22 Aug – 26 Aug 2016

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Last week two of the major banks raised rates for a select range of terms of 1 year and over. This week one of them went in the other direction and reduced a range of short-term rates. NAB reduced rates on all terms from 1 month to 9 months by between 15bps and 25bps and it also reduced its 5 year rate by 20bps.

Among the smaller institutions almost all of the changes were in the form of rate reductions so the increases found would have stood out even if they were not sizeable amounts. BankWest reduced rates on most terms but for some reason decided to raise the rate on its 4 month term by 95bps, which is not an increase one sees often. At the same time it reduced its 3 month rate by 70bps which is also well outside the usual range. Other rates on most terms from 1 month to 9 months were reduced by 25bps while rates on terms from 1 year to 5 years fell by 15bps.

Newcastle Permanent also made one positive change and it increased its 4 year rate by 30bps rates but rates on terms from 3 months to 1 year were cut by 10bps. Heritage Bank reduced rates across the board by 10bps and UBank made some 9bps-20bps reductions on various terms under 9 months and less.

See our tables below for all these changes and others made by the other deposit-taking institutions in the YieldReport survey, as well as all the latest rates and terms which are available.

TDs 160829

TERM DEPOSITS 250K TO $1M+

Institution1 m
nom
2 m
nom
3 m
nom
4 m
nom
5 m
nom
6 m
nom
9 m
nom
1
Year
2
Year
3
Year
4
Year
5
Year
ANZ1.401.401.651.401.401.701.401.802.102.152.202.40
CBA1.902.002.102.002.002.002.003.003.103.202.802.90
NAB1.501.752.101.751.752.151.802.403.103.202.752.80
Westpac2.002.002.352.002.002.402.003.003.103.202.703.10
ADCU2.602.602.602.702.702.752.90
AMP Bank2.052.152.752.452.452.852.752.802.552.552.752.80
Arab Bank Australia2.002.253.102.902.902.902.852.852.902.953.003.10
Bank of Melbourne2.002.002.402.002.002.452.003.003.103.202.803.10
Bank Australia2.552.552.552.552.552.752.852.95
BankSA2.002.002.402.002.002.452.002.452.702.752.803.10
Bank of Baroda Australia2.752.752.802.802.802.952.953.053.053.103.103.25
Bankwest1.501.502.302.701.502.701.503.002.602.602.652.65
Bank of Sydney1.901.902.102.151.802.202.552.40
BankVic2.302.002.002.402.002.603.003.003.003.00
Beyond Bank2.402.502.502.702.802.903.003.00
Bendigo Bank1.251.902.301.901.652.452.452.602.752.903.003.10
BOQ1.751.752.602.002.002.702.503.053.153.252.522.57
Citibank0.700.800.871.131.131.131.391.401.101.030.920.84
CUA1.501.952.152.502.352.702.852.702.802.80
Defence Bank2.402.352.452.452.75
Delphi Bank1.902.302.352.302.302.552.302.572.722.762.863.06
Greater Building Society1.751.752.702.452.652.752.502.502.902.902.902.90
Heritage Bank2.302.402.602.902.502.702.552.752.752.802.852.85
Horizon Credit Union1.901.902.102.102.202.302.602.702.80
HSBC1.651.752.001.751.752.051.752.052.152.252.252.25
IMB2.352.403.002.602.752.803.00
ING DIRECT2.102.302.602.403.052.70
Investec Bank Australia1.752.602.702.503.053.153.252.512.55
Macquarie Bank1.852.552.502.602.752.552.402.402.40
ME (formerly ME Bank)2.302.302.402.502.503.002.903.002.903.003.003.00
Newcastle Permanent2.002.002.701.901.902.402.402.903.103.203.203.10
People's Choice Cr Union2.202.602.703.002.802.803.003.203.203.053.10
Police Bank2.502.702.85
P&N Bank2.252.752.552.402.652.452.802.903.003.003.00
QT Mutual Bank2.252.252.652.252.252.852.852.852.952.953.053.15
Rabobank Australia1.001.502.201.851.552.302.252.252.602.803.003.20
RaboDirect2.002.402.652.652.702.903.003.053.30
Rural Bank Limited1.751.752.651.751.752.652.002.752.802.802.803.10
St.George Bank - Ex VIC2.002.002.402.002.002.452.003.003.103.202.803.10
Suncorp Bank1.751.852.252.052.152.702.453.003.102.602.652.70
Teachers Mutual Bank2.552.552.652.652.652.802.852.85
The Capricornian2.202.302.85
UBank2.002.812.712.812.812.91
Victoria Tchrs Mtual Bank1.801.802.802.802.852.852.952.952.953.003.10
*For comparison purposes rates to 1y are paid at maturity. Rates longer than 1 year are paid annually. Rates are checked each day on company websites and rate sheets. Arrows show rates that have changed in the week.