offset accounts per loan account. Get a tailored quote in as little as 3 minutes Complete your application in 15 minutes
Disclosure
Macquarie Bank – Offset Home Loan (Owner Occupier, Principal and Interest, max LVR 60%) Reduce the amount of interest you pay with up to 10 offset accounts per loan account. Get a tailored quote in as little as 3 minutes Complete your application in 15 minutes More details Disclosure
	5.99^%_p.a.	6.51^%_p.a.	^$2,396	Variable	^$0	^$530	90^%	More details
	loans.com.au – Solar Home Loan (Principal & Interest) (LVR < 90%) No application, ongoing monthly or annual fees. Available for refinance or purchases. Quick and easy online application process. Dedicated loan specialist throughout the loan application. Discounted interest rate for 5 years for homes with an eligible solar system
Disclosure
loans.com.au – Solar Home Loan (Principal & Interest) (LVR < 90%) No application, ongoing monthly or annual fees. Available for refinance or purchases. Quick and easy online application process. Dedicated loan specialist throughout the loan application. Discounted interest rate for 5 years for homes with an eligible solar system More details Disclosure
	6.14^%_p.a.	6.16^%_p.a.	^$2,434	Variable	^$0	^$350	60^%	More details
	Macquarie Bank – Basic Home Loan (Owner Occupier, Principal and Interest, max 60% LVR) Estimate your borrowing power in as little as 1 minute Complete your application in as little as 15 minutes
Disclosure
Macquarie Bank – Basic Home Loan (Owner Occupier, Principal and Interest, max 60% LVR) Estimate your borrowing power in as little as 1 minute Complete your application in as little as 15 minutes More details Disclosure
	6.18^%_p.a.	6.21^%_p.a.	^$2,445	Variable	^$0	^$845	60^%	More details
	AMP – Essential Home Loan (Owner Occupied, Principal and Interest, $750,000+, <= LVR 60%)
AMP – Essential Home Loan (Owner Occupied, Principal and Interest, $750,000+, <= LVR 60%) More details
	6.19^%_p.a.	6.25^%_p.a.	^$2,447	Variable	^$0	^$835	70^%	More details
	Great Southern Bank – Offset Variable - Owner Occupier Principal & Interest (LVR is 70%)
Great Southern Bank – Offset Variable - Owner Occupier Principal & Interest (LVR is 70%) More details
	6.19^%_p.a.	6.24^%_p.a.	^$2,447	Variable	^$0	^$600	80^%	More details
	MOVE Bank – Offset Home Loan (Principal & Interest) LVR <80%
MOVE Bank – Offset Home Loan (Principal & Interest) LVR <80% More details
	6.23^%_p.a.	6.38^%_p.a.	^$2,458	Variable	^$10	^$450	80^%	More details
	Bank of Queensland – Owner Occupied Economy Discount Rate (max 80% LVR)
Bank of Queensland – Owner Occupied Economy Discount Rate (max 80% LVR) More details
	6.24^%_p.a.	6.24^%_p.a.	^$2,460	Variable	^$0	^$0	50^%	More details
	Athena Home Loans – Straight Up Owner Occupied - Obliterate (LVR < 50%) (Principal and Interest)
Athena Home Loans – Straight Up Owner Occupied - Obliterate (LVR < 50%) (Principal and Interest) More details
	6.24^%_p.a.	6.58^%_p.a.	^$2,460	Variable	^$350	^$210	80^%	More details
	Heritage Bank – Home Advantage Variable $250,000 to $699,999 >70% to 80%
Heritage Bank – Home Advantage Variable $250,000 to $699,999 >70% to 80% More details
	6.29^%_p.a.	6.30^%_p.a.	^$2,473	Variable	^$0	^$100	95^%	More details
