Horizon Bank - Personal Loan Secured by Deposit Security Agreement of Savings
Secured | Variable
The Horizon Bank Personal Loan Secured by Deposit Security Agreement of Savings has an advertised interest rate from 6.29% p.a. with a loan type of Secured. The comparison rates start from 6.50% p.a. and the borrowing range will be from $500, with a loan repayment term of between 1 and 5 years. The Personal Loan Secured by Deposit Security Agreement of Savings will be a Variable rate loan.
More details about the Horizon Bank Personal Loan Secured by Deposit Security Agreement of Savings can be found below or visit Horizon Bank to learn more or apply.
The loan type will be Secured with a comparison rate of 6.50% p.a. and an advertised rate of 6.29% p.a.
Advertised Rate
6.29% p.a. Variable
Comparison Rate
6.50% p.a.
Loan Term
1 to 5 years
Borrowing Range
$500
Interest
Rate Type
Variable
Advertised Rate
6.29% p.a.
Variable
Comparison Rate
6.50% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Savings or term deposit
Loan Terms
Loan Term
1 to 5
years
Borrowing Range
$500
Repayment
Fortnightly, Weekly, Monthly
Features
Extra Repayments Allowed
Yes
Redraw Available
Yes
Fees
Establishment Fee
$250
one off
Loan Service Fee
$0
per month
Early Repayment Fee
$0
per event
Who is the product designed for?
The retail clients for whom this product has been designed are individuals who:
- Require a personal loan and do not wish to use their savings for the purchase but will instead use their savings to secure the loan.
- Prefer to use savings to secure a personal loan and receive lower rate for a secured personal loan
- Meets Horizon credit assessment criteria
- The consumer requires a variable rate personal loan and doesn’t wish to use their savings. Savings used to secure the loan
- Minimum age of 18yrs
- Be a resident of Australia
Visit Horizon Bank to view Target Market Determination Effective From: 2024-10-01.
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