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	LVR	as ofJuly 27, 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%) No monthly or ongoing fees Unlimited free redraw No application fee
FEATURED4.6 Star Customer Ratings loans.com.au – Variable Home Loan (LVR < 90%) No monthly or ongoing fees Unlimited free redraw No application fee More details
	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.
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
	6.09^%_p.a.	6.11^%_p.a.	^$2,421	Variable	^$0	^$250	60^%	More details
FEATUREDUnlimited Redraws	ubank – Neat Variable Home Loan (Principal and Interest) (LVR < 60%) No annual fees - None! Get fast pre-approval Unlimited additional repayments free of charge Redraw freely - Access your additional payments when you need them Home loan specialists available today
FEATUREDUnlimited Redraws ubank – Neat Variable Home Loan (Principal and Interest) (LVR < 60%) No annual fees - None! Get fast pre-approval Unlimited additional repayments free of charge Redraw freely - Access your additional payments when you need them Home loan specialists available today More details
	5.94^%_p.a.	5.95^%_p.a.	^$2,383	Variable	^$0	^$0	90^%	More details
No hidden feesFree redraw facility	Tiimely Home – Live-in Variable Loan Home Loan (Principal and Interest) (LVR < 90%)
No hidden feesFree redraw facility Tiimely Home – Live-in Variable Loan Home Loan (Principal and Interest) (LVR < 90%) More details
	6.04^%_p.a.	6.07^%_p.a.	^$2,408	Variable	^$0	^$799	70^%	More details
	IMB Bank – Budget Home Loan (Principal and Interest) (LVR < 70%) Up to $4,000 when you refinance with an IMB home loan.
IMB Bank – Budget Home Loan (Principal and Interest) (LVR < 70%) Up to $4,000 when you refinance with an IMB home loan. More details
	6.14^%_p.a.	6.16^%_p.a.	^$2,434	Variable	^$0	^$350	60^%	More details
	Macquarie Bank – Basic Home Loan (Principal and Interest) (LVR < 60%) Estimate your borrowing power in as little as 1 minute Complete your application in as little as 15 minutes
Macquarie Bank – Basic Home Loan (Principal and Interest) (LVR < 60%) Estimate your borrowing power in as little as 1 minute Complete your application in as little as 15 minutes More details
	6.14^%_p.a.	6.39^%_p.a.	^$2,434	Variable	^$248	^$350	60^%	More details
	Macquarie Bank – Offset Package Home Loan (Principal and Interest) (LVR < 60%) Estimate your borrowing power in as little as 1 minute Complete your application in as little as 15 minutes
Macquarie Bank – Offset Package Home Loan (Principal and Interest) (LVR < 60%) Estimate your borrowing power in as little as 1 minute Complete your application in as little as 15 minutes More details
	6.14^%_p.a.	6.16^%_p.a.	^$2,434	Variable	^$0	^$250	80^%	More details
	ubank – Neat Variable Home Loan (Principal and Interest) (LVR ≤ 80%) Home loan specialists available today
ubank – Neat Variable Home Loan (Principal and Interest) (LVR ≤ 80%) Home loan specialists available today More details
	6.19^%_p.a.	6.21^%_p.a.	^$2,447	Variable	^$0	^$350	80^%	More details
