25 Jul – 29 Jul 2016

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

It was another week in which little altered in the interest rates being offered by deposit–taking institutions. Most changes were in the form of 5bps to 10 bps reductions with the odd 15bps cut thrown in. However, in any given week there is usually one rate rise or fall which stands out and this week is no different. ME Bank, so often a source of term deposit rate movements, reduced the rate on its 4 month term by 60bps. While larger moves have happened, 60bps is certainly up there. ME also reduced rates on its 9month, 2 year and 5 years term as well but by a more normal 10bps.

CUA made announced a few reductions; its 9 month rate was cut by 10bps while 2 year and 3 year rates were reduced by 15bps. IMB also reduced its 1 year term by 10bps and Rabobank cut its 1mont, 2 month, 4 month and 5 months rates by 5bps.

RaboDirect is offering the highest 5 year rate of 3.30%, although the rate which stands out from the pack is the 3.10% offered by Arab Bank Australia.

See our tables below for any other changes, as well as all the latest rates and terms which are available.

deposit-29jul

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
ANZ1.651.651.901.651.651.951.652.052.352.402.452.65
CBA1.902.002.352.002.002.002.002.452.602.702.802.90
NAB1.752.002.252.002.002.352.052.402.652.702.753.00
Westpac2.002.002.352.002.002.402.002.452.652.652.703.10
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 Melbourne2.002.002.402.002.002.452.002.452.702.752.803.10
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 Australia2.802.802.852.852.853.003.003.103.153.203.203.25
Bankwest1.751.752.901.751.752.901.752.852.752.752.802.80
Bank of Sydney2.152.152.352.402.052.452.802.65
BankVic2.302.152.152.152.152.452.702.802.853.10
Beyond Bank2.402.602.502.602.602.752.902.90
Bendigo Bank1.502.302.402.001.752.552.552.602.752.903.003.10
BOQ2.002.002.752.002.002.852.652.752.602.652.65
Citibank0.890.941.021.271.271.271.521.531.221.141.030.94
CUA1.751.952.152.602.352.803.002.802.902.95
Defence Bank2.402.352.452.452.75
Delphi Bank2.052.452.502.452.602.452.752.852.903.003.20
Greater Building Society1.751.752.702.452.652.752.502.503.003.103.103.10
Heritage Bank2.402.502.703.002.602.802.652.852.852.902.952.95
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
IMB2.352.402.402.602.752.903.10
ING DIRECT2.202.402.602.402.502.70
Investec Bank Australia2.352.752.852.652.752.622.632.662.70
Macquarie Bank1.852.652.602.602.602.602.502.502.50
ME (formerly ME Bank)2.302.302.402.502.502.902.902.902.903.003.003.00
Newcastle Permanent2.002.002.702.002.002.502.502.502.702.802.903.10
People's Choice Cr Union2.202.602.703.002.802.802.903.002.903.053.10
Police Bank2.652.702.85
P&N Bank2.503.002.802.652.902.702.903.003.103.103.10
QT Mutual Bank2.252.252.752.252.252.852.852.852.952.953.053.15
Rabobank Australia1.151.602.302.001.702.352.302.352.753.003.003.20
RaboDirect2.202.552.652.652.702.903.003.053.30
Rural Bank Limited2.002.002.652.002.002.652.752.752.802.802.803.10
St.George Bank - Ex VIC2.002.002.402.002.002.452.002.452.702.752.803.10
Suncorp Bank2.002.102.302.702.402.752.702.752.802.852.902.95
Teachers Mutual Bank2.552.552.652.652.652.802.852.85
The Capricornian2.202.302.50
UBank2.203.012.813.012.812.86
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.