Savings account vs term deposit
Horizon Bank Super Savers vs term deposit
vs
Compare on
Interest over 1 year on $50,000
$2,625
5.25% a year, conditions met
$2,550
5.10% a year · paid at maturity
Over 1 year on $50,000, Horizon Bank Super Savers pays $2,625 with its conditions met; Horizon Bank's 12-month term deposit pays $2,550.
Worked out on $50,000 until you pick a balance
Horizon BankSUPER SAVERS
Horizon BankTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,625
with its conditions met
+$75 · More interest over the term
$2,550
paid at maturity
Interest over 1 year without meeting the conditions
on $50,000
$1,125
at the base rate
$2,550
no monthly conditions
Rate over the term
a year, on $50,000
5.25%
with its conditions met
+0.15 · Higher rate over the term
5.10%
fixed for the term
Asked of you each month
- A deposit of at least $2
- No withdrawals
Nothing
the money stays put
Getting the money out
Any time
a withdrawal can cost that month’s bonus
Locked for 1 year
31 days’ notice to break it early, usually at a lower rate
Can the rate change?
Yes, at any time
the bank sets it
No
fixed for 1 year
Minimum to open
None
$1,000
Who can open it
Anyone under 13
Anyone
How they differ
- A savings rate can change at any time. Horizon Bank Super Savers's figure holds today's rate for 1 year.
- A term deposit's rate is fixed for the term, but the money is locked in: breaking it early needs 31 days' notice and usually costs some of the interest.
- Both are covered by the Financial Claims Scheme, up to $250,000 per person at each bank. Money in both at Horizon Bank shares that one $250,000.
Horizon Bank Term Deposit at every term
The rate the balance above gets at each term, and the interest it pays over that term.
1 monthPaid at maturity2.00%$83
2 monthsPaid at maturity2.00%$167
4 monthsPaid at maturity4.80%$800
9 monthsPaid at maturity5.00%$1,875
1 yearPaid at maturity5.10%$2,550
3 yearsPaid annually4.50%$6,750
As of 2 November 2026, over 1 year on $50,000, Horizon Bank Super Savers pays $2,625 with its monthly conditions met; Horizon Bank's 12-month term deposit pays $2,550 at 5.10%. Figures are the bank's published rates, worked out on the balance above as simple interest. Each row says which figure is higher; it doesn't say which one suits you.