29 November – 3 December 2021

Summary: Modest number of rate changes; notable changes made by Heritage, Citibank, Judo Bank Australia; Judo offers still highest rate in survey.

There were a modest number of changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 23 changes, 13 took the form of rate decreases. No changes were made by the major banks.

Among the smaller ADIs, the most notable changes came from Heritage Bank. Its 3-month rate was trimmed by 5bps while its 4-month, 5-month and 6-month rates were each lowered by 10bps. However, its 9-month rate was increased by 15bps, its 1-year rate was raised by 5bps and 2-year and longer rates were each increased by 10bps.

Citibank’s changes were much more uniform. Is 3-month rate was trimmed by 5bps while its rates on terms of 6 months and longer were all lowered by 10bps each.

Judo Bank’s changes also rate a mention. Its 3-month rate was raised by 6bps, the 6-month rate was increased by 8bps, the 9-month rate had 5bps added to it while the 1-year rate was increased by 13bps.  

See our table below for the latest rates and terms which are available. Judo Bank’s 5-year deposit still offers the highest rate in this week’s survey.

TERM DEPOSITS 250K TO $1M+

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	0.05	0.05	0.05	0.05	0.05	0.10	0.10	0.15	0.15	0.15	0.15	0.15
CBA	0.05	0.05	0.07	0.08	0.10	0.15	0.20	0.25	0.30	0.30	0.30	0.30
NAB	0.05	0.05	0.07	0.08	0.10	0.15	0.20	0.25	0.30	0.30	0.30	0.30
Westpac	0.05	0.05	0.07	0.07	0.10	0.15	0.20	0.25	0.30	0.30	0.30	0.30
Military Bank			0.50	0.50	0.50	0.60	0.60	0.75	0.75	0.75
AMP Bank	0.10	0.20	0.70	0.70	0.85	0.85	0.90	1.00	1.00	1.00	1.00	1.00
Arab Bank Australia	0.15	0.20	0.60	0.50	0.50	0.75	0.75	0.85	1.00	1.00	0.85	1.00
Bank of Melbourne	0.05	0.05	0.07	0.07	0.10	0.15	0.20	0.25	0.30	0.30	0.30	0.30
Bank Australia			0.25	0.25	0.25	0.35	0.35	0.70	0.80	0.90
BankSA	0.05	0.05	0.07	0.07	0.10	0.15	0.20	0.25	0.30	0.30	0.30	0.30
Bank of Baroda Australia	0.30	0.30	0.40	0.40	0.40	0.50	0.50	0.50	0.50	0.50	0.50	0.50
Bankwest	0.05	0.10	0.20	0.20	0.20	0.40	0.25	0.45	0.50	0.50	0.50	0.50
Bank of Sydney	0.15	0.20	0.35	0.40	0.6	0.45	0.50	0.45
BankVic			0.45	0.45	0.45	0.45	0.45	0.45	0.50	0.50	0.50	0.50
Beyond Bank			0.30			0.30	0.30	0.40	0.60	0.60	0.60	0.60
Bendigo Bank	0.05	0.05	0.10	0.10	0.10	0.25	0.25	0.30	0.25	0.30	0.30	0.30
Bank of Queensland	0.05	0.15	0.30	0.20	0.20	0.35	0.25	0.45	0.70	1.00	1.00
BOQ Specialist			0.35	0.25		0.35	0.35	0.50	0.85	1.00	1.00	1.00
Citibank	0.15		0.4			0.4	0.4	0.4	0.4	0.4	0.4	0.4
CUA	0.10	0.15	0.50	0.50	0.50	0.50	0.50	0.65	0.65	0.65	0.65	0.65
Defence Bank	0.10	0.10	0.30	0.30	0.30	0.40	0.40	0.45	0.55
Delphi Bank	0.05	0.05	0.10	0.05	0.10	0.30	0.25	0.30	0.25	0.30	0.30	0.30
Greater Bank	0.10	0.10	0.20	0.20	0.20	0.25	0.25	0.35	0.65	0.80	0.90	1.00
Heritage Bank	0.10	0.20	0.3	0.3	0.3	0.3	0.55	0.65	0.7	0.8	0.8	0.8
Horizon Credit Union	0.10	0.10	0.25	0.25		0.30	0.30	0.40	0.40	0.40
HSBC	0.05	0.10	0.30	0.15	0.15	0.30	0.15	0.50	0.50	0.50	0.50	0.50
IMB	0.10	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.40	0.40	0.50	0.60
ING Direct			0.05	0.05		0.07	0.18	0.22	0.25
Judo Bank			0.88			0.97	0.99	1.12	1.20	1.15	1.20	1.40
Macquarie Bank	0.05	0.05	0.30	0.30		0.30	0.30	0.55	0.60	0.60	0.60	0.60
ME Bank	0.15	0.15	0.40	0.40	0.45	0.50	0.55	0.60	0.60	0.80	1.00	1.20
MyState	0.10	0.15	0.30	0.30	0.25	0.50	0.50	0.65	1.00
Newcastle Permanent	0.10	0.10	0.20	0.20	0.20	0.30	0.30	0.40	0.45	0.80	0.90	1.00
People's Choice Credit Union		0.10	0.25	0.45	0.20	0.20	0.30	0.60	0.60	0.75	0.75	0.75
Police Bank	0.40	0.40	0.40	0.40	0.40	0.40	0.45	0.65
P&N Bank		0.10	0.20	0.20	0.20	0.40	0.25	0.45	0.45	0.55	0.55	0.55
QT Mutual Bank	0.05	0.15	0.40	0.40	0.40	0.50	0.50	0.60	0.65	0.65	0.65	0.65
Rabobank Australia	0.15	0.15	0.45	0.45	0.45	0.75	0.50	0.75	0.50	0.50	1.05	1.25
Rural Bank	0.05	0.05	0.10	0.10	0.10	0.30	0.25	0.30	0.25	0.30	0.30	0.30
St. George Bank - Except VIC	0.05	0.05	0.07	0.07	0.10	0.15	0.20	0.25	0.30	0.30	0.30	0.30
Suncorp Bank	0.10	0.15	0.45	0.25	0.25	0.50	0.65	0.70	0.80	0.85	0.90	0.95
Teachers Mutual Bank			0.50	0.50	0.50	0.55	0.55	0.55	0.60	0.60
The Capricornian			0.30			0.35		0.40	0.60
UBank	0.15	0.20	0.45	0.40	0.40	0.45	0.35	0.35
Bank First	0.15	0.20	0.40	0.50		0.50	0.50	0.60	0.60	0.60	0.60	0.60

^{*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 and rate sheets.}