Summary:
The movements in term deposit rates by major and non-major banks continue to show variability. Over the past week, ending September 26, 2025, there were down movements, though stability is notable in some terms.
Our survey across 42 institutions indicates that the most contested term deposit term is 3 months, followed by 1 year and 6 months, with sample sizes of 42 each.
This week the best rate with a 3-month term was 4.38%, with in1bank offering the top rate. The median rate of 3.75% reflects a broad range from 2.25% to 4.38%.
This week the best rate within 6 months term was 4.20%, offered by Arab Bank Australia and Great Southern Bank. The median rate of 3.98% shows a tight quartile spread of 0.50%, indicating consistency.
Interestingly, the best 5-year rate held at 4.30%, led by Judo Bank and Rabobank Australia. The median rate held at 3.30%, with 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, 9 institutions now offer over 4%, down from 10 last week. In the 6-month category, 13 institutions exceed 4%, steady from 13, reinforcing the 6-month term’s competitiveness.
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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 2.65 2.75 2.85 2.90 3.15 3.55 3.35 2.85 2.85 2.85 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 4.15 4.05 3.95 4.00 3.80 3.80 BankSA 1.20 1.40 0.03 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 Beyond Bank 3.85↑ 3.70↑ 3.55↑ 3.60↑ 3.25↑ 3.15↑ 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 4.05↓ 4.10↓ 3.95↓ 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 3.75 3.75 4.15 3.90 4.10 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 4.00 3.95 3.90 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 3.85 4.00 4.10 3.85 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 3.70↓ 3.70↓ 3.95 3.85 3.70 3.50 3.70 4.15 4.30 Rural Bank Limited 3.85↑ 0.00 0.00 3.70↑ 3.55↑ 3.60↑ 3.25↑ 3.15↑ 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 3.50↓ 3.70 3.20 3.20 3.20 Teachers Mutual Bank 4.05↓ 4.00↓ 3.75↓ 4.05↓ 3.95↓ 3.85↓ 3.25↓ 3.25↓ 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