Summary: Large number of rate changes; 48 increases, 1 decrease; ANZ raises 1-year rate; notable rate changes from Bank Australia, Macquarie, AMP Bank, Bank of Sydney; Judo offers highest rate in survey.
There were a large number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 49 changes which took place, 48 took the form of rate increases.
One of the major banks changed its respective term deposit rates this week. ANZ Bank increased its 1-year deposit rate by 25bps.
Among the smaller ADIs, the most notable changes came from Bank Australia. It raised its 6-month rate by 10bps and its 9-month rate by 70bps while rates on terms of 1 year, 2 years and 3 years were all increased by 40bps.
Another notable change was made by Macquarie Bank after it raised its rates on terms of 3 months, 4 months and 6 months by 20bps, 25bps and 35bps respectively. It also raised its 9-month and 1-year rates by 40bps.
Other changes worthy of mention came from AMP Bank and Bank of Sydney.
See our table below for any other changes as well as the latest rates and terms which are available. Judo Bank’s 5-year deposit offers the highest rate in this week’s survey.
TERM DEPOSITS $250,000 TO $1 MILLION
| 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 | 1.30 | 1.55 | 3.00 | 3.80 | 3.40 | 3.45 | 3.70 | 4.60 | 3.95 | 3.95 | 3.95 | 3.95 |
| CBA | 1.25 | 1.50 | 3.00 | 3.10 | 3.20 | 3.30 | 3.55 | 3.55 | 3.75 | 3.80 | 3.90 | 4.00 |
| NAB | 1.25 | 1.45 | 3.00 | 3.10 | 3.25 | 3.55 | 3.70 | 4.20 | 4.00 | 4.00 | 4.00 | 4.00 |
| Westpac | 1.25 | 1.45 | 3.00 | 3.10 | 3.20 | 3.30 | 3.55 | 3.95 | 4.00 | 4.00 | 4.00 | 4.00 |
| Military Bank | 4.35 | 4.40 | 4.50 | 4.65 | 4.70 | 4.75 | 4.30 | 4.30 | ||||
| AMP Bank | 0.10 | 0.20 | 4.40 | 4.40 | 4.70 | 4.70 | 4.75 | 4.80 | 4.60 | 4.70 | 4.70 | 4.70 |
| Arab Bank Australia | 2.00 | 2.25 | 3.70 | 3.80 | 3.90 | 4.00 | 4.20 | 4.40 | 4.10 | 4.10 | 4.10 | 4.10 |
| Bank of Melbourne | 1.25 | 1.45 | 3.05 | 3.15 | 3.25 | 3.35 | 3.60 | 4.00 | 4.05 | 4.05 | 4.05 | 4.05 |
| Bank Australia | 4.20 | 4.60 | 4.30 | 4.40 | 4.00 | 4.00 | ||||||
| BankSA | 1.25 | 1.45 | 3.05 | 3.15 | 3.25 | 3.35 | 3.60 | 4.00 | 4.05 | 4.05 | 4.05 | 4.05 |
| Bankwest | 1.25 | 1.50 | 3.15 | 2.60 | 2.70 | 3.90 | 3.90 | 4.25 | 4.00 | 4.00 | 4.00 | 4.00 |
| Bank of Sydney | 2.90 | 3.10 | 4.35 | 4.45 | 4.60 | 4.70 | 4.70 | 4.75 | ||||
| BankVic | 3.20 | 3.20 | 3.20 | 4.00 | 4.00 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | ||
| Beyond Bank | 3.75 | 4.00 | 4.10 | 4.25 | 4.10 | 4.00 | 4.00 | 4.00 | ||||
