29 Aug – 2 Sep 2016

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There were no changes to term deposit rates from the major banks this week.

Most of the fallout from August’s cut in the official rate has washed through and changes to term deposit rates were few and of a small magnitude in this latest week. Macquarie’s changes were the standout for the week, both in terms of size and number of terms changed. 3 month rates were reduced by 5bps, 6 month rates were reduced by 10bps, 9 month rates were reduced by 15bps and 1 month, 2 year, 3 year and 5 year rates were reduced by 20bps. Heritage Bank reduced its 4 month rate by 10bps as did Rural Bank with its 3 month rate. Most other changes were in the form of 5bps reductions made by a smattering of institutions.

 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.

160903 term deposit

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
BOQ1.751.752.602.002.002.702.503.053.153.252.472.51
Citibank0.700.800.871.121.121.121.391.391.091.020.910.83
CUA1.501.952.152.502.352.702.852.702.802.80
Defence Bank2.402.352.452.452.75
Delphi Bank1.852.252.502.252.602.352.752.752.903.003.10
Greater Building Society1.751.752.702.452.652.752.502.502.902.902.902.90
Heritage Bank2.302.402.602.802.502.702.552.752.752.802.852.85
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 Bank1.652.502.502.502.602.552.202.202.20
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 Bank2.252.702.552.402.652.452.802.903.003.003.00
QT Mutual Bank2.252.252.652.252.252.852.852.852.952.953.053.15
Rabobank Australia1.001.502.201.851.602.302.252.252.602.803.003.20
RaboDirect2.002.402.652.652.702.903.003.053.30
Rural Bank Limited1.751.752.551.751.752.602.002.752.802.802.803.10
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.