Anz Savings Account Calculator

This ANZ Savings Account Calculator helps you estimate how much interest you'll earn on your savings with ANZ. Simply enter your deposit amount, interest rate, and term length to see your projected earnings and compare different savings options.

How the ANZ Savings Account Calculator Works

The ANZ Savings Account Calculator uses a simple compound interest formula to estimate your potential earnings. Compound interest means that interest is earned on both your initial deposit and the accumulated interest over time.

Formula Used

Future Value = P × (1 + r/n)^(nt)

Where:

P = Principal amount (initial deposit)
r = Annual interest rate (in decimal)
n = Number of times interest is compounded per year
t = Time the money is invested for (in years)

For ANZ savings accounts, the calculator assumes interest is compounded monthly (n=12). The calculator shows both the total future value of your savings and the total interest earned over the term.

Note

This calculator provides an estimate based on current interest rates. Actual earnings may vary depending on market conditions and specific account terms.

How to Use the ANZ Savings Account Calculator

Enter your initial deposit amount in the "Initial Deposit" field.
Enter the annual interest rate offered by ANZ in the "Annual Interest Rate" field.
Select the term length for your savings in the "Term Length" dropdown.
Click the "Calculate" button to see your results.
Review the projected future value and total interest earned.
Use the "Reset" button to clear all fields and start over.

The calculator will display your results in a clear, easy-to-read format. You can also view a chart showing your savings growth over time.

Formula Used

The ANZ Savings Account Calculator uses the compound interest formula:

Compound Interest Formula

Future Value = P × (1 + r/n)^(nt)

Where:

P = Principal amount (initial deposit)
r = Annual interest rate (in decimal)
n = Number of times interest is compounded per year (12 for monthly compounding)
t = Time the money is invested for (in years)

For example, if you deposit $1,000 at 2% annual interest compounded monthly for 5 years:

P = $1,000
r = 0.02
n = 12
t = 5

The calculation would be: $1,000 × (1 + 0.02/12)^(12×5)

Worked Example

Let's look at a practical example to see how the ANZ Savings Account Calculator works.

Example Calculation

Suppose you want to save $5,000 in an ANZ savings account with a 1.5% annual interest rate for 3 years.

Enter $5,000 as the initial deposit.
Enter 1.5 as the annual interest rate.
Select "3 years" as the term length.
Click "Calculate".

The calculator will show:

Projected future value: $5,396.50
Total interest earned: $396.50

This means after 3 years, your $5,000 deposit will grow to approximately $5,396.50, earning you $396.50 in interest.

Savings Growth Over 3 Years
Year	Starting Balance	Interest Earned	Ending Balance
1	$5,000.00	$75.00	$5,075.00
2	$5,075.00	$76.13	$5,151.13
3	$5,151.13	$77.27	$5,228.40
Total Interest Earned			$396.50

Frequently Asked Questions

How accurate is the ANZ Savings Account Calculator?: The calculator provides an estimate based on the compound interest formula. Actual earnings may vary depending on market conditions and specific account terms.
Does the calculator account for fees?: No, this calculator does not account for any fees. It provides a simple estimate of potential interest earnings.
Can I use this calculator for other banks?: Yes, you can use this calculator for any savings account by entering the appropriate interest rate.
How often is interest compounded?: The calculator assumes monthly compounding, which is typical for savings accounts.
Is the calculator free to use?: Yes, the ANZ Savings Account Calculator is completely free to use with no hidden fees or subscriptions.