Summary:
The movements in term deposit rates by major and non-major banks continue to show variability. Over the past week, ending September 19, 2025, there were a mix of up and down movements, though stability is notable in some terms.
Our survey across 41 institutions indicates that the most contested term deposit term remains 6 months, followed by 3 months and 1 year, with sample sizes of 41 each.
This week, the best rate with a 3-month term was 4.45%, offered by in1bank. The median rate of 3.75% reflects a broad range from 2.25% to 4.45%.
This week, the best rate within 6 6-month term was 4.60%, offered by Teachers Mutual Bank. The median rate of 4.00% shows a tight quartile spread of 0.55%, indicating consistency.
Interestingly, the best 5-year rate reached 4.30%, led by Judo Bank and Rabobank Australia. The median rate of 3.30% shows a range from 2.00% to 4.30%.
Our analysis shows term deposits with rates above 4% are holding strong. In the 3-month category, 10 institutions offer over 4%. In the 6-month category, 13 institutions exceed 4%, down from 15 last week, reinforcing the 6-month term’s competitiveness.
Term deposit rates by Institution
Institution 1 month 2 month 3 month 4 month 5 month 6 month 9 month 1 Year 2 Year 3 Year 4 Year 5 Year ANZ 1.20 1.45 2.70 2.80 2.90 2.95 3.20 3.65 3.40 2.90 2.90 2.90 Commonwealth Bank 1.20 1.45 2.85 2.95 3.00 3.05 3.20 3.50 3.40 3.40 3.40 3.40 NAB 1.20 1.45 2.75 2.90 2.90 3.00 3.15 3.70 2.90 2.90 2.90 2.90 Westpac 1.20 1.40 2.60↓ 2.70↓ 2.80↓ 2.90 3.10↓ 3.50↓ 3.30↓ 2.80↓ 2.80↓ 2.80↓ Military Bank 3.15 3.85 4.25 4.15 3.85 3.85 3.55 3.55 AMP Bank 0.10 0.20 3.80 3.80 3.90 4.00 3.85 3.80 3.60 3.00 3.00 3.00 Arab Bank Australia 1.25 1.25 3.95 3.80 3.80 4.20↓ 3.85 3.75 3.40 3.30 3.30 3.20 Bank of Melbourne 1.20 1.40 2.65 2.75 2.85 2.90 3.15 3.25↓ 2.80 2.75 2.75 2.75 Bank Australia 4.00↓ 4.00↓ 3.90↓ 3.90 3.80 3.80 BankSA 1.20 1.40 2.65 2.75 2.85 2.90 3.15 3.75 2.80 2.90 2.90 2.90 Bankwest 2.00 2.00 3.75 3.00 4.00↓ 3.80↓ 3.70↓ ↓ ↓ ↓ ↓ 3.75 Bank of Sydney 1.25 1.50 3.85 3.50 3.50 4.00 4.00 4.10↑ BankVic 3.60 4.00 4.10 4.00 3.70 3.85 3.85 3.85 3.85 3.85 Bendigo Bank 1.20 1.45 2.75 3.05 2.90 3.00 3.20 3.60 2.95 3.00 3.00 3.00 BOQ 0.75 0.80 2.25 4.00↓ 1.25 4.00↓ 3.85↓ 3.90 3.00 3.00 3.00 BOQ Specialist 4.20 4.10 4.15 4.00 3.95 3.50 3.50 3.50 3.50 Great Southern Bank 1.30 1.60 4.05 4.15 4.00 4.20 3.90 4.00 3.50 3.30 3.30 3.30 Defence Bank 3.35 3.35 3.95 3.50 3.50 3.50 3.00 Greater Bank 1.00 1.00 3.75 3.75 3.75 4.05 3.60 3.80 3.30 3.50 3.30 3.30 Heritage Bank 1.15 1.40 3.75 4.05 3.40 3.85 3.65 3.65 3.50 3.50 3.50 3.50 Horizon Credit Union 1.25 1.50 3.60 3.90 3.80 3.70 3.70 3.50 3.50 HSBC 1.85 2.00 3.50 3.00 3.00 3.40 3.40 3.40 3.50 3.50 3.50 3.50 IMB 4.10 4.00 3.80 3.50 3.60 4.00 4.00 ING Direct 4.05↓ 4.35↑ 4.05↓ 4.05↑ 3.70↓ 4.00↑ in1bank 3.85 3.90 4.45 4.40 4.30 4.25 4.10 3.95 3.85 Judo Bank 3.95 3.95 4.10 3.90 3.95 4.00 4.20 4.30 Macquarie Bank 2.10 2.10 4.05 4.00 3.95 3.80 3.70 3.60 3.65 3.80 3.80 ME Bank 0.75 0.80 4.10 4.10 4.15 4.15 1.95 2.00 2.00 2.00 2.00 2.00 MyState Bank 0.50 0.50 3.80 3.80↓ 4.00 4.10 3.80↓ 3.90 3.50 Newcastle Permanent 1.00 1.00 3.75 3.75 3.75 4.05 3.60 3.80 3.30 3.50 3.30 3.30 People's Choice Credit Union 1.40 3.75 4.05 3.40 3.85 3.65 3.65 3.50 3.50 3.50 3.50 Police Bank 4.00 3.75 3.00 4.00 3.75 3.70 P&N Bank 1.60 3.75↑ 4.05↑ 3.00↓ 3.80↑ 3.60 3.70 3.70 3.70 3.70 3.70 RACQ Bank 0.55 1.60 4.15 3.50 3.50 4.10 3.85 3.85 3.30 3.30 3.30 3.30 Rabobank Australia 2.00 2.10 4.05 3.90 3.90 3.95 3.85 3.70 3.50 3.70 4.15 4.30 Rural Bank Limited 0.00 0.00 St.George Bank - Except VIC 1.20 1.40 2.65 2.75 2.85 2.90 3.15 3.55 2.80 2.75 2.75 2.75 Suncorp Bank 1.30 2.00 4.00 3.50 3.25 4.00 3.70 3.65 3.70 3.20 3.20 3.20 Teachers Mutual Bank 4.40 4.25 4.05 4.60 4.30 4.30 3.80 3.80 The Capricornian 3.00 3.25 3.65 3.45 Bank First 0.75 1.00 4.00 4.00 4.05 3.80 3.80 3.30 3.30 3.30 3.30