Finty
Horizon Bank

Horizon Bank Budget Personal Loan

Variable rate

Use Budget Personal Loan to consolidate debt, purchase new appliances, go on holidays or achieve another financial goal. Benefit from competitive variable interest rates, flexible repayment & more

Written byDavid Boyd
Interest rate a year, from
9.99%
Comparison rate, from
10.13%
Establishment fee
$100
Monthly fee
Not published
Borrow
$500 to $30,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 9.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$645
Total repayments
$23,229
Interest
$3,229

Loan details

Rates

Interest rate (a year)
9.99%
Comparison rate (a year)
10.13%
Rate type
Variable
Security
Not published

Limits and fees

Loan amount
$500 to $30,000
Loan term
Not published
Establishment fee
$100
Monthly fee
Not published

How it compares

Against the other personal loans we compare. Typical means the middle half of them.

Comparison rate

10.13%

From 10.13%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$5,591

Interest and fees at its starting rate. Typical is $5,513.

Setup fee

$100

A typical setup fee is $150.

Most you can borrow

$30,000

Typically you can borrow up to $60,000.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 9.99%, so the rate you see is the rate you get.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A lower limit. Up to $30,000, less than the typical $60,000, so it may not cover a larger purchase.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Similar loans

Personal loans from other lenders that start at a similar comparison rate.