Summary: Largish number of rate changes; 52 increases, 4 decreases; significant rate changes from Westpac, Westpac subsidiaries; Judo offers highest rate in survey.
There were a largish number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 56 changes which took place, 52 took the form of rate increases.
One of the major banks changed its respective term deposit rates this week. Westpac raised its rates on terms from 3 months to 1 year inclusive by as little as 10bps (1-year deposit) and as much as 105bps (5-month deposit).
Among the smaller ADIs, , the most notable changes came from Westpac subsidiaries Bank of Melbourne, BankSA and St George Bank. These changes were identical to each other as well as Westpac’s changes above.
Other notable changes were made by MyState Bank, Military Bank and HSBC.
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 | 4.35 | 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 | 2.00 | 2.10 | 2.15 | 2.55 | 2.85 | 3.85 | 4.00 | 4.00 | 4.00 | 4.00 |
| Military Bank | 4.00 | 3.00 | 4.35 | 4.25 | 4.00 | 4.25 | 4.20 | 4.20 | ||||
| AMP Bank | 0.10 | 0.20 | 3.95 | 3.95 | 4.55 | 4.55 | 4.55 | 4.70 | 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 | 2.05 | 2.15 | 2.20 | 2.60 | 2.90 | 3.90 | 4.05 | 4.05 | 4.05 | 4.05 |
| Bank Australia | 4.20 | 4.50 | 3.60 | 4.00 | 3.60 | 3.60 | ||||||
| BankSA | 1.25 | 1.45 | 2.05 | 2.15 | 2.20 | 2.60 | 2.90 | 3.90 | 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 | 2.70 | 2.95 | 4.20 | 4.20 | 4.40 | 4.50 | 4.55 | 4.65 | ||||
| BankVic | 3.20 | 3.20 | 3.20 | 4.00 | 4.00 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | ||
| Beyond Bank | 3.50 | 3.85 | 3.85 | 4.25 | 4.10 | 4.00 | 4.00 | 4.00 | ||||
| Bendigo Bank | 0.50 | 0.60 | 0.70 | 3.80 | 0.90 | 3.85 | 3.80 | 4.05 | 3.30 | 3.35 | 3.35 | 3.35 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.00 | 1.25 | 4.25 | 4.45 | 4.40 | 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 | 3.70 | 4.10 | 4.15 | 4.40 | 4.40 | 4.40 | 4.40 | 4.40 | |||
| Great Southern Bank | 1.10 | 1.45 | 3.25 | 2.05 | 2.10 | 3.80 | 3.85 | 4.20 | 4.20 | 4.10 | 4.30 | 4.30 |
| Defence Bank | 3.25 | 3.60 | 3.80 | 4.40 | 4.40 | |||||||
| Greater Bank | 0.10 | 0.10 | 3.00 | 2.50 | 2.50 | 4.20 | 3.60 | 4.20 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.25 | 2.75 | 2.75 | 2.75 | 3.90 | 3.15 | 4.50 | 4.05 | 4.05 | 4.10 | 4.10 |
| Horizon Credit Union | 1.25 | 1.50 | 2.80 | 2.90 | 3.00 | 3.50 | 4.00 | 3.90 | 3.80 | |||
| HSBC | 1.85 | 1.85 | 3.25 | 2.85 | 2.85 | 3.50 | 3.75 | 4.05 | 4.10 | 4.10 | 4.10 | 4.10 |
| IMB | 3.00 | 3.60 | 4.40 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 3.80 | 3.90 | 4.30 | 4.20 | 4.60 | 4.60 | ||||||
| Judo Bank | 4.25 | 4.60 | 4.65 | 4.75 | 4.80 | 4.85 | 4.85 | 4.95 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.20 | 4.20 | 4.35 | 4.35 | 4.35 | 3.90 | 3.60 | 3.60 | 3.65 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 3.65 | 1.25 | 3.10 | 4.50 | 4.45 | 4.30 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 2.50 | 1.30 | 2.00 | 4.15 | 3.60 | 4.50 | 4.05 | |||
| Newcastle Permanent | 1.00 | 1.00 | 3.00 | 2.25 | 2.25 | 3.60 | 2.85 | 4.10 | 4.25 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.25 | 2.75 | 2.75 | 2.75 | 3.90 | 3.15 | 4.50 | 4.05 | 4.05 | 4.10 | 4.10 | |
| Police Bank | 3.00 | 3.50 | 1.90 | 3.25 | 2.05 | 4.00 | ||||||
| P&N Bank | 1.50 | 3.25 | 3.00 | 3.00 | 4.00 | 3.75 | 4.30 | 4.30 | 4.20 | 4.20 | 4.20 | |
| RACQ Bank | 0.55 | 2.00 | 3.50 | 3.50 | 3.50 | 4.00 | 4.20 | 4.50 | 4.35 | 4.10 | 4.10 | 4.10 |
| Rabobank Australia | 1.25 | 1.75 | 4.00 | 4.00 | 4.00 | 4.30 | 4.30 | 4.40 | 4.10 | 4.20 | 4.30 | 4.60 |
| Rural Bank | 0.50 | 0.60 | 0.70 | 3.80 | 0.90 | 3.85 | 3.80 | 4.50 | 3.30 | 3.35 | 3.35 | 3.35 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 2.05 | 2.15 | 2.20 | 2.60 | 2.90 | 3.90 | 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 | 1.35 | 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 | 4.00 | 4.20 | 4.40 | 4.50 | 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.