Horizon Credit Union Ltd, trading as Horizon Bank · Customer-owned bank
Horizon Bank's best ongoing savings rate is 3.25% p.a. on Horizon Direct. Its best term deposit pays 5.10% p.a. for 12 months on $1,000 or more.
Verified 4 Nov 2026
Horizon Direct
Reward Saver, then 0.00% p.a.
Interest paid at maturity
For new term deposits
Financial Claims Scheme
In our credit card catalog
Type any amount and pick an account. Estimates are before tax and assume the rate stays the same.
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Account
Fixed for the term. From $1,000.
Interest over 12 months
$1,275
5.10% p.a., interest paid at maturity.
That is $125 less than the best 12-month term deposit in Australia would pay on the same amount.
Every rate is variable. Bonus rates show as the total you earn, with the base and bonus parts underneath.
Savings account, no monthly conditions
Any age
3.25%p.a.
No monthly conditions
Horizon Direct is Horizon Bank's online savings account that attracts a higher interest rate than a normal savings account, because you manage it online without branch assistance or branch access.
Savings account, no monthly conditions
18 or older
0.50%p.a.
Intro rate for 3 months, then 0.00% p.a.
The Reward Saver account rewards you for saving.
Bonus savings account
Under 13
5.50%p.a.
2.50% base + 3.00% bonus
An everyday account for children aged 0-12 years.
Bonus savings account
13 to 17
5.50%p.a.
2.50% base + 3.00% bonus
High interest savings account for youths aged 13-17 years.
Savings for under 18s
13 to 18
4.25%p.a.
No monthly conditions
A flexible everyday account for teenagers aged 13-17 years that s easily managed with no transaction fees.
For retirees and pensioners
55 or older
2.00%p.a.
No monthly conditions
Horizon Bank's most popular everyday transaction account for customers aged 55 and over, featuring a wide range of account access options.
| Term | $1,000 to $9,999,999 |
|---|---|
| 1 month | 2.00% |
| 2 months | 2.00% |
| 3 months | 4.60% |
| 4 months | 4.80% |
| 6 months | 4.90% |
| 9 months | 5.00% |
| 12 monthsBest rate | 5.10% |
| 2 years | 4.90% |
| 3 years | 4.50% |
Interest paid at maturity. New term deposits start at $1,000.
Every bank we track in Australia, ranked by its best ongoing savings rate, with its 12-month term deposit. Verified 4 Nov 2026.
| # | Bank | Top savings rate | 12-month term deposit |
|---|---|---|---|
| 1 |  RACQ Bank | 6.01% p.a.Bonus Saver Account, monthly conditions | 5.35% p.a.Term Deposit |
| 2 |  MoveBank | 5.75% p.a.Growth Saver, monthly conditions | 5.35% p.a.Term Deposit |
| 3 |  ING | 5.75% p.a.Savings Maximiser, monthly conditions | 5.30% p.a.Personal Term Deposits |
| 4 |  Rabobank | 5.65% p.a.PremiumSaver, monthly conditions | 5.25% p.a.Online Term Deposit |
| 5 |  Judo Bank | 5.60% p.a.Personal Savings Account, monthly conditions | 5.45% p.a.Personal Term Deposits |
| 6 |  QBANK | 5.60% p.a.Intro Saver | 5.05% p.a.Term Deposit |
| 7 |  Up | 5.60% p.a.Up Saver, monthly conditions | Not published |
| 8 |  People First Bank | 5.55% p.a.Dream Fund, monthly conditions | 5.20% p.a.Term Deposit |
| 9 |  AMP Bank | 5.50% p.a.AMP Bank GO Save | 5.55% p.a.AMP Bank GO Term Deposit |
| 10 |  BCU Bank | 5.50% p.a.Boss Saver, monthly conditions | 5.30% p.a.Term Deposit |
| 11 |  P&N Bank | 5.50% p.a.Savvy Saver Account, monthly conditions | 5.30% p.a.Term Deposit |
| 12 |  Great Southern Bank | 5.50% p.a.Home Saver, monthly conditions | 5.10% p.a.Platinum Plus Term Deposit |
| 13 |  Bank of Melbourne | 5.40% p.a.Incentive Saver, monthly conditions | 4.75% p.a.Term Deposit |
| 14 |  BankSA | 5.40% p.a.Incentive Saver, monthly conditions | 4.75% p.a.Term Deposit |
