News

Following the Reserve Bank of Australia’s recent decision to increase the official cash rate by 0.25%, Horizon Bank has completed a review of interest rates across our lending and deposit products. We understand that ongoing interest rate increases continue to place pressure on household budgets, particularly for members with home loans. As a customer-owned bank, Horizon Bank carefully balances the needs of both borrowers and savers while ensuring we remain financially strong and sustainable so we can continue supporting our members and communities into the future. Changes to Variable Rate Loans From Friday 22 May 2026, Horizon Bank will increase interest rates by 0.25% p.a. on eligible variable rate home and personal loans. What this means for borrowers When the rate changesYour interest rate will change from Friday 22 May 2026. When repayments changeYour new minimum repayment amount will apply from your next repayment cycle after 22 June 2026. What you may need to doIf you have automatic transfers set up from another financial institution, you may need to review and adjust them to ensure your new minimum repayment is met. Where to find your detailsYour updated interest rate, minimum repayment amount and due date will be available in Internet Banking and the Horizon Bank App. All members impacted by this change will receive written notification with details specific to their loan. Changes to Deposit Interest Rates As part of our review, we will also increase interest rates on selected deposit products, recognising the loyalty of members who continue to save and invest with Horizon Bank. Some deposit products will have updated rates effective from Friday 22 May 2026, while others will change from Monday 1 June 2026. Updated rates will be available on the Horizon Bank website from the relevant effective dates. Do I need to do anything? BorrowersIf you have automatic repayments set up, particularly from another financial institution, you may need to review and adjust your repayment amount to ensure you continue to meet the new minimum repayment. DepositorsNo action is required. Updated rates will apply automatically from the effective dates.   We’re here to help If you have any questions about these changes, or if you are concerned about managing your repayments, please get in touch with us as early as possible so we can discuss the support options available. Visit your local branch to speak with one of our lending specialists, or call us on 1300 366 565.

Goodbye transaction fees! We’re making everyday banking simpler and more affordable for our members. From 1 November, Horizon Bank has removed everyday transaction fees across a range of services, so you can keep more of your money for the things that matter to you. From taking out cash to paying your bills, everyday banking with Horizon is now fee free. This includes: ATM withdrawals* Balance enquiries EFTPOS purchases BPAY payments Direct debits In-branch transactions** These changes reflect our commitment to fair, community-focused banking. We know that small fees can add up over time, especially for anyone keeping a close eye on their budget. Removing them is just one way we are making banking easier for our members. You don’t need to do a thing for these changes to take effect. The updates apply automatically to all eligible Horizon Bank accounts, so you can enjoy fee-free banking straight away. As a bank run for locals by locals, everything we do is about supporting the people and communities we serve. Fee-free everyday banking is just another reason to speak with your friendly local Horizon team. If you have questions or want to learn more about how these changes benefit you, visit your nearest branch or get in touch with us online. *ATM transactions are fee-free when using ATMX and most major Australian bank ATMs. ATM fees may still be charged by private owners. **Fees may apply in circumstances such as large cash withdrawals or coin deposits, speak to your branch for further details or see our Fees & Charges brochure. For full terms and conditions visit our Disclosure documents.