Save for a Bigger Purchase
- Learn how to save for your dream — whether that is a piece of equipment, your studies abroad, or a new motor scooter
- Calculate your monthly savings amount
- Read up on frequently asked questions about saving up
- Get to know our three savings products
Studies & data Why You Need a Clear Savings Goal
People with a defined goal are far more successful at saving up than those who just put something aside with no clear finish line. A specific target makes progress visible and planning easier.
73%
of people with a specific savings goal reach it within the planned timeframe.
6–18 months
is the ideal time horizon for saving toward a specific goal.
50–200 €/month
is enough to fund a major purchase within a year.
Your savings roadmap How to Reach Your Savings Goal in 4 Steps
Whether you are saving 500 € or 5,000 €, the path is the same. The following four steps help you plan realistically and stay on track.
Plan your savings Our Savings Calculator
Just enter your target and timeline below and the calculator will tell you exactly when you’ll reach your goal and how much interest you’ll earn along the way.
Interactive tool Calculate your savings
You have a savings goal, but don’t know how long it will take you to reach it? Use our calculator below and find out! The tool will also show you the most fitting savings product for your needs.
Which Savings Product Is Right for You?
There are a variety of savings products to choose from. Here we have gathered three different types with different degrees of flexibility.
Online savings
2.75% p.a.
An online savings account offers full flexibility at no risk and is most suitable for short-term saving goals.
Building savings
3.25% p.a.
in the first year
Looking to finance a home in the future? This savings plan lays the groundwork for your dreams.
Fund savings
Varying payout
The savings account with the biggest opportunities but also biggest risks.
Learn from others 5 Common Savings Mistakes And How to Avoid Them
Almost everyone makes mistakes when saving, especially at the start. Here are the five most common pitfalls and what to do instead.
Start with an amount that doesn’t hurt. 100 €/month for 12 months beats 500 €/month and quitting after 2. Build the habit first, then increase gradually as you get more comfortable.
A vague intention has no deadline and no way to measure progress. Instead, clearly define your goals. "1,800 € for a camera by March" gives you a clear amount, a purchase to look forward to and a timeline.
An automatic transfer on or after payday is the single most effective trick. An automation removes the tedious aspect of having to transfer money manually each month.
Saving less one month is fine — stopping entirely kills the habit. Even 20 € keeps the momentum going. Think of it like exercise: A short workout is still more effective than skipping the gym entirely.
A separate savings account creates psychological distance. When your savings sit in your current account, they’re just unspent money. Keeping your savings separated stops you from spending it, whether by accident or on purpose.
Real stories from real savers What Are Others Saving For?
Get inspired for your own savings journey!
Your questions answered Frequently Asked Questions About Saving for a Purchase
Everything you need to know about saving for a bigger purchase — from choosing the right account to staying on track.
Divide your goal by the number of months. For example, 1,200 € in 6 months means 200 € set to the side per month. Though you need to start with what feels comfortable — even 50 €/month adds up to 600 € in a year. The key is consistency, not the amount.
A flexible savings account with no lock-in period is ideal. If you need easy access in case plans change and minimal market risks as well as attractive interest rates, a Raiffeisen savings account is perfect for you.
For goals under 2 years, a savings account is safer. Stock markets can drop 20-30% in a single year. If you need the money in 12 months, that risk is too high. Investing makes most sense for long-term goals like retirement.
Name your account after your goal and track progress visually. Some savers even tape a photo of their goal to the fridge. The more tangible the goal, the stronger the motivation.
Yes. The Raiffeisen savings accounts have no penalties for early withdrawal. You can pause, reduce, or withdraw at any time without fees.
All deposits up to 100,000 € per person are protected by the Austrian deposit guarantee scheme, which is backed by EU law. Exceptions apply to investment products like fund savings.
Reduce your monthly amount temporarily — even 20 € keeps the habit alive. What matters is that you don’t stop entirely. You can always increase the amount again when you’re ready.
You can open a savings account online in under 5 minutes or visit any Raiffeisen branch. You’ll need valid ID and an existing current account. There’s no minimum deposit — start with whatever you have.
Ready to Start? Open Your Savings Account Now.
Open your savings account online in under 5 minutes and set up your first automatic transfer today.