April 2015

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Another month of significant cuts to term deposits with every one of the big four banks making some reductions to their rates. Both ANZ and Westpac also decided to sneak a few rate rises in within the raft of cuts. Almost every other bank made cuts of varying sizes. In spite of this, the best rates on offer across all terms remained unchanged. Overall the average level of term deposits, however, fell over the month as can be seen in the chart on the right.

term deposit

TERM DEPOSITS 250k to $1m+

Institution 1 m nom2 m nom3 m nom4 m nom5 m nom6 mth nom9 mth nom1 y2 y3 y4 y5 y
ANZAa22.152.152.35↓2.35↑2.152.40↓2.152.50↓2.60↓2.652.72.90↓
CBAAa22.252.252.252.45↓2.252.252.252.60↓2.70↓2.82.90↓3.00↓
NABAa22.252.252.45↓2.252.252.50↓2.32.72.82.852.93
WestpacAa22.252.252.252.45↓2.252.50↑2.252.60↓2.65↓2.65↓2.70↓3.10↓
ADCUn/a2.95↓2.95↓2.95↓3.10↓3.13.153.3
AMP BankA22.62.63.252.72.73.43.43.43.13.23.23.2
Arab Bank AustraliaBB+ ^2.52.752.95↓2.95↓2.75↓3.12.95↓3.00↓3.05↓3.13.23.3
Bank of MelbourneAa22.252.252.252.62.252.252.252.72.752.752.83.2
bankmecun/a2.80↓2.80↓2.80↓2.80↓2.80↓3.00↓3.10↓3.20↓
BankSAAa22.252.252.252.62.252.252.252.72.752.752.83.2
Bank of Baroda AustraliaBaa33.43.43.43.553.553.553.653.73.83.94.054.1
BankwestAa22.252.252.90↓2.80↑2.252.70↓2.252.90↓3.13.153.253.15↓
Bank of Sydneyn/a333.00↓3.00↓2.83.00↓2.73
BankVicn/a2.92.752.752.752.753.053.20↓3.35↓3.45↓3.55↓
Beyond Bankn/a2.82.82.82.90↓2.95↓3.10↓3.20↓3.20↓
Bendigo BankA222.552.62.52.252.752.552.82.933.13.2
BOQA32.52.72.72.852.90↑2.90↓2.90↓3.00↓3.05↓3.10↓3.20↓
CitibankA31.29↓1.331.37↑1.64↓1.671.68↓1.90↑1.86↑1.64↑1.65↑1.73↑1.73↑
CUABBB+^2.32.552.82.93.10↓3.00↓3.053.00↓3.10↓3.20↓
Defence BankBBB+^2.852.953.053.053.2
Delphi Bankn/a2.052.552.62.552.852.552.852.933.13.2
Greater Building SocietyBBB^2.252.252.82.90↓2.90↓2.90↑2.82.83.23.33.43.5
Heritage BankA32.85↓2.90↓3.05↓2.90↓2.90↓32.90↓3.00↓3.10↓3.253.353.5
Horizon Credit Unionn/a2.252.252.50↓2.50↓2.50↓2.50↓2.60↓2.70↓2.80↓
HSBCA122.252.55↓2.252.55↓2.252.252.40↓2.62.72.73
IMBBBB^2.252.252.252.252.252.252.252.252.933.13.2
ING DIRECTA22.70↓2.70↓2.90↓2.70↓2.90↓3.20↓
Investec Bank AustraliaBa12.50↓2.853.05↓2.933.01↑3.10↑3.21↑3.32↑
Macquarie BankA22.25↓2.80↓2.75↓2.75↓2.75↓2.75↓2.80↓2.80↓2.85↓
ME BankA32.652.65333333.33.353.43.53.6
Newcastle PermanentA22.32.32.82.62.62.72.62.7
People's Choice Crdt Unnn/a2.75↓2.75↓2.75↓2.75↓2.75↓2.75↓2.90↓3.00↓3.00↓3.10↓3.10↓
Police BankBBB+^2.833.00↓
P&N Bankn/a2.752.90↓2.852.85333.05↓3.23.353.353.35
QT Mutual BankBBB+^2.80↓2.80↓3.00↓2.80↓2.80↓333.00↓3.10↓3.15↓
Rabobank AustraliaAa21.51.92.652.251.92.652.62.72.8533.23.4
RaboDirectAa22.55↓2.80↓2.90↓2.80↓2.90↓3.00↓3.15↓3.20↓3.50↓
Rural Bank LimitedA2222.7222.82.252.852.953.053.153.25
St.Grge Bank - Except VICAa22.252.252.252.62.252.252.252.72.752.752.83.2
Suncorp BankA22.32.42.95↑2.92.40↓2.95↓2.95↓33.13.13.20↓3.25↓
Teachers Mutual BankBBB+^3333.13.153.33.33.35
The Capricorniann/a2.93.053.2
UBankAa22.352.76↓2.76↓2.86↓2.76↓2.91↓
Victoria Tchrs Mtual BankBaa12.32.32.80↓2.80↓2.90↓2.90↓3.00↓3.05↓3.10↓3.15↓3.25↓
*For comparison purposes rates to 1y are paid at maturity. Rates longer than 1y are paid annually. Rates are checked each day on company websites and rate sheets. Arrows show rates that have changed in the month.