	Macquarie Bank – Basic Home Loan (Principal and Interest) (LVR 70%-80%) Estimate your borrowing power in as little as 1 minute Complete your application in as little as 15 minutes
Macquarie Bank – Basic Home Loan (Principal and Interest) (LVR 70%-80%) Estimate your borrowing power in as little as 1 minute Complete your application in as little as 15 minutes More details
	6.69^%_p.a.	7.06^%_p.a.	^$2,578	Variable	^$395	^$200	80^%	More details
	Commonwealth Bank – Wealth Package Variable Home Loan (Principal and Interest) (LVR 70% - 80%)
Commonwealth Bank – Wealth Package Variable Home Loan (Principal and Interest) (LVR 70% - 80%) More details
	6.84^%_p.a.	6.88^%_p.a.	^$2,618	Variable	^$0	^$0	95^%	More details
	NAB – Base Variable Home Loan (Principal and Interest) (New Customer)
NAB – Base Variable Home Loan (Principal and Interest) (New Customer) More details
	6.84^%_p.a.	7.16^%_p.a.	^$2,618	Variable	^$0	^$0	95^%	More details
	Westpac – Flexi First Option Home Loan (New Customer) (LVR > 80%)
Westpac – Flexi First Option Home Loan (New Customer) (LVR > 80%) More details
	7.24^%_p.a.	7.24^%_p.a.	^$2,726	Variable	^$0	^$160	80^%	More details
	ANZ – Standard Variable Home Loan (Principal and Interest) (LVR < 80%)
ANZ – Standard Variable Home Loan (Principal and Interest) (LVR < 80%) More details
	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%)
loans.com.au – Solar Home Loan (Principal & Interest) (LVR < 90%) More details
	5.99^%_p.a.	6.01^%_p.a.	^$2,396	Variable	^$0	^$210	70^%	More details
	Heritage Bank – Discount Variable Home Loan ($150k+) (LVR < 70%)
Heritage Bank – Discount Variable Home Loan ($150k+) (LVR < 70%) More details
	5.99^%_p.a.	6.36^%_p.a.	^$2,396	Variable	^$395	^$0	70^%	More details
	People's Choice – Package Variable Home Loan (Principal and Interest) (New Customer) ($100k+) (LVR < 70%)
People's Choice – Package Variable Home Loan (Principal and Interest) (New Customer) ($100k+) (LVR < 70%) More details
	6.01^%_p.a.	6.14^%_p.a.	^$2,401	Variable	^$10	^$440	90^%	More details
	Bendigo Bank – Express Home Loan (Principal and Interest)
Bendigo Bank – Express Home Loan (Principal and Interest) More details
	6.09^%_p.a.	6.09^%_p.a.	^$2,421	Variable	^$0	^$150	70^%	More details
	HSBC – Home Value Home Loan (Principal and Interest) (LVR < 70%)
HSBC – Home Value Home Loan (Principal and Interest) (LVR < 70%) More details
	6.09^%_p.a.	6.14^%_p.a.	^$2,421	Variable	^$0	^$600	80^%	More details
	MOVE Bank – Everyday Home Loan (Principal & Interest) LVR < 80%
MOVE Bank – Everyday Home Loan (Principal & Interest) LVR < 80% More details
	6.13^%_p.a.	6.14^%_p.a.	^$2,432	Variable	^$0	^$600	60^%	More details
	Suncorp Bank – Personal Purpose Back to Basics Special (Principal and Interest) (LVR ≤ 60%) (New Customer)
Suncorp Bank – Personal Purpose Back to Basics Special (Principal and Interest) (LVR ≤ 60%) (New Customer) More details
	6.14^%_p.a.	6.17^%_p.a.	^$2,434	Variable	^$0	^$299	80^%	More details
	ING – Mortgage Simplifier Home Loan (Principal and Interest) ($150k-$500k, LVR < 80%)
ING – Mortgage Simplifier Home Loan (Principal and Interest) ($150k-$500k, LVR < 80%) More details
