Start building your deposit

Whether you call it 'Home sweet home' or 'Backyard fund', choose the account that suits you best:

• An Online Call account is great if you want to start saving but you're still figuring out your numbers. You’ll earn interest without locking your money away, so you can access it if it turns out you went too hard too soon.
• A Notice Saver account gives you a better return. You’ll need to be confident you won't need the money any time soon as you have to give 32 or 90 days’ notice to withdraw anything without a fee. This keeps your savings safely tucked away and working harder.

Get clear on your spending and saving, and challenge yourself a little.

Which spending matters to you most? Is there anything you’d rather redirect into your deposit savings?

If you want a fuller picture and more confidence, setting up a budget can help you be intentional, without being restrictive. See our guide on creating a budget.

Once you've worked out how much you can comfortably put aside each pay day, set up a recurring transfer from the account you get paid into, straight into your savings.

Getting your savings to grow in the background means you won't have the mental load of remembering to make a transfer, or making that savings choice each time.

Make the savings choice now, and let your bank account do the work quietly.

Now's a great time to sign up to our email series and get curious about the buying process. Through occasional bite-sized learnings sent to your inbox, you’ll be able to make more informed decisions on your first home journey.

Get tips sent straight to your inbox.

Understand the long-term numbers you're aiming for.

Put either your target property price or your target deposit amount into our first home buyer calculator, along with a few other details. It calculates how much you may be able to borrow, and what property value this translates to.

Doing this can help you see what’s realistic for your situation, and how long you might need to save for. Clearer numbers and fewer doubts can can keep you on track to achieving your goal.