| 15 |  St.George | 5.40% p.a.Incentive Saver, monthly conditions | 4.75% p.a.Term Deposit |
| 16 |  Bank Australia | 5.35% p.a.Bonus Saver, monthly conditions | 5.60% p.a.Term Deposit |
| 17 |  Suncorp Bank | 5.35% p.a.Growth Saver Account, monthly conditions | 5.40% p.a.Term Deposit |
| 18 |  Australian Mutual Bank | 5.35% p.a.Momentum Saver account, monthly conditions | 5.35% p.a.Term Deposit |
| 19 |  Firefighters Mutual Bank | 5.35% p.a.Momentum Saver, monthly conditions | 5.35% p.a.Term Deposit |
| 20 |  Health Professionals Bank | 5.35% p.a.Momentum Saver, monthly conditions | 5.35% p.a.Term Deposit |
| 21 |  Teachers Mutual Bank | 5.35% p.a.Momentum Saver, monthly conditions | 5.35% p.a.Term Deposit |
| 22 |  UniBank | 5.35% p.a.Momentum Saver, monthly conditions | 5.35% p.a.Term Deposit |
| 23 |  ANZ | 5.35% p.a.ANZ Plus Growth Saver, monthly conditions | 5.30% p.a.ANZ Advance Notice Term Deposit |
| 24 |  Bankwest | 5.35% p.a.Hero Saver, monthly conditions | 5.30% p.a.Bankwest Term Deposit |
| 25 |  Police Credit Union | 5.35% p.a.Focus Saver Account, monthly conditions | 4.00% p.a.Term Deposit |
| 26 |  ubank | 5.35% p.a.Save account, monthly conditions | Not published |
| 27 |  Bank First | 5.30% p.a.First Home Bonus Saver Account, monthly conditions | 5.50% p.a.Term Deposit |
| 28 |  Hume Bank | 5.30% p.a.Reward Saver, monthly conditions | 5.40% p.a.Term Deposit |
| 29 |  Bank of us | 5.30% p.a.Save up, monthly conditions | 5.30% p.a.Fixed Term Investment |
| 30 |  Defence Bank | 5.30% p.a.Max E Saver, monthly conditions | 5.30% p.a.Term Deposit |
| 31 |  Easy Street | 5.30% p.a.Flex Saver | Not published |
| 32 |  Virgin Money | 5.30% p.a.Virgin Money Boost Saver, monthly conditions | Not published |
| 33 |  Dnister Bank | 5.25% p.a.Max Saver, monthly conditions | 5.55% p.a.Term Deposit |
| 34 |  Macquarie | 5.25% p.a.Macquarie Savings Account | 5.40% p.a.Macquarie Term Deposit |
| 35 |  Bank of Sydney | 5.25% p.a.BOS Saver | 5.30% p.a.Term Deposit |
| 36 |  CommBank | 5.25% p.a.GoalSaver, monthly conditions | 5.30% p.a.Standard Term Deposit |
| 37 |  NAB | 5.25% p.a.NAB Reward Saver, monthly conditions | 5.30% p.a.NAB Term Deposit |
| 38 |  Westpac | 5.25% p.a.Westpac Life, monthly conditions | 5.30% p.a.Term Deposit |
| 39 |  MyState Bank | 5.25% p.a.Bonus Saver, monthly conditions | 5.25% p.a.Regular Term Deposit |
| 40 |  Regional Australia Bank | 5.25% p.a.Savings Booster Account, monthly conditions | 5.25% p.a.Term Savings |
| 41 |  bankWAW | 5.20% p.a.WAW Bonus Saver, monthly conditions | 5.35% p.a.Limited Offer Term Deposit |
| 42 |  Southern Cross Credit Union | 5.20% p.a.Star Saver, monthly conditions | 5.30% p.a.Term Deposit |
| 43 |  Australian Military Bank | 5.10% p.a.Online Saver, monthly conditions | 5.40% p.a.Teen Plus Term Deposit |
| 44 |  BOQ | 5.00% p.a.Simple Saver Account | 5.40% p.a.myBOQ Term Deposit |
| 45 | NPNewcastle Permanent | 5.00% p.a.Smart Saver Account, monthly conditions | 5.40% p.a.Term Deposit |
| 46 |  The Capricornian | 5.00% p.a.Bonus Saver Account, monthly conditions | 5.20% p.a.Term Deposit |
| 47 |  Bendigo Bank | 5.00% p.a.Bendigo Reward Saver, monthly conditions | 4.90% p.a.Standard Term Deposit |
| 48 |  Beyond Bank | 4.90% p.a.Purple Bonus Saver, monthly conditions | 4.90% p.a.Term Deposit |
| 49 |  Woolworths Team Bank | 4.90% p.a.Bonus Saver Account, monthly conditions | 4.00% p.a.Term Deposit |
| 50 |  Unity Bank | 4.85% p.a.Bonus Saver Account, monthly conditions | 5.50% p.a.Term Deposit |
| 51 |  Goulburn Murray Credit Union | 4.80% p.a.Advantage Saver, monthly conditions | 5.15% p.a.Fixed Term Deposit |
