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- Horizon Bank
- 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
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
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.