Whether you're stashing cash for a big purchase, building up your rainy day fund, or just want to see how your savings could grow, our savings and term deposit calculator has got your back. All you have to do is provide some basic information about your savings plan, and we'll provide you with an estimate of how much interest you could earn and how long it could take to reach your savings goal.
How to use our savings and term deposit calculator
First, let us know where you'll be keeping your money – in a savings account or a term deposit. Then enter the amount, interest rate, and some details about your savings plan (like how long you're looking to leave it there for and if you'll be making any regular deposits). Our savings and term deposit calculator will do the maths for you, so you can focus on more important things – like saving money.
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Got a question about savings accounts or term deposits?
You can close your term deposit account early at any time, but doing so will likely affect the amount of interest you receive.
Further information is available in our Term Deposit Account Terms & Conditions.
At the time of opening your term deposit account, you set instructions for what you want us to do with your deposit and interest when it matures.
When your term deposit is due to mature you can explore your options to:
- add some funds to your term deposit,
- transfer funds to another nominated account,
- renew your term deposit for a new term,
- change your interest payment instructions, or
- a combination of these options.
You can also choose to leave your money – and the interest you've earned – in the same term deposit (it’s what we call a rollover).
Your instructions can be provided any time up to your term deposit maturity date, or within the seven-day grace period following the account maturity.
View the Term Deposit Account Terms & Conditions for more information about rollovers.
The interest on a savings accounts is calculated on your daily balance and is credited to your account on the last day of every month. This means that every deposit you make throughout the month will earn interest from that day onwards.
Bonus interest, if applicable to your account, will also be calculated on your daily balance in line with the bonus interest conditions for your account.
You can open an everyday banking, savings, or term deposit account online in a matter of minutes – even if you're not a BCU Bank customer.
If you're a new customer you’ll need to be at least 18 years old and have two forms of ID to open your account online.
To open a term deposit, you'll need to first open a fee-free Access Account (or a savings account) and transfer your money in. Once your funds have been received, you can log in to internet banking or the BCU Bank app and open your term deposit.
If you already bank with BCU it's even easier. You can open most deposit accounts online by going to ‘Apply’ in internet banking or ‘Open account’ in the BCU Bank app.
Important information
Banking and Credit products issued by Police & Nurses Limited (BCU Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms & conditions, fees & charges apply.
The results from this calculator should be used as an indication only. Figures provided are for illustrative purposes only and are based on the information provided. Results do not represent a quote or pre qualification for a product. Information such as default figures used in the assumptions are subject to change.
Calculator by Widget Works