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  4. Term Deposit

Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by phone

Interest rate

1.25%

Maximum rate

4.70%

for 12 months

Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by phone

Interest rate

1.25%

Maximum rate

4.70%

for 12 months

RateCity says

"A term deposit offering with a range of fixed term periods and competitive interest rates. Designed to help everyday Aussies grow their savings."

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 Frequency Options

Annually, At Maturity

Interest payment via other institution

Interest payment method

Direct Credit, Rollover on maturity

Fees

Account keeping fee

$0

Early withdrawal fee

$25

Rates

TermRates on deposit of ($1,000 - $99,999,999)
1 month1.25%
2 months1.50%
3 months4.00%
4 months3.70%
6 months4.50%
9 months4.00%
1 year4.70%
2 years3.90%
3 years3.80%

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.

How to apply

If you'd like to apply for this term deposit or just get more information, follow the application process to speak to an Horizon Bank mortgage specialist.