Compare Horizon Credit Union savings accounts

For over 50 years, Horizon Credit Union has been growing in numbers and products offered through mergers with other member owned financial institutions. As a result, they are now able to offer savings and transaction accounts to all Australians regardless of where they live or work.

Rates last updated October 18th, 2019
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Rabobank Online Savings High Interest Savings Account
$0 / $0
Maximum variable rate of 2.50% p.a. for 4 months, reverting to a rate of 1.05% p.a. No deposit or withdrawal conditions. Available on balances below $250,000
UBank USaver
2019 Winner
UBank USaver
$0 / $0
Ongoing, variable 2.10% p.a. when you link your USaver account to a UBank Ultra transaction account and transfer at least $200 per month into either account. The linked transaction account has no monthly fees and no international fees. Bonus interest available on balances up to $200,000.
HSBC Flexi Saver Account
$0 / $0
Ongoing, variable 2.15% p.a. when you grow your balance by $300+ per month. Earn bonus interest even if you make withdrawals during the month. Available on balances up to $5,000,000.
MyState Bank Bonus Saver Account
$0 / $0
Ongoing, variable 2.50% p.a. when you deposit at least $20 into the account each month and make five or more Visa Debit card transactions from a linked MyState transaction account.
Suncorp Growth Saver Account
$0 / $0
Ongoing, variable 2.05% p.a. when you grow your balance by at least $200 (excluding interest) and make no more than one withdrawal in the month. Available on the entire balance.

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What is next?

  • Money Magazine’s Best of the Best Award – Gold Medal winner in the Personal Lender category in 2015, 2013 and 2012.

Who is Horizon Credit Union?

From a baby’s first breath to your retirement years, Horizon Credit Union can help you save for any milestone. Accounts feature 24/7 access, low maintenance fees, and interest rates that are comparable to what the bigger banks offer. Whether your financial goal is right around the corner, or years into the future, you will find an account that can help you to meet it.

What is internet banking like for Horizon Credit Union?

You are not charged to sign up for HandyNet, Horizon Credit Union’s online banking service, or for accessing it to make transactions. Available around the clock, you have complete control over your finances whenever you need it. HandyNet can also be accessed from your smartphone, giving you a slightly cut down version of the service.

You will need to register first in order to bank through HandyNet, but once your application has been processed you will have access to the various banking features that it offers around the clock.

Notable features include:

  • Access to your accounts at anytime from anywhere
  • Transfer money between your accounts
  • View and pay your bills using BPAY

What about the mobile app?

Image Source: App Store
Login Page Accounts Payments
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What transaction accounts are offered by Horizon Credit Union?

  • Redisavings. Giving you a wide range of access options, the Redisavings transaction account can help you manage your day to day banking. You are given a choice between a rediCARD or Visa debit card for ATM withdrawals, plus cheque and branch banking when you need it.
  • Advantage 55. A specialised transaction account for retirees and pensioners, the Advantage 55 also pays interest on your balance in accordance with the Government deeming rates. If eligible you can also attach an overdraft facility to help manage your spending.
  • Advantage. Maintain a minimum monthly balance requirement and you will not have to pay any transactions fees or a monthly account keeping fee with the Advantage Account. If you qualify you can also bank for free with a linked Visa debit card.
  • Community Support Account. Designed to meet the needs of non-profit organisations, this account provides a number of internal transactions for free and will allow you to earn extra interest on a term deposit.
  • Teen Saver. Australians between the ages of 13 and 17 can have access to their money through ATMs, while still earning interest on the daily balance. Horizon Credit Union also offers account holders discount vouchers for special items and activities that are of interest to teenagers.

What high interest savings accounts are offered by Horizon Credit Union?

  • Reward Saver. Not only are you rewarded with bonus interest each month you meet deposit requirements, new account holders are also given an introductory bonus rate for a fixed period of time.
  • Horizon Direct. An online savings account that pays a premium rate of interest without you having to meet any terms, or lock your money into the account. Access is available online only, necessitating a linked account to make transfers through.
  • Special Purpose Savings. An account apart from your transaction account that allows you to keep money budgeted for special expenses on the side. There is no ATM access with this account to help ensure you have the money you need when you need it.
  • Cash Management. This account is meant for when you have a large sum of money to save, but don’t want to commit to a term deposit. The interest rate applied to your balance is competitive, yet the money in your account is still available at call.
  • Christmas Club. Directly deposit a small portion of your salary each week starting in January, and have enough funds by the holiday season to stay out of debt from your Christmas shopping. Your balance is locked away for most of the year, earning a competitive rate of interest.
  • SMSF Saver. An account designed to hold your SMSF excess while waiting for an investment opportunity. Your money remains at call and can be accessed online, in a branch or over the phone.
  • Super Saver. An account for members up to 12 years old, children can earn a bonus rate monthly by making a deposit without any withdrawals. Horizon Credit Union also gives gifts to kids as they meet their savings goals.
  • Youth Reward Saver. Teenagers earn bonus interest to help meet their savings goals each month that they meet the depository requirements. Funds are still available at call, and can be accessed at any time online.

What term deposits are offered by Horizon Credit Union?

With a minimum balance requirement of $500 you are able to take advantage of the higher rates paid with a term deposit account. Your return is guaranteed by the fixed interest rate, and you can choose to invest from one month up to three years. Payment options include annual interest payments into a separate account or a one-time payment at maturity.

What are the pros and cons of banking with Horizon Credit Union?


  • Bonus rates. Many accounts offer bonus interest with easy to meet terms to qualify.
  • Fees. You are able to keep transaction fees to a minimum by using online banking.
  • Term deposit. The low opening balance requirement allows for more members to take advantage of a term deposit.
  • ATM access. Horizon Credit Union uses the rediATM network to provide instant access to your money at thousands of ATMs around Australia.


  • Membership. You must apply for membership into the credit union before being able to open an account with them. This requires filling out an online application form and paying a $2 shareholder fee.
  • Branch access. There are a limited number of branches available if you prefer to bank face to face.

How do I apply for a Horizon Credit Union account?

You can visit a branch or give them a call if you would like to open one of Horizon Credit Union’s savings accounts or you can apply online. You will need to apply for membership first before being prompted to an account application. The depository and age requirements will differ depending on the account that you are applying for, but all require that you be an Australian resident. Have your photo identification documents readily available along with your tax file number (TFN) or exemption code if you want to ensure that the correct withholding tax is being deducted from any interest earnings.

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