The savings plan calculator provides the total balance of a regular savings plan, considering the opening balance, regular deposits, length of saving and interest rate that you input.
Length of Month:
All months are of equal length – 30 days.
Number of Weeks/Fortnights in a Year:
One year is assumed to contain exactly 52 weeks or 26 fortnights. This means each year has 364 days.
Timing of Interest Charges:
The calculator assumes that interest is charged to the loan account at the same frequency as the repayments are made. In practice, there may be differences between the timing of the loan repayments and the timing of the interest charges being added to the loan balance.
The calculator assumes that interest is calculated daily and paid monthly.
The total interest earned amount is rounded up to the nearest dollar.
The results provided by these calculators are an approximate guide only, and do not necessarily correspond to the precise calculations of NAB deposit products. Any information or results contained in this calculator have been prepared without taking into account your objectives, financial situation or needs. Before acting on the calculator results, NAB suggests you consider whether it is appropriate for you. The actual method of calculation in practice can vary depending on the product/account chosen.