Genuine Savings

What are Genuine Savings?

When you are purchasing a property, most banks require you to contribute “genuine savings” towards the purchase. This is money that has been held or saved over a minimum of three months. Generally it is between 3% and 5% of the purchase price.

Genuine savings is usually only required if you borrow more than 80% of the purchase price. It includes the following:

  • Shares or managed funds that have been held over a three-month period or more.
  • Any cash (from anywhere except borrowings) that has been held for more than three months
  • Savings from your regular ongoing income (e.g. salary)
  • Equity in other property, or cash from the sale of a property

It does not include any lump sum cash that has been held for less than three months, such as first homeowners grant, gifted funds, borrowed money etc.


A) Genuine savings: You received a bonus from work in the form of some cash three months ago, and have maintained the balance in your account ever since. 

B) May be Genuine: You sold a house or shares six months ago, but have been spending the money ever since. You would need to provide a very good explanation to the bank.

  • To show proof of genuine savings, you need to provide bank statements, term deposit statements, shareholdings statements etc covering the last three months.
  • If any deposits on those statements came from other bank accounts, then you will need to also provide statements from the source bank accounts.


C) Genuine savings: The savings account has increased over time using money from your wages.

D) Not genuine savings: Your savings account shows that your deposit is partly made up of a tax refund or other irregular income.

For more detailed information, contact your Naritas credit adviser.