| 52 |  Border Bank | 4.80% p.a.Bonus Saver Account, monthly conditions | 5.00% p.a.Term Deposit |
| 53 |  Police Bank | 4.80% p.a.Bonus Saver Account, monthly conditions | 5.00% p.a.Term Deposit |
| 54 |  Summerland Bank | 4.75% p.a.Bonus Saver, monthly conditions | 5.25% p.a.Fixed Term Deposit |
| 55 |  Community First Bank | 4.60% p.a.Goal Saver, monthly conditions | 5.60% p.a.Term Deposit Special |
| 56 |  Gateway Bank | 4.60% p.a.Goal Saver, monthly conditions | 5.55% p.a.Term Deposit |
| 57 |  ME Bank | 4.60% p.a.SaveME, monthly conditions | 5.50% p.a.ME Go Term Deposit |
| 58 |  Bank Orange | 4.60% p.a.Online Saver | 5.35% p.a.Fixed Term Deposit Wealth Builder |
| 59 |  Heartland Bank | 4.55% p.a.MySavings account | 5.55% p.a.Term Deposit |
| 60 |  Queensland Country Bank | 4.55% p.a.Bonus Saver, monthly conditions | 5.30% p.a.Fixed Term Deposit |
| 61 |  BNK Bank | 4.50% p.a.Cash Management Account | 5.40% p.a.Stow It Term Deposit Account |
| 62 |  Alex Bank | 4.50% p.a.Savings | 5.30% p.a.Term Deposit - Direct |
| 63 |  Greater Bank | 4.25% p.a.Bonus Saver | 5.40% p.a.Term Investment |
| 64 |  The Mutual Bank | 4.25% p.a.Bonus Saver, monthly conditions | 5.30% p.a.Term Deposit |
| 65 |  HSBC | 4.25% p.a.Bonus Savings Account, monthly conditions | 2.90% p.a.Term Deposit |
| 66 |  Laboratories Credit Union | 4.01% p.a.Savvy Saver, monthly conditions | 4.60% p.a.Fixed Term Deposit |
| 67 |  Northern Inland Credit Union | 4.00% p.a.Bonus Saver, monthly conditions | 4.90% p.a.Term Deposit |
| 68 |  Credit Union SA | 3.75% p.a.Bonus Savings Account, monthly conditions | 5.30% p.a.Term Deposit |
| 69 |  Auswide Bank | 3.56% p.a.Bonus Plus Saver, monthly conditions | 5.25% p.a.National Seniors Term Deposit |
| 70 |  First Option Bank | 3.55% p.a.Save Account | 5.50% p.a.Fixed Term Deposit |
| 71 |  BOQ Specialist | 3.50% p.a.Private Access Account | 5.35% p.a.Term Deposit |
| 72 |  Fire Service Credit Union | 3.50% p.a.High Interest | 4.50% p.a.Fixed Term Deposit |
| 73 |  IMB Bank | 3.45% p.a.Reward Saver Account, monthly conditions | 5.30% p.a.Term Deposit |
| 74 | Horizon Bank | 3.25% p.a.Horizon Direct | 5.10% p.a.Term Deposit |
| 75 |  Darling Downs Bank | 3.15% p.a.Cash Manager Online | 5.40% p.a.Fixed Term Deposits |
| 76 |  Cairns Bank | 3.00% p.a.Online Saver account | 5.25% p.a.Term Deposit |
| 77 |  Coastline Bank | 3.00% p.a.Coastline Savings Account | 5.05% p.a.Gold Member Fixed Term Deposit |
| 78 |  Arab Bank Australia | 3.00% p.a.Personal Online Savings Account | 3.40% p.a.Fixed Term Deposit - Personal |
| 79 |  Revolut | 3.00% p.a.Revolut Instant Access Savings | Not published |
| 80 |  Geelong Bank | 2.96% p.a.iSaver, monthly conditions | 5.40% p.a.Term Deposit |
| 81 |  Transport Mutual Credit Union | 2.25% p.a.Premium Savers Account | 3.25% p.a.Term Deposit |
| 82 |  The Mac | 2.00% p.a.eSaver | 5.20% p.a.Mini Mac Term Deposit |
| 83 |  SWSbank | 2.00% p.a.Online Saver | 5.00% p.a.Term Deposit |
| 84 |  Broken Hill Bank | 1.70% p.a.eCall Savings Account | 5.00% p.a.Fixed Term Deposit |
The Australian Government's Financial Claims Scheme covers deposits at Horizon Bank up to $250,000 per account holder.
Horizon Bank savers will soon be able to report whether their bonus rate paid out each month, and ask other savers questions.
RACQ BankSavings 6.01% p.a.12-month 5.35% p.a.INGSavings 5.75% p.a.12-month 5.30% p.a.MoveBankSavings 5.75% p.a.12-month 5.35% p.a.RabobankSavings 5.65% p.a.12-month 5.25% p.a.UpSavings 5.60% p.a.12-month Not publishedJudo BankSavings 5.60% p.a.12-month 5.45% p.a.
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