Horizon Bank term deposit interest calculator

Thinking about taking out a term deposit with Horizon Bank? Use our term deposit calculator to see how much you can earn under different investment scenarios. You can also see how Horizon Bank term deposits compare with other options.

Deposit Amount

$

Savings Duration

months

Final balance at the end of term would be

at interest rate 0.75 %

Horizon Bank term deposits rates

Interest rate

0.35%

p.a for 6 months

Min. deposit

$250,000

Next rate increased

Max rate

0.35%

p.a for 6 months

Balance Amount

$500.9k

Features
Automatic Maturity Rollover
Early Withdrawal Available
Is Covered By Government Gurantee
Joint Application Available
Maturity Alert By Email
Maturity Alert By Phone
Go to site
More details
Interest rate

0.40%

p.a for 6 months

Min. deposit

$5,000

Next rate increased

0.50%

p.a for 12 months

Max rate

0.60%

p.a for 24 months

Balance Amount

$501k

Features
Automatic Maturity Rollover
Early Withdrawal Available
Is Covered By Government Gurantee
Joint Application Available
Maturity Alert By Email
Maturity Alert By Phone
Go to site
More details

Learn more about term deposits

Is a term deposit an asset?

The short answer is yes – a term deposit is, indeed, an asset.

Regardless that the funds are locked away for a fixed period, when it comes to the balance sheet, it’s considered an asset.

Aside from being an asset, term deposits are also cash investments which are held at financial institutions like banks or credit unions.

Term deposits work by investing a set amount of cash in a bank account for a fixed period at a fixed interest rate.

When you deposit your money in a term deposit, you’re agreeing to lock it away for a predetermined period, ranging from short-term periods of one month all the way to long-term periods of up to 10 years.

Term deposits are a popular way to boost your bottom line by investing your money and increasing the value of your asset.

What are the current AMP Bank business term deposit rates?

Term deposit interest rates are subject to frequent market change. To view the most current AMP Bank business term deposit rates, it’s best to view the provider’s website directly

If you want to earn competitive rates on your fixed deposits for an amount between $100,000 and $500,000, AMP Bank deposit may worth considering. Term deposits with AMP Bank allow you to earn reliable returns for different tenures between one month and five years.

You can also choose when you want to receive the interest; monthly, quarterly, or half-yearly. If you wait until maturity, you’ll earn the full interest.

AMP Bank term deposits do not charge monthly maintenance fees. If you’re at least 13 years and an Australian citizen with a local address, you’re eligible for AMP Bank term deposit.

What are Bendigo Bank’s business term deposit rates?

Bendigo Bank offers businesses two types of term deposits - Standard and Gold. You can open a Standard term deposit by investing at least the specified minimum amount for a flexible investment period ranging up to five years. A Gold term deposit requires a larger minimum investment over a fixed term, which is currently one year.

However, you can’t add funds to a Standard term deposit after the first seven days, and any withdrawals before the review date need to be done on request. If you’ve opened a Gold term deposit, you can add more funds over the year, but withdrawals may be restricted just as with a standard term deposit.

A Standard term deposit’s interest rate depends on the amount deposited, the frequency of compounding interest, and the deposit term. Further, this interest rate may apply irrespective of how often interest is compounded. On the other hand, Gold term deposits usually offer a flat interest rate no matter how large or small the deposit, with the interest likely compounded every quarter. 

To find out about Bendigo Bank’s current business term deposit rates, visit the banks’ website.

What are ME Bank’s term deposit interest rates for businesses?

ME Bank offers a variety of rates for business term deposits, depending on the amount of time you choose. You won’t have to pay any set-up or account-keeping fees for your business deposit. You can invest as little as $5,000 or as much as $2 million with a term duration between one and 60 months. 

The ME business term deposit rate is determined based on the term and when you wish to receive interest payments. 

While rates are set by the lender, you should always check with ME Bank to find out what the term deposit rates are, and which are applicable to your situation. 

What is a short term deposit?

Sometimes you only want to tie up your money for a short period, maybe because you want to make a quick return on a large sum, or just to have more flexibility and access to your money. That’s where a short term deposit can come in.

Short term deposits are usually less than 12 months (e.g. 30 days, 90 days, six months or 12 months), though you will still not be able to access your money for the length of the term without incurring a penalty fee.

At the end of the term, you can roll your deposit over, or you can withdraw it. An advantage of short term deposits is that you can take advantage of higher interest rates with a different financial institution, if they are available.

Will term deposit rates increase?

While there’s no definite way to predict when term deposit rates will increase, it may help to understand some of the factors that influence term deposit interest rates.

The official cash rate is set by the Reserve Bank of Australia (RBA). When the RBA either increases or cuts interest rates, it influences the interest rates set by banks.

The other factor that determines when term deposit rates will rise is competition between banks. Banks may increase their term deposit rates or offer higher rates as an incentive to win new customers over or increase their market share.

Term deposit interest rates will also change, depending on how much you invest and how long you invest.

Can you add money to a term deposit?

When you open a term deposit, you agree to lock your money away for a set period and earn a fixed amount of interest during that period.

Where everyday transaction accounts give you the flexibility to deposit and withdraw funds as frequently as you like, term deposits trade flexibility for higher interest rates.

Once your funds are deposited in a term deposit, they’re fixed for the length of the term, meaning you can’t add additional funds midway through the term.

