Important disclosure
Pros and cons
For Term Deposit
Benefits
- Interest can be paid to other institution
- Only 1 days notice to withdraw funds before maturity
- Automatic maturity rollover
- Maturity alert by phone
Drawbacks
- Early withdrawal available with $25 fees
Horizon Bank Rate Term deposit overview
For Term Deposit
Features
Min deposit $1,000 | Automatic maturity rollover |
Maturity alert by phone | Maturity alert by email |
Joint application available | Minimum Age Requirement |
Notice period to withdraw 1 | Is covered by government guarantee |
Target Market Determination Visit Horizon Bank to view Target Market Determination. |
Interest
Interest Calculation Frequency Daily | |
Interest payment via other institution | Interest payment method Direct Credit, Rollover on maturity |
Fees
Account keeping fee $0 | Early withdrawal fee $25 |
Rates
Horizon Bank term deposits rates
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Other Restrictions
Only one early withdrawal from the Term Deposit is allowed. If the remaining portion results in the investment being reduced to lower than the minimum balance of $1,000 the investment account must be closed.