Savings · Calculator

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

Sets the marginal rates and the super concessional cap used below

The amount you have to save or invest

Added at the end of each month. Leave at 0 to compare a lump sum only.

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

$10,000.00 of the $32,500.00 concessional cap used, before any carry-forward.

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. Monthly deposits are added at the end of each month and earn from the following month. A term deposit is locked for its term, so it is compared on the starting balance alone. Concessional contributions above the cap are included in your assessable income and taxed at your marginal rate.
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Need a live HISA input? Use the CDR savings account rate explorer to filter public rates and send one back to this calculator.

Tax Accuracy & Sources

Reviewed: March 2026 · Tax year: 2026-27

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.

Choosing super as your savings channel? Fees still matter within the fund — see the Super Fund Fee Comparison Calculator to compare two funds' admin, investment and insurance fees.

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