20 Jun – 24 Jun 2016

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The major banks are not known for making many changes to their term deposit rates but this was a week in which unusual things occurred and one of them was a 25bps reduction by NAB on its 1 month rate.

Most rate changes by the smaller institutions were fairly run-of-the mill but a couple stood out.

CUA reduced its 2 year and 3 year rates by 5bps but increased its 9 month term rate by a whopping 75bps. Newcastle Permanent, an ADI which seems to have had quite a few mentions here in recent times, reduced rates on terms of 3 months, 4 months, 5 months, 3 years by 10bps, as well as reducing its 4 year rate by 30bps and its 5 year rate by 20bps. ING Direct reduced its 6 month and 1 year rates by 20bps. Bank Vic went against the herd and increased rates on terms from 1 year to 4 years by 10bps and it rate on a 5 year term by 25bps

Newcastle Permanent has lost the mantle for highest term deposit rate after its recent adjustments and now RaboDirect is offering the highest 5 year rate of 3.30%, which coincidentally is the highest rate available for a 6 month term deposit offered by ME Banks.

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

term-deposits-jun24

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 Bank2.052.152.752.452.453.002.752.902.552.552.752.80
Arab Bank Australia2.002.252.702.902.902.902.852.852.902.953.003.10
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
Citibank0.941.041.151.391.391.381.651.671.381.331.241.18
CUA1.751.952.152.602.352.803.102.803.053.10
Defence Bank2.402.352.452.452.75
Delphi Bank2.052.452.502.452.602.452.752.852.903.003.20
Greater Building Society1.751.752.452.452.652.752.752.753.003.203.203.20
Heritage Bank2.452.552.753.052.652.852.702.902.902.953.003.00
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
IMB2.352.402.502.602.752.903.10
ING DIRECT2.502.502.702.502.602.80
Investec Bank Australia2.352.752.852.652.752.732.742.782.84
Macquarie Bank1.852.702.602.652.602.602.552.552.55
ME (formerly ME Bank)2.302.302.402.402.503.303.103.053.003.003.103.20
Newcastle Permanent2.002.002.702.002.002.502.502.502.802.903.003.20
People's Choice Cr Union2.202.702.602.502.803.003.003.103.103.153.20
Police Bank2.702.702.60
P&N Bank2.503.002.802.652.952.702.903.003.103.103.10
QT Mutual Bank2.252.252.752.252.252.852.852.853.053.10
Rabobank Australia1.201.702.302.101.802.352.302.352.753.003.003.20
RaboDirect2.202.552.652.652.702.903.003.053.30
Rural Bank Limited2.002.002.752.002.002.752.902.852.902.902.903.10
St.George Bank - Ex VIC2.002.002.402.002.002.452.002.452.702.752.803.10
Suncorp Bank2.202.302.752.752.603.002.902.802.853.003.003.00
Teachers Mutual Bank2.552.553.002.652.652.802.852.85
The Capricornian2.202.302.50
UBank2.202.812.813.012.813.01
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.