	6.14^%_p.a.	6.20^%_p.a.	^$2,047	Variable	^$0	^$835	70^%	More details
	Great Southern Bank – Basic Variable Owner Occupier Construction (LVR ≤ 70%)
Great Southern Bank – Basic Variable Owner Occupier Construction (LVR ≤ 70%) More details
	6.14^%_p.a.	6.16^%_p.a.	^$2,434	Variable	^$0	^$350	70^%	More details
	Macquarie Bank – Basic Home Loan (Principal and Interest) (LVR 60%-70%)
Macquarie Bank – Basic Home Loan (Principal and Interest) (LVR 60%-70%) More details
	6.15^%_p.a.	6.28^%_p.a.	^$2,437	Variable	^$10	^$300	60^%	More details
	Commonwealth Bank – Digi Home Loan (Principal & Interest) LVR < 60%
Commonwealth Bank – Digi Home Loan (Principal & Interest) LVR < 60% More details
	6.19^%_p.a.	6.56^%_p.a.	^$2,447	Variable	^$390	^$0	80^%	More details
	HSBC – Package Home Smart Home Loan (New Customer) (Principal and Interest) (LVR < 80%)
HSBC – Package Home Smart Home Loan (New Customer) (Principal and Interest) (LVR < 80%) More details
	6.04^%_p.a.	6.05^%_p.a.	^$2,408	Variable	^$0	^$180	80^%	More details
	Greater Bank – Great Rate Variable Home Loan (New Customers) (NSW, ACT & QLD only) (LVR < 80%)
Greater Bank – Great Rate Variable Home Loan (New Customers) (NSW, ACT & QLD only) (LVR < 80%) More details
	6.23^%_p.a.	6.38^%_p.a.	^$2,458	Variable	^$10	^$450	80^%	More details
	BOQ – Economy Home Loan (Principal and Interest) (LVR < 80%)
BOQ – Economy Home Loan (Principal and Interest) (LVR < 80%) More details
	6.14^%_p.a.	6.48^%_p.a.	^$2,434	Variable	^$395	^$0	80^%	More details
	Newcastle Permanent – Premium Plus Package Variable Rate Home Loan Special (Principal and Interest) (LVR < 80%)
Newcastle Permanent – Premium Plus Package Variable Rate Home Loan Special (Principal and Interest) (LVR < 80%) More details
	6.24^%_p.a.	6.24^%_p.a.	^$2,460	Variable	^$0	^$0	50^%	More details
	Athena – Straight Up Owner Occupied - Obliterate (LVR < 50%) (Principal and Interest)
Athena – Straight Up Owner Occupied - Obliterate (LVR < 50%) (Principal and Interest) More details
	6.24^%_p.a.	6.29^%_p.a.	^$2,460	Variable	^$0	^$600	90^%	More details
	MOVE Bank – Everyday Home Loan (Principal & Interest) LVR 80%-90%
MOVE Bank – Everyday Home Loan (Principal & Interest) LVR 80%-90% More details
	6.24^%_p.a.	6.35^%_p.a.	^$2,460	Variable	^$10	^$799	80^%	More details
	IMB Bank – Essentials Home Loan (Principal and Interest) (LVR ≤ 80%)
IMB Bank – Essentials Home Loan (Principal and Interest) (LVR ≤ 80%) More details
	6.29^%_p.a.	6.34^%_p.a.	^$2,473	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
	6.29^%_p.a.	6.64^%_p.a.	^$2,473	Variable	^$395	^$0	80^%	More details
	Beyond Bank – Total Home Loan Package Variable (LVR 60%-80%) (New Customer)
Beyond Bank – Total Home Loan Package Variable (LVR 60%-80%) (New Customer) More details
	6.29^%_p.a.	6.35^%_p.a.	^$2,473	Variable	^$0	^$835	80^%	More details
	Great Southern Bank – Offset Variable Owner Occupier Principal & Interest (LVR 70%-80%)
Great Southern Bank – Offset Variable Owner Occupier Principal & Interest (LVR 70%-80%) More details
	6.30^%_p.a.	6.63^%_p.a.	^$2,476	Variable	^$0	^$790	98^%	More details
