16 June – 20 June 2025

Summary:

The movements in term deposit rates by major and non-major banks continue to see fluctuations. Over the past week, there were more downward moves than upward ones.

Our survey across 43 institutions continues to indicate that the most contested term deposit duration is 6 months, followed by 3 months and 5 years.

This week, the best rate with a 3-month term was 4.45%, down from 4.7% the week before. Both IN1Bank and Teachers Mutual are offering the best rates in the 3-month category.

The best rate within the 6-month term remained steady at 4.6% from the previous week. This term currently offers the best rate, with a median of 4.1%, down 0.05% from the prior week.

Interestingly, the best 5-year rate increased this week to 4.45%, up from 4.3% last week. The best 5-year rate is offered by Judo Bank. The median rate for the 5-year term across the 43 banks and non-banks remained unchanged at 3.25%.

Our analysis also shows that term deposit offerings above 4% continue to improve or remain steady. In the 3-month category, 11 institutions now offer rates above 4%, compared to 9 the previous week. In the 6-month category, 21 institutions offer rates above 4%, up from 20 the week before. This affirms the 6-month term as the most competitive segment in the term deposit market.

Institution1 month2 month3 month4 month5 month6 month9 month1 Year2 Year3 Year4 Year5 Year
ANZ1.20↓1.452.70↓2.80↓2.90↓2.95↓3.20↓3.65↓3.40↓2.90↓2.90↓2.90↓
Commonwealth Bank1.20↓1.45↓2.85↓3.00↓3.05↓3.10↓3.30↓3.60↓3.50↓3.503.503.50
NAB1.20↓1.452.85↓3.00↓3.10↓3.05↓3.30↓3.903.50↓2.902.902.90
Westpac1.251.452.75↓2.90↓3.00↓3.05↓3.30↓3.75↓3.50↓3.00↓3.00↓3.00↓
Military Bank 3.404.10↓4.10↓4.45↓4.10↓4.10↓3.803.80
AMP Bank0.100.204.20↓4.15↓4.30↓4.30↓4.00↓3.95↓3.703.003.003.00
Arab Bank Australia1.251.253.95↓3.80↓3.80↓4.35↓3.85↓3.75↓3.40↓3.30↓3.30↓3.20↓
Bank of Melbourne1.251.452.75↓2.90↓3.00↓3.05↓3.30↓3.70↓2.80↓2.90↓2.90↓2.90↓
Bank Australia 4.454.20↓4.003.90↓3.803.80
BankSA1.251.452.75↓2.90↓3.00↓3.05↓3.30↓3.75↓2.80↓2.90↓2.90↓2.90↓
Bankwest2.002.003.753.004.204.003.803.803.603.603.753.75
Bank of Sydney1.251.504.003.503.504.35↓4.104.05↓
BankVic 3.604.004.20↓4.10↓3.704.00↓4.004.004.004.00
Beyond Bank 4.15↓4.00↓3.65↓3.60↓3.35↓3.25↓3.25↓3.25↓
Bendigo Bank1.251.502.903.403.103.803.703.602.953.003.003.00
BOQ0.750.802.254.10↓1.254.10↓3.90↓3.90↓3.00↓3.00↓3.00↓
BOQ Specialist 4.25↓4.15↓4.20↓4.00↓3.95↓3.503.503.503.50
Great Southern Bank1.301.604.254.554.354.504.053.903.603.403.403.40
Defence Bank 3.60↓3.603.703.75↓3.75↓3.85↓3.45↓
Greater Bank1.001.003.953.953.954.25↓3.803.90↓3.503.90↓3.503.50
Heritage Bank1.151.403.854.25↓3.504.10↓3.953.90↓3.75↓3.60↓3.60↓3.60↓
Horizon Credit Union1.251.503.60↓3.60↓4.003.90↓3.80↓3.60↓3.60
HSBC1.852.003.75↓3.25↓3.25↓3.65↓3.65↓3.65↓3.503.503.503.50
IMB 4.354.15↓3.90↓3.753.754.004.00
ING Direct 4.10↓4.00↓ 4.15↓3.95↓4.053.80
in1bank3.853.904.454.404.304.254.103.953.85
Judo Bank 4.35↓4.55↓4.25↓4.15↓4.05↓4.05↓4.35↑4.45↑
Macquarie Bank2.102.104.20↓4.15↓4.05↓3.903.803.603.653.803.80
ME Bank0.750.804.20↑4.15↓4.15↓4.20↓2.002.002.002.002.002.00
MyState Bank0.500.504.004.15↓4.20↓4.20↓4.00↓4.003.75
Newcastle Permanent1.001.003.953.953.954.25↓3.803.90↓3.503.90↓3.503.50
People's Choice Credit Union 1.403.854.25↓3.504.10↓3.953.90↓3.75↓3.60↓3.60↓3.60↓
Police Bank 4.103.753.004.254.00↓4.00↓
P&N Bank 1.604.304.154.50↑4.003.904.004.004.004.004.00
RACQ Bank0.551.604.15↓3.503.504.20↓4.00↓4.00↓3.303.303.303.30
Rabobank Australia2.002.104.15↓3.90↓3.90↓4.00↓3.90↓3.853.70↑3.804.25↑4.40↑
Rural Bank Limited 4.15↓0.000.004.00↓3.65↓3.60↓3.35↓3.25↓3.25↓3.25↓
St.George Bank - Except VIC1.251.452.75↓2.90↓3.00↓3.05↓3.30↓3.75↓2.80↓2.90↓2.90↓2.90↓
Suncorp Bank1.301.903.65↓3.95↓3.35↓4.15↓3.85↓3.853.353.353.353.35
Teachers Mutual Bank 4.404.254.054.604.304.303.803.80
The Capricornian 3.00 3.25 3.803.70
Bank First0.751.004.20↓4.20↓ 4.30↓4.05↓4.00↓3.65↓3.65↓3.65↓3.65↓