Savings Comparison Calculator Australia
Compare after-tax returns across HISA, mortgage offset, term deposits, and super. See which savings channel gives you the best return for your tax bracket.
01 —INPUTS
The amount you have to save or invest
High-interest savings account rate (interest is taxable)
Your home loan interest rate (offset saves this rate, tax-free)
Term deposit interest rate (interest is taxable)
Assumed annual return in super (default 7%)
Your marginal tax rate including Medicare Levy
How long you plan to hold the savings
02 —RESULTS
Best OptionSuper (Concessional)
Best After-Tax Return$2,205.75
Comparison Table
ChannelPre-TaxTaxAfter-TaxNet Balance
High-Interest Savings$500.00-$160.00$340.00$10,340.00
Mortgage Offset$600.00-$0.00$600.00$10,600.00
Term Deposit$450.00-$144.00$306.00$10,306.00
Super (Concessional)$505.75-$1,589.25$2,205.75$9,095.00
Ranking
1. Super (Concessional)$2,205.75
2. Mortgage Offset$600.00
3. High-Interest Savings$340.00
4. Term Deposit$306.00
How this works: Each channel is compared on an after-tax basis. HISA and term deposit interest are taxed at your marginal rate. Offset savings are tax-free (interest not paid). Super contributions are taxed at 15% rather than your marginal rate, and super earnings are also taxed at 15% — but you cannot access the money until preservation age.
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Tax Accuracy & Sources
This calculator is an estimate tool and may not cover all personal circumstances. For state-based taxes, confirm details with your state or territory revenue office.
Why is offset often better than HISA?
Mortgage offset accounts reduce your home loan interest, which is a tax-free benefit. HISA interest is taxable at your marginal rate. At the same interest rate, offset always wins after tax.
How is super taxed?
Concessional (before-tax) super contributions are taxed at 15% going in, and earnings are taxed at 15%. This is usually much lower than your marginal tax rate, making super very tax-effective — but you can't access the money until preservation age.
Which savings channel is best for me?
It depends on your goals. Offset is best for tax-free returns and flexibility. Super is best for long-term retirement savings due to the low 15% tax rate. HISA suits emergency funds. Term deposits suit fixed-term goals.