What is genuine savings?
Genuine savings is the portion of a deposit lenders require to be accumulated over 3+ months in your own account, proving you can save consistently, distinct from gifted, inherited, or windfall funds.
Lenders require 'genuine savings' to evidence the borrower's ability to accumulate funds over time, distinct from one-off windfalls. The standard requirement is 5% of the purchase price held in your own bank account for 3+ months, with regular deposits visible on statements.
What counts: savings account balances accumulating over 3 months, term deposit balances older than 3 months, shares held over 3 months. What doesn't count: gifted deposits (parental gifts), inheritance, lottery wins, tax refunds, BAS refunds, FHOG. Lenders distinguish these because they don't evidence savings behaviour.
Workarounds for non-genuine-savings buyers: pay 12+ months of rent on a fixed lease (most lenders accept rental payment history as evidence of disciplined cashflow management), use a guarantor (the equity pledge can replace the genuine savings requirement), or wait 3 months after the gift hits your account so it 'seasons' into a saved balance.
Also called
genuine savings requirement · 3 month savings · savings history
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- Gifted deposit: A gifted deposit is cash provided by a family member (usually parents) to help fund a property purchase, accepted by len…
General information only, not personal financial advice. Verified against https://ratesniffers.com.au/glossary on 2026-06-01.