Borrowing Power Calculator
Carlisle Homes' Borrowing Power Calculator helps you estimate your borrowing capacity based on your income and expenses. Start planning your dream home!
View nowDeposit Savings Calculator
Set Your Savings Goal and Track Your Progress
Saving for a home deposit is an exciting step in your home-buying journey, and with the right tools, it’s easier to stay on track. The Deposit Savings Calculator helps you see exactly how much you need to save and how long it will take to reach your goal.
With Carlisle’s Deposit Savings Calculator, you can easily track your progress and stay on top of your savings target. By entering your current savings balance, regular contributions, and interest rate, Carlisle is here to help you confidently reach your deposit goal.
Enter Your Savings Details And Start Saving
To calculate how long it will take to reach your savings goal, enter your current starting balance, the monthly contributions you plan to make, and the interest rate your savings account offers. Additionally, input the total savings goal you're aiming for. Accurate information will give you the best estimate of how quickly you can save for your deposit.
Award-Winning Home Builder
Carlisle Homes is thrilled to be recognised as Australia's Most Professional Major Builder for 2023 by the Housing Industry Association (HIA). The HIA's annual awards program is the highest measurement of excellence within the residential building industry. So if you’re looking for award-winning home designs, ours are among the best in Australia.
How Does the Deposit Savings Calculator Work?
The Deposit Savings Calculator takes your current savings account balance, planned monthly contributions, and the interest rate applied to your savings. Based on these inputs, it calculates how long it will take to reach your savings goal. The tool assumes that your contributions are consistent over time and that the interest rate remains steady. However, it doesn’t account for changes in interest rates, fees, or unexpected withdrawals, so it’s best used as an estimate to help guide your savings plan.
Backed by Financial Experts
Our Deposit Savings Calculator was created alongside Carlisle Homes' finance experts. Designed to provide accurate estimates, this tool helps you plan your savings effectively and gives you reliable insights into how long it will take to reach your deposit goals.
2024 Master Builders Australia Large Residential Builder
2023 HIA Victoria’s Most Professional Builder
2023 HIA Australia’s Most Professional Builder
2023 Master Builders Australia Large Residential Builder
2023 Australian Achiever Awards Excellence in Customer Service
2022 HIA Victoria’s Most Professional Builder
2022 Master Builders Australia Large Residential Builder
2022 Australian Achiever Awards Excellence in Customer Service
2021 HIA Australia’s Most Professional Builder
2020 HIA Victoria Most Professional Builder
Explore More Calculators
Need assistance with budgeting, estimating your borrowing power, or comparing home loans? Our range of financial calculators is here to help you at every stage of your journey.
First Home Buyer Calculator
Use our First Home Calculator to estimate your deposit, borrowing power, and eligibility for the First Home Owners Grant. Plan your first home purchase.
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Home Loan Repayment Calculator
Use our Home Loan Repayment Calculator to estimate your monthly mortgage repayments. Compare fixed and variable rates to plan your budget—start now!
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Stamp Duty Calculator
Estimate your property stamp duty costs with our calculator. See details for first-time buyers and transfer fees—start planning your purchase now!
View nowWe work with industry-leading finance specialists
Our in-house construction finance specialists offer you free, transparent and no obligation financial services, to save you time and money, and get you into your new home faster.
These industry-leading mortgage experts will take the time to ask the right questions to help you compare hundreds of loan options and find the most suitable loan for your individual needs.
Enquire now
Complete the form to start your home building journey today.
Privacy Notice
Your information is collected by Carlisle Homes Pty Ltd and will be used and held in accordance with our Privacy Policy. This information is collected for the purpose of inclusion on our communications database and for the purpose of providing access to key features on our website. The purpose of this communications database is to provide members with information about Carlisle Homes and/or our related services or products. For further information on our Privacy Policy or our complaints process please read our Privacy Policy.
Meet Our Finance Experts
Our finance experts are here to help you navigate the complexities of home loans and building costs. From understanding your borrowing power to comparing loan options, our team has the knowledge to guide you every step of the way.
Simon Woods | General Manager - Finance
Simon Woods brings a unique blend of financial expertise, industry insight and unwavering calm to his role as General Manager of Finance at Carlisle Homes.
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Mark Polatkesen | General Manager - Mortgage Domayne
Mark Polatkesen, with over two decades of experience, leads Mortgage Domayne, one of Australia’s largest construction-focused mortgage brokerages.
Read moreSuccess stories
Michael & Tina
From renovations to custom-designed duplexes, Michael and Tina chose Carlisle for their dream home, opting for a knockdown rebuild that exceeded expectations.
See their story
Mitar & Tracey
With location a priority and a very clear idea of what they wanted in a new home, this clever couple made early plans to knockdown and rebuild.
See their story
Sameer & Priya
Sameer and Priya chose the Montague Grand floorplan for its space and brightness, creating a home tailored to their family’s unique needs and dreams.
See their story
Karlie & Sam
For first-home buyers Karlie and Sam, choosing to build an EasyLiving home was a bold leap into independence, marking their first time living out of home.
See their story
Related Tools and Resources
Discover additional tools and resources designed to assist you with budgeting, saving, and navigating the home loan process.
Fixed, Variable or Split? Choosing the Right Loan Structure For You
Explore fixed, variable, and split mortgage options to select the right loan structure, ensuring financial stability and smart long-term homeownership.
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Is Now the Time to Get a Fixed Rate Home Loan?
Evaluate if a fixed-rate home loan fits your needs, offering stability and predictability to make smart decisions in today’s dynamic financial market.
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Three Things You Need to Get Your Home Loan Approved
Boost your chances of home loan approval with three essential strategies, ensuring a smoother process as you take steps toward owning your dream home.
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Frequently Asked Questions
How much do I need to save for a house deposit?
The typical amount you need to save for a house deposit is around 20% of the property's purchase price. For example, if you're buying a home worth $500,000, you would generally need a deposit of $100,000. However, some lenders may accept a lower deposit, such as 5-10%, but this often requires you to pay lenders mortgage insurance (LMI). The more you save for a deposit, the lower your loan-to-value ratio (LVR), reducing your monthly repayments and improving your chances of securing a better interest rate.
How long will saving for a home deposit take?
The time it takes to save for a home deposit depends on your income, savings rate, and the cost of the property you want to buy. To estimate, divide your deposit goal by how much you can save each month.
For example, if you need to save $80,000 for a deposit and you can save $2,000 per month, it will take 40 months (just over 3 years) to reach your goal. Using our savings calculator can help you factor in your current savings, monthly contributions, and interest earned to get a clearer timeline for reaching your deposit goal.
How accurate are the estimates from the savings calculator?
The savings calculator provides estimates based on your input information, such as your annual interest rate, starting balance, and regular savings. These estimates offer a useful guide, but your actual results may vary depending on factors like interest rate changes or unforeseen financial situation changes.
Can I use the savings calculator to calculate compound interest?
Yes, our calculator functions similarly to a compound interest calculator. It calculates how much your savings will grow over time, taking into account compound interest on your savings account balance and regular contributions.
How much interest will I earn on my savings?
The calculator estimates your interest based on the annual interest rate applied to your savings. You can adjust the interest rate and savings contributions to see how different scenarios will impact your overall savings growth.
Can I use the calculator for different types of savings accounts?
Yes, the savings calculator can be used for various accounts, whether you're earning a bonus or regular interest. Simply input the relevant interest rate and details to see how your savings will grow over time.