Unlimited RedrawsApply In Minutes	Sucasa – Ultra Low Rate (Variable) - <98% LVR - No LMI (New Purchases)
Unlimited RedrawsApply In Minutes Sucasa – Ultra Low Rate (Variable) - <98% LVR - No LMI (New Purchases) More details
	6.39^%_p.a.	6.44^%_p.a.	^$2,499	Variable	^$0	^$600	95^%	More details
	MOVE Bank – Everyday Home Loan (Principal & Interest) LVR > 90%
MOVE Bank – Everyday Home Loan (Principal & Interest) LVR > 90% More details
	6.39^%_p.a.	6.50^%_p.a.	^$2,499	Variable	^$10	^$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
	6.39^%_p.a.	6.53^%_p.a.	^$2,499	Variable	^$10	^$450	90^%	More details
	BOQ – Economy Home Loan (Principal and Interest) (LVR < 90%)
BOQ – Economy Home Loan (Principal and Interest) (LVR < 90%) More details
	6.29^%_p.a.	6.32^%_p.a.	^$2,473	Variable	^$0	^$445	80^%	More details
	Beyond Bank – Purple Basic Variable Home Loan (New Customer) (LVR 60%-80%)
Beyond Bank – Purple Basic Variable Home Loan (New Customer) (LVR 60%-80%) More details
	6.35^%_p.a.	6.38^%_p.a.	^$2,489	Variable	^$0	^$0	80^%	More details
	Freedom Lend – Freedom Variable Home Loan (Principal and Interest) (LVR < 80%)
Freedom Lend – Freedom Variable Home Loan (Principal and Interest) (LVR < 80%) More details
	6.44^%_p.a.	6.76^%_p.a.	^$2,513	Variable	^$0	^$0	70^%	More details
	Westpac – Flexi First Option Home Loan (New Customer) (LVR < 70%)
Westpac – Flexi First Option Home Loan (New Customer) (LVR < 70%) More details
	6.49^%_p.a.	6.52^%_p.a.	^$2,526	Variable	^$0	^$445	90^%	More details
	Beyond Bank – Purple Basic Variable Home Loan (New Customer) (LVR 80%-90%)
Beyond Bank – Purple Basic Variable Home Loan (New Customer) (LVR 80%-90%) More details
	6.64^%_p.a.	6.55^%_p.a.	^$2,213	Variable	^$0	^$0	80^%	More details
	Athena – Power Up Variable Home Loan (Interest Only) (LVR < 80%)
Athena – Power Up Variable Home Loan (Interest Only) (LVR < 80%) More details
	6.64^%_p.a.	6.67^%_p.a.	^$2,565	Variable	^$0	^$550	90^%	More details
	Well Money – Well Balanced Home Loan (Principal and Interest) (LVR 80%-90%)
Well Money – Well Balanced Home Loan (Principal and Interest) (LVR 80%-90%) More details
	6.64^%_p.a.	6.71^%_p.a.	^$2,565	Variable	^$0	^$1,170	80^%	More details
	Reduce Home Loans – Ultra Prime (LVR < 80%) ($250k-$500k)
Reduce Home Loans – Ultra Prime (LVR < 80%) ($250k-$500k) More details
	6.64^%_p.a.	6.76^%_p.a.	^$2,565	Variable	^$10	^$150	90^%	More details
	BOQ – Clear Path Variable Rate Home Loan (Principal and Interest) (LVR 80%-90%)
BOQ – Clear Path Variable Rate Home Loan (Principal and Interest) (LVR 80%-90%) More details
	6.94^%_p.a.	7.31^%_p.a.	^$2,645	Variable	^$395	^$200	90^%	More details
	Commonwealth Bank – Wealth Package Variable Home Loan (Principal and Interest) (LVR 80% - 90%)
Commonwealth Bank – Wealth Package Variable Home Loan (Principal and Interest) (LVR 80% - 90%) More details
	7.44^%_p.a.	7.77^%_p.a.	^$2,780	Variable	^$395	^$0	70^%	More details
	Westpac – Premier Advantage Rocket Home Loan (Principal and Interest) ($150k+) (LVR < 70%)
Westpac – Premier Advantage Rocket Home Loan (Principal and Interest) ($150k+) (LVR < 70%) More details