| Bendigo Bank | 0.50 | 0.60 | 0.70 | 4.30 | 0.90 | 3.85 | 3.80 | 4.75 | 3.30 | 3.35 | 3.35 | 3.35 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.15 | 1.25 | 4.35 | 4.45 | 4.55 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 2.25 | 2.30 | 3.40 | 4.10 | 4.10 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Citibank | 1.00 | 4.00 | 4.50 | 4.50 | 4.70 | 4.40 | 4.20 | 4.20 | 4.20 | |||
| Great Southern Bank | 1.30 | 1.60 | 3.80 | 2.25 | 2.30 | 4.05 | 4.15 | 4.40 | 4.20 | 4.00 | 4.00 | 4.00 |
| Defence Bank | 3.50 | 3.85 | 4.00 | 4.40 | 4.40 | |||||||
| Greater Bank | 0.10 | 0.10 | 3.25 | 2.50 | 2.50 | 4.20 | 3.60 | 4.50 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.25 | 3.00 | 3.00 | 4.00 | 3.15 | 4.50 | 4.05 | 3.85 | 3.85 | 3.85 |
| Horizon Credit Union | 1.25 | 1.50 | 3.00 | 3.10 | 4.20 | 3.50 | 4.20 | 3.90 | 3.80 | |||
| HSBC | 1.85 | 2.00 | 3.50 | 3.25 | 3.25 | 3.75 | 3.75 | 4.05 | 4.10 | 4.10 | 4.10 | 4.10 |
| IMB | 3.50 | 4.00 | 4.40 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.05 | 4.15 | 4.70 | 4.60 | 4.75 | 4.65 | ||||||
| Judo Bank | 4.40 | 4.75 | 4.80 | 4.90 | 4.85 | 4.85 | 4.85 | 4.95 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.60 | 4.60 | 4.75 | 4.75 | 4.80 | 3.90 | 3.60 | 3.60 | 3.65 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.25 | 1.25 | 3.10 | 4.45 | 4.75 | 4.30 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 2.50 | 4.60 | 4.50 | 4.40 | 4.60 | 4.50 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 4.00 | 2.25 | 2.25 | 3.80 | 2.85 | 4.50 | 4.25 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.50 | 3.25 | 3.00 | 3.00 | 4.00 | 3.15 | 4.50 | 4.05 | 3.85 | 3.85 | 3.85 | |
| Police Bank | 3.25 | 3.50 | 1.90 | 3.50 | 2.05 | 4.25 | ||||||
| P&N Bank | 1.75 | 3.85 | 3.25 | 3.25 | 4.25 | 4.00 | 4.55 | 4.55 | 4.20 | 4.20 | 4.20 | |
| RACQ Bank | 0.55 | 1.60 | 4.00 | 3.50 | 3.50 | 4.25 | 4.25 | 4.50 | 4.20 | 3.95 | 3.95 | 3.95 |
| Rabobank Australia | 1.50 | 1.75 | 4.15 | 4.30 | 4.40 | 4.40 | 4.50 | 4.55 | 4.40 | 4.40 | 4.50 | 4.65 |
| Rural Bank | 0.50 | 0.60 | 0.70 | 4.30 | 0.90 | 3.85 | 3.80 | 4.75 | 3.30 | 3.35 | 3.35 | 3.35 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 3.05 | 3.15 | 3.25 | 3.35 | 3.60 | 4.00 | 4.05 | 4.05 | 4.05 | 4.05 |
| Suncorp Bank | 1.30 | 1.90 | 3.15 | 4.05 | 3.45 | 3.55 | 4.20 | 4.25 | 3.95 | 3.95 | 3.95 | 3.95 |
| Teachers Mutual Bank | 1.10 | 1.10 | 1.10 | 4.70 | 2.00 | 3.50 | 3.70 | 3.80 | ||||
| The Capricornian | 2.15 | 3.00 | 3.85 | 4.00 | ||||||||
| UBank | 0.65 | 0.90 | 2.25 | 2.25 | 2.25 | 2.60 | 2.90 | 3.40 | ||||
| Bank First | 0.75 | 1.00 | 4.20 | 4.20 | 4.50 | 4.55 | 4.60 | 4.25 | 4.25 | 4.25 | 4.25 |
*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.