May 2015

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As with cash accounts, as soon as the RBA cut the cash rate banks started to trim their term deposit rates. The chart on the right shows the general fall in the average level of TDs across all terms. There is still a standout rate on offer from MEBank for a 180day TD at 3.50%, which is far above most other equivalent rates.

td-may2015

TERM DEPOSITS 250k to $1m+

Institution 1 m nom2 m nom3 m nom4 m nom5 m nom6 m nom 9 m nom 1 y2 y3 y4 y5 y
ANZAa21.90↓1.90↓2.351.90
1.90
2.41.90
2.52.62.652.72.9
CBAAa22.00↓2.00↓2.00
2.00
2.00
2.00
2.00
2.62.72.82.93
NABAa22.00↓2.00↓2.452.00
2.00
2.52.05
2.60
2.65
2.70
2.75
3
WestpacAa22.252.252.252.452.252.52.252.62.652.652.73.1
ADCUn/a2.70
2.70
2.70
2.80
2.80
2.85
3.00
AMP BankA22.25↓2.35↓2.75↓2.55↓2.55↓2.75↓2.75↓2.75↓2.90↓2.90↓2.95↓3.00↓
Arab Bank AustraliaBB+ ^2.25↓2.50↓2.70↓2.75↓2.752.90↓2.90↓33.053.13.23.3
Bank of MelbourneAa22.252.252.252.62.252.252.252.72.752.752.83.2
bankmecun/a2.82.82.82.82.833.13.2
BankSAAa22.252.252.252.62.252.252.252.72.752.752.83.2
Bank of Baroda AustraliaBaa32.95↓2.95↓2.95↓3.00↓3.00↓3.10↓3.10↓3.15↓3.20↓3.25↓3.25↓3.30↓
BankwestAa22.00↓2.00↓2.00↓3.002.00↓2.72.00↓2.92.90↓3.00↓3.10↓3.15
Bank of Sydneyn/a2.65↓2.65↓2.75↓2.75↓2.30↓2.70↓2.25↓2.70↓
BankVicn/a2.65↓2.50↓2.50↓2.50↓2.50↓2.80↓2.90↓3.00↓3.10↓3.20↓
Beyond Bankn/a2.70↓2.70↓2.852.70↓2.85↓3.00↓3.10↓3.10↓
Bendigo BankA222.45↓2.50↓2.40↓2.252.65↓2.40↓2.70↓2.75↓2.80↓2.90↓3.10↓
BOQA32.52.72.72.852.92.92.933.053.13.2
CitibankA31.09↓1.20↓1.27↓1.55↓1.59↓1.64↓1.71↓1.80↓1.56↓1.59↓1.69↓1.71↓
CUABBB+^2.20↓2.40↓2.70↓2.80↓2.95↓2.85↓2.85↓2.95↓3.00↓3.10↓
Defence BankBBB+^2.50↓2.60↓2.70↓2.70↓2.85↓
Delphi Bankn/a2.052.552.62.552.65↓2.45↓2.75↓2.75↓2.80↓2.90↓3.10↓
Greater Building SocietyBBB^2.00↓2.00↓2.82.80↓2.80↓2.80↓2.82.83.23.33.43.5
Heritage BankA32.65↓2.70↓2.85↓3.002.70↓2.80↓2.70↓2.80↓2.90↓3.05↓3.15↓3.30↓
Horizon Credit Unionn/a2.00↓2.00↓2.40↓2.40↓2.40↓2.52.62.72.8
HSBCA11.90↓2.15↓2.45↓2.15↓2.15↓2.452.15↓2.30↓2.40↓2.50↓2.72.75↓
IMBBBB^2.00↓2.00↓2.00↓2.00↓2.00↓2.00↓2.00↓2.00↓3.0533.13.2
ING DIRECTA22.72.72.92.72.93.2
Investec Bank AustraliaBa12.35↓2.852.90↓2.85↓33.063.23.363.52
Macquarie BankA22.15↓2.75↓2.70↓2.752.802.852.902.902.90
ME BankA32.50↓2.50↓2.80↓2.80↓2.80↓3.502.80↓3.00↓3.10↓3.20↓3.20↓3.20↓
Newcastle PermanentA22.32.33.102.62.63.103.003.00
People's Choice Crdt Unnn/a2.752.752.752.752.752.752.9333.13.1
Police BankBBB+^2.70↓2.90↓2.90↓
P&N Bankn/a2.65↓2.8↓2.75↓2.75↓2.85↓2.85↓2.90↓3.00↓3.10↓3.10↓3.10↓
QT Mutual BankBBB+^2.65↓2.75↓2.85↓2.50↓2.50↓2.85↓2.80↓2.95↓3.05↓3.10↓
Rabobank AustraliaAa21.51.92.652.251.92.652.62.72.8533.23.4
RaboDirectAa22.552.82.92.82.933.153.23.5
Rural Bank LimitedA2222.50↓222.65↓2.252.70↓2.75↓2.80↓2.90↓3.10↓
St.Grge Bank - Except VICAa22.252.252.252.62.252.252.252.72.752.752.83.2
Suncorp BankA22.20↓2.30↓2.55↓2.60↓2.42.65↓2.65↓33.13.13.23.25
Teachers Mutual BankBBB+^3333.13.153.33.33.35
The Capricorniann/a2.40↓2.50↓2.70↓
UBankAa22.352.762.762.862.763.05
Victoria Tchrs Mtual BankBaa12.05↓2.05↓2.65↓2.65↓2.75↓2.75↓2.85↓2.90↓2.95↓3.00↓3.10↓
*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.