	7.46^%_p.a.	7.27^%_p.a.	^$2,487	Variable	^$8	^$0	80^%	More details
	NAB – Tailored Home Loan (Interest Only) (LVR < 80%)
NAB – Tailored Home Loan (Interest Only) (LVR < 80%) More details
	7.75^%_p.a.	7.80^%_p.a.	^$2,866	Variable	^$0	^$600	95^%	More details
	MOVE Bank – Standard Variable Rate Home Loan
MOVE Bank – Standard Variable Rate Home Loan More details
	7.79^%_p.a.	8.05^%_p.a.	^$2,877	Variable	^$15	^$1,395	80^%	More details
	Pepper – Pepper Easy Home Loan (Principal and Interest) (LVR 75%-80%)
Pepper – Pepper Easy Home Loan (Principal and Interest) (LVR 75%-80%) More details
	7.79^%_p.a.	7.49^%_p.a.	^$2,597	Variable	^$0	^$160	80^%	More details
	ANZ – Standard Variable Home Loan (Interest Only) (LVR < 80%)
ANZ – Standard Variable Home Loan (Interest Only) (LVR < 80%) More details
	7.84^%_p.a.	8.10^%_p.a.	^$2,891	Variable	^$15	^$995	85^%	More details
	Pepper – Pepper Clear Home Loan (Prime) (Principal and Interest) (LVR 80%-85%)
Pepper – Pepper Clear Home Loan (Prime) (Principal and Interest) (LVR 80%-85%) More details
	7.84^%_p.a.	7.86^%_p.a.	^$2,891	Variable	^$0	^$200	95^%	More details
	Commonwealth Bank – Extra Home Loan (Principal and Interest) (LVR 90%-95%)
Commonwealth Bank – Extra Home Loan (Principal and Interest) (LVR 90%-95%) More details
	7.84^%_p.a.	8.16^%_p.a.	^$2,891	Variable	^$395	^$0	95^%	More details
	Westpac – Premier Advantage Rocket Home Loan (Principal and Interest) ($150k+) (LVR > 80%)
Westpac – Premier Advantage Rocket Home Loan (Principal and Interest) ($150k+) (LVR > 80%) More details
	7.85^%_p.a.	8.07^%_p.a.	^$2,893	Variable	^$0	^$595	95^%	More details
	Newcastle Permanent – Real Deal Variable Home Loan (Principal and Interest) (Introductory)
Newcastle Permanent – Real Deal Variable Home Loan (Principal and Interest) (Introductory) More details
	7.86^%_p.a.	7.87^%_p.a.	^$2,896	Variable	^$0	^$180	95^%	More details
	Greater Bank – Great Rate Variable Home Loan (NSW, ACT & QLD only)
Greater Bank – Great Rate Variable Home Loan (NSW, ACT & QLD only) More details
	7.89^%_p.a.	7.19^%_p.a.	^$2,630	Variable	^$10	^$150	90^%	More details
	BOQ – Clear Path Variable Rate Home Loan (Interest Only) (LVR 80%-90%)
BOQ – Clear Path Variable Rate Home Loan (Interest Only) (LVR 80%-90%) More details
	8.80^%_p.a.	8.94^%_p.a.	^$3,161	Variable	^$8	^$800	95^%	More details
	Commonwealth Bank – Standard Variable Home Loan (Principal and Interest)
Commonwealth Bank – Standard Variable Home Loan (Principal and Interest) More details

Variable Home Loan (LVR < 90%)

Product Features

No monthly or ongoing fees
Unlimited free redraw
No application fee

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 July 27, 2024. View disclaimer.

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, InfoChoice.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and Performance Drive are part of the InfoChoice Group. In the interest of full disclosure, the InfoChoice Group is associated with the Firstmac Group. Read about how InfoChoice Group manages potential conflicts of interest, along how we get paid.

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