Summary:
The movements in term deposit rates across major and non-major banks continue to reflect a dynamic landscape, with a mix of increases, decreases, and stable rates observed over the past week, ending October 17, 2025. Our survey of 42 institutions highlights that the 6-month term remains the most competitive, followed by 3-month and 1-year terms, each with a sample size of 42 institutions.
For the 3-month term, the best rate held steady at 4.38%, unchanged from last week, with in1bank offering the top rate. The median rate remained at 3.75%, with a broad range from 2.05% to 4.38%. The quartile spread widened slightly to 1.00% from 0.96%, indicating a modest increase in variability among rates.
In the 6-month term, the top rate rose to 4.35% from 4.20% last week, led by ING Direct. The median rate was stable at 3.93%, with a tight quartile spread of 0.50%, reflecting consistency across institutions. This term continues to be highly contested, with competitive offerings across the board.
For the 5-year term, the best rate remained at 4.30%, offered by Judo Bank and Rabobank Australia. The median rate held steady at 3.30%, with a range from 2.00% to 4.30%. The quartile spread was consistent at 0.50%, suggesting stable offerings in longer-term deposits.
Our analysis shows term deposits with rates above 4% are holding strong. In the 3-month category, 6 institutions now offer over 4%, unchanged from last week. In the 6-month category, 12 institutions exceed 4%, unchanged from last week, reinforcing the 6-month term’s competitiveness.
Term deposit rates by Institution
Institution 1 month 3 month 6 month 9 month 1 Year 2 Year 3 Year 4 Year 5 Year ANZ 1.20 2.70 2.95 3.20 3.65 3.40 2.90 2.90 2.90 Commonwealth Bank 1.20 2.85 3.05 3.20 3.50 3.40 3.40 3.40 3.40 NAB 1.20 2.75 3.00 3.15 3.70 2.90 2.90 2.90 2.90 Westpac 1.20 2.65 2.90 3.15 3.55 3.35 2.85 2.85 2.85 Military Bank 3.15 4.30 3.85 3.85 3.55 3.55 AMP Bank 0.10 3.80 4.00 3.85 3.80 3.60 3.00 3.00 3.00 Arab Bank Australia 1.25 3.95 4.20 3.85 3.75 3.40 3.30 3.30 3.20 Bank of Melbourne 1.20 2.65 2.90 3.15 3.25 2.80 2.75 2.75 2.75 Bank Australia 4.15 4.15 4.20 4.10 3.80 3.80 BankSA 1.20 2.65 2.90 3.15 3.50 2.80 2.75 2.75 2.75 Bankwest 2.00 3.75 3.80 3.70 3.70 3.50 3.50 3.55 3.55 Bank of Sydney 1.25 3.85 4.00 4.00 4.15 BankVic 3.60 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 3.15 3.15 Bendigo Bank 1.20 2.75 3.00 3.20 3.60 2.95 3.00 3.00 3.00 BOQ 0.75 2.25 4.00 3.85 3.90 3.00 3.00 3.00 BOQ Specialist 4.20 4.10 3.95 3.95 3.50 3.50 3.50 3.50 Great Southern Bank 1.30 3.95 3.95 3.90 3.95 3.50 3.30 3.30 3.30 Defence Bank 1.35 3.35 3.50 3.50 3.50 3.00 Greater Bank 1.00 3.75 4.05 3.60 3.80 3.30 3.50 3.30 3.30 Heritage Bank 1.15 3.75 3.85 3.65 3.65 3.50 3.50 3.50 3.50 Horizon Credit Union 1.25 3.60 3.80 3.70 3.70 3.50 3.50 HSBC 1.85 3.50 3.40 3.40 3.40 3.50 3.50 3.50 3.50 IMB 4.00 3.90 3.80 3.50 3.60 4.00 4.00 ING Direct 4.15 4.35 4.00 4.20 3.90 in1bank 3.50 4.38 4.00 3.80 3.70 3.60 Judo Bank 3.90 3.90 4.10 3.90 3.95 4.00 4.20 4.30 Macquarie Bank 2.10 4.00 3.90 3.80 3.70 3.60 3.65 3.80 3.80 ME Bank 0.55 2.05 4.00 4.00 4.00 2.00 2.00 2.00 2.00 MyState Bank 0.50 3.80 4.10 3.85 3.90 3.50 Newcastle Permanent 1.00 3.75 4.05 3.60 3.80 3.30 3.50 3.30 3.30 People's Choice Credit Union 3.75 3.85 3.65 3.65 3.50 3.50 3.50 3.50 Police Bank 4.00 4.00 3.75 3.70 P&N Bank 3.75 3.80 3.60 3.70 3.70 3.70 3.70 3.70 RACQ Bank 0.55 4.15 4.10 3.85 3.85 3.30 3.30 3.30 3.30 Rabobank Australia 2.00 4.00 4.00 3.85 3.95 3.65 3.70 4.15 4.30 Bendigo Bank Agribusiness 2.00 3.00 3.85 4.00 3.60 St.George Bank - Except VIC 1.20 2.65 2.90 3.15 3.55 2.80 2.75 2.75 2.75 Suncorp Bank 1.30 4.00 4.15 3.70 3.50 3.70 3.20 3.20 3.20 Teachers Mutual Bank 4.05 4.05 3.95 3.85 3.25 3.25 The Capricornian 3.00 3.25 3.65 3.45 Bank First 0.75 4.00 4.05 3.80 3.80 3.30 3.30 3.30 3.30