Mortgages
Best Way to Save for a House Deposit
Save a house deposit faster with a high-interest account, automatic monthly saving and a clear target. Use our calculator and savings hacks to hit your goal sooner.
Free tool
Savings Calculator
See how your savings could grow. Add a starting amount and what you save each month to project the total with compound interest.
Projected total£30,941
£5,941 growthYou’d put in £25,000 and earn £5,941 in interest.
Assumes interest compounds monthly at a fixed rate. Real returns vary, and a tax-free ISA can help you keep more of the growth.
The magic of compounding
Compound interest means you earn interest on your interest, not just on what you put in. Given time, that turns steady monthly saving into a total far bigger than your contributions alone, which is why starting early matters more than starting big.
Two ways to keep more of it
- Use an ISA. Interest and growth inside an ISA are tax-free, up to your annual ISA allowance.
- Shop the rate. A higher rate compounds harder over the years, so it is worth reviewing where your savings sit.
Keep reading
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