When the term deposit matures, you may have the option to add additional funds and roll the funds over for another term, or you may choose to withdraw the money at that point.

If you have extra funds to invest, you could consider opening an additional short term deposit account or a high-interest savings account.

It’s worth noting that you can withdraw the funds midway through the term, but a penalty is likely to apply.

What can a Westpac business term deposit offer me?

If you have a business registered in Australia, you can earn fixed returns on your funds with a Westpac business term deposit. These accounts are offered for a minimum investment amount of $50,000.

Westpac business term deposit interest rates vary based on the term and interest payment frequency that you select.

If you are a Westpac customer and use online banking, you can apply for a Westpac business term deposit online. If you don't have a Westpac account currently, you need to speak with a business banker to discuss your term and repayment options. You can find details on this webpage and can ‘request a callback’ from someone in the business team.

If you are an existing customer you may be eligible for a bonus rate on top of the standard Westpac bank business term deposit rates. You can log in to your bank account to check whether your banking records qualify you for extra interest.

If you open a deposit and need to access your locked funds before the maturity of your term deposit, you must provide 31 days of notice, except in cases of hardship.

Are term deposits worth it?

Ultimately, whether term deposits will work for you will depend on your particular financial needs.

Term deposits can be a great way to get your money working for you. By locking it away and forgetting about it for a period of time, it can earn interest for you. If you have the interest paid on a regular basis, rather than at maturity, you can either have some extra spending money or you can reinvest it into the term deposit to compound.

Of course, locking your money in a term deposit means you cannot access it for the length of the term, without paying a penalty for early withdrawal. This can remove the temptation to spend the money, while it also earns interest.

Can an international student have a term deposit?

If you’re looking for a steady way to grow your funds as an international student, you might be considering the possibility of a term deposit. Banking for overseas students can be complicated, so you might be wondering, “Can an international student have a term deposit?”

So, can an international student open a term deposit? The answer is yes.

Several banks around Australia offer term deposits to international students. Some banks even have specific accounts and offers designed for those who study overseas.

In general, large banks will offer several options for international students. If you have already opened an account with a bank, it might be best to start by discussing your options with your chosen bank.

What is a term deposit?

A term deposit is an investment savings account. A term deposit usually pays a higher rate of interest than a regular savings account, with the interest rate fixed for the term (or duration) of the deposit.

You can open a term deposit account for one month or up to five years depending on your investment goal, and invest as little as $500 to start earning a profit.

With a term deposit, you get to decide how much you want to invest (the principal or deposit), for how long (the term or duration) and the frequency of interest payments.

A term deposit represents a secure form of investment, unlike trading in shares or purchasing real estate. And a term deposit up to $250,000 is protected by the government guarantee.

Can students make term deposits?

If you are a student who has managed to save some money and are looking for a safe investment option, you may be considering a term deposit. Most term deposits (and other bank accounts) are open to anyone who is at least 18 years old.

There are also some term deposits open to younger students, some even without an age limit. These term deposits are usually opened on the student’s behalf, by their parent or guardian.

A term deposit is generally a safe investment option, especially if you want to make sure you can’t touch your savings for a set period of time. If you are 18 or older, shop around for a competitive interest rate before committing. If you are under 18, speak to your parent or guardian to get started.

What are Bankwest business term deposit rates?

Looking to invest some of your business funds with a fixed interest rate? You could consider a business term deposit with Bankwest. Bankwest calls these accounts Business TD Direct, and accepts deposits of amounts between $10,000 and $2,000,000. 

When it comes to Bankwest term deposit rates for business, you can find information here. If you choose a term of over a year, you can ask for interest to be paid monthly, quarterly, biannually or annually. The Bankwest business term deposit rates do, however, vary based on the term length you choose. 

If you need the funds before your term deposit’s maturity date, you need to give 31 days notice. Also withdrawing the funds will impact the interest you earn.  

You can contact a Bankwest business banking specialist by calling on 13 7000 and get more details about business term deposits. 

How often do term deposit rates change?

One of the advantages of a term deposit is that this type of investment enjoys a fixed interest rate. This means that the interest rate that you have signed up for will not change during the period of your term deposit, regardless of rising or falling market interest rates.

However, it is important to be aware of the end of your term deposit. Once your term ends, whether this is in three months or three years, many banks will default to rolling over your deposit into a new term, sometimes with a lower interest rate. Once your term deposit rolls over, you will then be locked into this new fixed interest rate for another term.

Make sure to use the grace period at the end of your term to your advantage. Shop around for a competitive interest rate and reinvest your money accordingly.

What is a term deposit account in a bank?

A term deposit account in a bank is a type of investment where you lock away a portion of your savings for a fixed period in return for earning a set amount of interest.

Opening a term deposit account in a bank is a safe way to earn a stable return on your investment of cash.

Term deposit accounts can be a good way to give your savings an extra boost without the need to actively watch or manage your funds during the term of the deposit.

Term deposit accounts in a bank are a popular type of investment because they’re safe and there’s very little risk that you could lose your money.

If you make a term deposit of up to $250,000 with an authorised deposit-taking institution, it’s guaranteed by the Australian government, which means there’s virtually no risk of losing your money and you’re guaranteed return.

Interest rates vary depending on the length of the term, the amount you deposit and the bank you choose.