Summary: Moderate number of rate changes; 20 reductions, 7 increases; Commonwealth Bank changes one rate; notable changes from Beyond, Macquarie, ING Direct, MyState; highest rate in survey steady at 5.15%.
There were a moderate number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 27 changes which occurred, 20 took the form of rate reductions.
One of the major banks changed its term-deposit rates this week and, once again, it was Commonwealth Bank. This time it trimmed its 2-year rate 5bps.
Among the smaller ADIs, the most notable changes were made by Beyond Bank, Macquarie Bank, ING Direct and MyState.
See our table below for any other changes as well as the latest rates and terms which are available. The highest rate in this week’s survey remained at 5.15% (AMP Bank).
| Institution | 1 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ANZ | 1.25 | 1.45 | 3.15 | 3.25 | 3.35 | 3.50 | 3.80 | 4.20 | 3.80 | 3.10 | 3.10 | 3.10 |
| CBA | 1.25 | 1.50 | 3.15 | 3.20 | 3.30 | 3.40 | 3.60 | 3.60 | 3.75 | 3.50 | 3.45 | 3.50 |
| NAB | 1.25 | 1.45 | 3.15 | 3.25 | 3.35 | 3.50 | 3.80 | 4.40 | 3.80 | 3.10 | 3.10 | 3.10 |
| Westpac | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.60 | 4.00 | 4.00 | 3.80 | 3.60 | 3.60 | 3.60 |
| Military Bank | 3.50 | 3.50 | 3.50 | 4.85 | 4.85 | 5.10 | 4.80 | 4.55 | ||||
| AMP Bank | 0.10 | 0.20 | 5.00 | 4.80 | 4.60 | 5.15 | 5.05 | 4.95 | 4.50 | 3.00 | 3.00 | 3.00 |
| Arab Bank Australia | 1.50 | 1.50 | 4.25 | 4.10 | 4.10 | 4.80 | 4.65 | 4.50 | 3.95 | 3.85 | 3.85 | 3.75 |
| Bank of Melbourne | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.60 | 4.00 | 4.00 | 3.80 | 3.60 | 3.60 | 3.60 |
| Bank Australia | 4.80 | 4.70 | 4.70 | 4.60 | 4.25 | 4.00 | ||||||
| BankSA | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.55 | 3.95 | 3.95 | 3.95 | 3.75 | 3.55 | 3.55 |
| Bankwest | 2.00 | 2.00 | 3.75 | 3.00 | 3.00 | 4.25 | 4.00 | 4.70 | 3.90 | 3.80 | 3.80 | 3.80 |
| Bank of Sydney | 1.25 | 1.50 | 3.50 | 3.90 | 3.90 | 4.50 | 3.90 | 4.00 | ||||
| BankVic | 3.60 | 4.00 | 3.70 | 4.80 | 3.70 | 4.60 | 4.00 | 4.00 | 4.00 | 4.00 | ||
| Beyond Bank | 4.70 | 4.60 | 4.50 | 4.50 | 3.90 | 3.80 | 3.80 | 3.80 | ||||
| Bendigo Bank | 1.25 | 1.50 | 3.50 | 4.00 | 3.00 | 4.00 | 4.40 | 4.50 | 3.95 | 4.45 | 3.20 | 3.25 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.60 | 1.25 | 4.75 | 4.70 | 4.50 | 4.50 | 3.30 | 3.30 | |
| BOQ Specialist | 4.60 | 4.65 | 4.75 | 4.70 | 4.50 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.85 | 2.95 | 4.50 | 4.35 | 4.65 | 4.60 | 4.00 | 3.60 | 3.60 | 3.60 |
| Defence Bank | 4.25 | 3.60 | 3.70 | 4.45 | 4.00 | |||||||
| Greater Bank | 1.00 | 1.00 | 4.00 | 4.00 | 4.00 | 4.65 | 4.00 | 4.45 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.60 | 3.60 | 4.65 | 4.45 | 4.40 | 4.10 | 3.90 | 3.90 | 3.90 |
| Horizon Credit Union | 1.25 | 1.50 | 3.90 | 3.70 | 4.30 | 4.70 | 4.50 | 3.80 | 3.70 | |||
| HSBC | 1.85 | 2.00 | 4.50 | 3.75 | 3.75 | 4.40 | 4.30 | 4.20 | 4.10 | 4.00 | 4.00 | 4.00 |
| IMB | 4.20 | 4.75 | 4.60 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.90 | 4.85 | 4.90 | 4.65 | 4.70 | 4.40 | ||||||
| in1bank | 4.00 | 4.10 | 4.35 | 4.43 | 4.48 | 4.61 | 4.56 | 4.50 | 4.40 | |||
| Judo Bank | 4.85 | 4.95 | 4.90 | 4.85 | 4.65 | 4.55 | 4.45 | 4.45 | ||||
| Macquarie Bank | 2.10 | 2.10 | 4.65 | 4.60 | 4.60 | 4.55 | 4.50 | 3.90 | 3.80 | 3.80 | 3.80 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.65 | 1.25 | 4.80 | 4.75 | 4.55 | 2.00 | 2.00 | 2.00 | 2.00 |
| MyState | 0.50 | 0.50 | 4.00 | 4.20 | 4.80 | 5.00 | 4.75 | 4.65 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 4.00 | 4.00 | 4.00 | 4.65 | 4.00 | 4.45 | 4.00 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.60 | 3.60 | 4.65 | 4.45 | 4.40 | 4.10 | 3.90 | 3.90 | 3.90 | |
| Police Bank | 4.10 | 3.75 | 3.00 | 4.00 | 5.00 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.85 | 4.85 | 4.00 | 4.75 | 4.60 | 3.80 | 3.80 | 3.70 | 3.70 | 3.70 | |
| RACQ Bank | 0.55 | 1.60 | 4.85 | 3.50 | 3.50 | 4.90 | 4.65 | 4.65 | 3.90 | 3.90 | 3.90 | 3.90 |
| Rabobank Australia | 2.00 | 2.10 | 4.85 | 4.50 | 4.50 | 4.90 | 4.70 | 4.55 | 4.20 | 4.00 | 4.30 | 4.40 |
| Rural Bank | 1.25 | 1.50 | 3.50 | 4.00 | 3.00 | 4.00 | 4.40 | 4.50 | 3.30 | 3.30 | 3.30 | 3.30 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.60 | 3.80 | 4.00 | 3.80 | 3.60 | 3.60 | 3.60 |
| Suncorp Bank | 1.30 | 1.90 | 3.95 | 4.70 | 3.45 | 4.85 | 4.40 | 4.30 | 3.85 | 3.85 | 3.85 | 3.85 |
| Teachers Mutual Bank | 4.80 | 4.80 | 4.80 | 4.85 | 4.75 | 4.60 | 4.00 | 4.00 | ||||
| The Capricornian | 3.00 | 3.25 | 4.00 | 4.00 | ||||||||
| Bank First | 0.75 | 1.00 | 4.65 | 4.65 | 4.80 | 4.75 | 4.65 | 4.00 | 4.00 | 4.00 | 4.00 |
*For comparison purposes rates to 1 year are paid at maturity. Rates longer than 1 year are paid annually. Rates are checked each week on company websites.