	BankSA – Basic Home Loan for Owner Occupier P&I (Promo) (LVR below 70%)
BankSA – Basic Home Loan for Owner Occupier P&I (Promo) (LVR below 70%) More details
	6.30^%_p.a.	6.63^%_p.a.	^$2,476	Variable	N/A	N/A	98^%	More details
	Sucasa – Ultra Low Rate (Variable) - <98% LVR - No LMI (Refinance)
Sucasa – Ultra Low Rate (Variable) - <98% LVR - No LMI (Refinance) More details
	6.39^%_p.a.	6.50^%_p.a.	^$2,499	Variable	^$0	^$799	90^%	More details
	IMB Bank – Essentials Home Loan (Principal and Interest) (LVR 80%-90%)
IMB Bank – Essentials Home Loan (Principal and Interest) (LVR 80%-90%) More details
	6.44^%_p.a.	6.81^%_p.a.	^$2,513	Variable	^$395	^$0	80^%	More details
	Credit Union SA – Owner Occupied Variable Home Loan Package (Principal and Interest)
Credit Union SA – Owner Occupied Variable Home Loan Package (Principal and Interest) More details
	6.48^%_p.a.	6.51^%_p.a.	^$2,523	Variable	^$0	^$350	90^%	More details
	MyState Bank – Basic Variable Home Loan Offer OO P&I (LVR =80%-<90%)
MyState Bank – Basic Variable Home Loan Offer OO P&I (LVR =80%-<90%) More details
	6.49^%_p.a.	6.52^%_p.a.	^$2,526	Variable	^$0	N/A	90^%	More details
	Beyond Bank – Purple Basic Variable Home Loan (>80%-90% LVR)
Beyond Bank – Purple Basic Variable Home Loan (>80%-90% LVR) More details
	6.54^%_p.a.	6.93^%_p.a.	^$2,539	Variable	^$395	^$350	90^%	More details
	Bankwest – Complete Variable Home Loan (Owner Occupied) (New Lending) <90% LVR - P&I
Bankwest – Complete Variable Home Loan (Owner Occupied) (New Lending) <90% LVR - P&I More details
	6.64^%_p.a.	6.98^%_p.a.	^$2,565	Variable	^$350	^$210	90^%	More details
	Heritage Bank – Home Advantage Variable $250,000 to $699,999 LVR >80% to 90%
Heritage Bank – Home Advantage Variable $250,000 to $699,999 LVR >80% to 90% More details
	5.34^%_p.a.	6.27^%_p.a.	^$2,231	Fixed	^$350	^$0	90^%	More details
	Bank Australia – Clean Energy Home Loan Package Eco Plus Fixed Loan LVR<90% (3 years)
Bank Australia – Clean Energy Home Loan Package Eco Plus Fixed Loan LVR<90% (3 years) More details
	6.69^%_p.a.	6.72^%_p.a.	^$2,578	Variable	^$0	^$350	95^%	More details
	ING – Mortgage Simplifier ($150k+ where LVR >90% - O/Occ) P&I
ING – Mortgage Simplifier ($150k+ where LVR >90% - O/Occ) P&I More details
	6.79^%_p.a.	6.87^%_p.a.	^$2,605	Variable	^$8	^$350	70^%	More details
	NAB – Tailored Home Loan Variable Rate - Principal and Interest LVR 60.01% - 70%
Disclosure
NAB – Tailored Home Loan Variable Rate - Principal and Interest LVR 60.01% - 70% More details Disclosure
	6.84^%_p.a.	7.16^%_p.a.	^$2,618	Variable	^$0	^$0	97^%	More details
	Westpac – Flexi First Option Home Loan (Promo) - Principal & Interest (LVR above 80%)
Disclosure
Westpac – Flexi First Option Home Loan (Promo) - Principal & Interest (LVR above 80%) More details Disclosure
	7.24^%_p.a.	7.24^%_p.a.	^$2,726	Variable	^$0	^$160	95^%	More details
	ANZ – Standard Variable Home Loan (Principal and Interest) (LVR < 80%)
Disclosure
ANZ – Standard Variable Home Loan (Principal and Interest) (LVR < 80%) More details Disclosure
	8.80^%_p.a.	8.94^%_p.a.	^$3,161	Variable	^$8	^$600	95^%	More details
	Commonwealth Bank – Standard Variable Home Loan (Principal and Interest)
Disclosure
Commonwealth Bank – Standard Variable Home Loan (Principal and Interest) More details Disclosure

