Genuine Savings
Funds you've accumulated yourself — required when deposit is under 20%.
What is Genuine Savings?
Genuine savings are funds you've accumulated yourself over time — typically 3 months or longer. Most lenders require evidence of 5% of the purchase price in genuine savings when your deposit is under 20%. Gifts, inheritances, lottery winnings and FHOG generally don't count.
Why it matters for you
Rent paid on time for 6–12 months is often accepted as substitute evidence. Share portfolios, term deposits and regular savings accounts all qualify. Redraw or offset balances from an existing loan typically count. Each lender's definition varies slightly.