Variable Home Loan (LVR < 90%)

Product Features

Available for purchase or refinance, min 10% deposit needed to qualify.
No application, ongoing monthly or annual fees.
Quick and easy online application process.

Monthly repayments:$2,408

6.04%Advertised Rate (p.a.)

6.06%Comparison Rate*

More details

Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of November 25, 2024. View disclaimer.

Important Information and Comparison Rate Warning

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the InfoChoice Group. In the interests of full disclosure, the InfoChoice Group are associated with the Firstmac Group. Read about how InfoChoice Group manages potential conflicts of interest, along how we get paid.

Savings.com.au Pty Ltd ACN 161 358 363 operates as an Australian Financial Services Licensee and an Australian Credit Licensee Number 515843. Savings.com.au is a general information provider and in giving you general product information, Savings.com.au is not making any suggestion or recommendation about any particular product and all market products may not be considered. If you decide to apply for a credit product listed on Savings.com.au, you will deal directly with a credit provider, and not with Savings.com.au. Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au's Financial Services and Credit Guide (FSCG). The information provided constitutes information which is general in nature and has not taken into account any of your personal objectives, financial situation, or needs. Savings.com.au may receive a fee for products displayed.

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Important information

Savings.com.au provides general information and comparison services to help you make informed financial decisions. We do not cover every product or provider in the market. Our service is free to you because we receive compensation from product providers for sponsored placements, advertisements, and referrals. Importantly, these commercial relationships do not influence our editorial integrity.

For more detailed information, please refer to our How We Get Paid, Managing Conflicts of Interest, and Editorial Guidelines pages.

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At Savings.com.au, we are passionate about helping Australians make informed financial decisions. Our dedicated editorial team works tirelessly to provide you with accurate, relevant, and unbiased information. We pride ourselves on maintaining a strict separation between our editorial and commercial teams, ensuring that the content you read is based purely on merit and not influenced by commercial interests.

Learn more about our commitment to editorial integrity in our Editorial Guidelines.

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For more details, see How We Get Paid.

Product Coverage and Sort Order

We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.

Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes.

Additionally, certain products may present forms designed to refer you to associated companies (e.g. our mortgage broker partner) who may be able to assist you with products from the brand you selected. We may receive a fee for this referral.

You can customise your search using our sorting and filtering tools to prioritise what matters most to you, although we do not compare all features and some results associated with commercial arrangements may still appear.

For more details, visit How We Get Paid and Managing Conflicts of Interest.

Comparison Rate Warning and Base Criteria

For home loans, the base criteria include a $400,000 loan amount over 30 years. For car loans, the base criteria include a $30,000 loan over 5 years. For personal loans, the base criteria include a $20,000 loan over 5 years. These rates are only examples and may not include all fees and charges.

*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Monthly Repayment Figures

Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.

Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you.

Related Brands

Savings.com.au is proudly part of the InfoChoice Group, which includes InfoChoice.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and PerformanceDrive.com.au. The InfoChoice Group is associated with the Firstmac Group.

We may include products and services from loans.com.au, CarLoans.com.au, OnlineAuto.com.au, and YourMortgageBroker Pty Ltd, all associated with the Firstmac Group. Importantly, these brands are treated like any other commercial partner.

Learn more about how we manage conflicts of interest.

General Advice Disclosure

The information provided by Savings.com.au is general in nature and does not take into account your personal objectives, financial situation, or needs. We recommend seeking independent financial advice before making any financial decisions. Before acquiring any financial product, obtain and read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD), and any other offer documents.

Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au’s Financial Services and Credit Guide (FSCG).

Genuine Savings Requirement Calculator