Summary: Modest number of rate changes; 23 increases, 10 decreases; Commonwealth reduces some rates; notable rate changes from Suncorp, Bendigo, ING; Judo offers highest rate in survey.
There were a modest number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) again in this week’s YieldReport survey. Of the 33 changes which were implemented, 33 took the form of rate increases.
One of the major banks changed its term deposit rates this week. Commonwealth Bank reduced rates on its terms of 6 months to 4 years by amounts ranging from 10bps to 25bps.
Among the smaller ADIs, the most notable changes came from Suncorp. Other changes were made by Bendigo Bank and ING Direct.
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 | 3.05 | 3.80 | 3.50 | 3.55 | 3.80 | 4.40 | 4.05 | 4.05 | 4.05 | 4.05 |
| CBA | 1.25 | 1.50 | 3.00 | 3.10 | 3.20 | 3.50 | 3.75 | 3.75 | 4.00 | 4.00 | 4.00 | 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 | 3.00 | 3.00 | 3.00 | 4.25 | 4.00 | 4.25 | 4.20 | 4.20 | ||||
| AMP Bank | 0.10 | 0.20 | 3.35 | 3.35 | 4.40 | 4.40 | 4.50 | 4.60 | 4.60 | 4.70 | 4.70 | 4.70 |
| Arab Bank Australia | 1.50 | 1.75 | 2.85 | 3.00 | 3.20 | 3.50 | 3.75 | 4.00 | 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 | 3.20 | 3.75 | 3.75 | 4.20 | 4.20 | 4.20 | ||||||
| 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 | 2.50 | 2.85 | 3.88 | 3.80 | 4.00 | 4.33 | 4.25 | 4.35 | ||||
| BankVic | 3.20 | 3.20 | 3.20 | 4.00 | 4.00 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | ||
| Beyond Bank | 3.30 | 3.85 | 3.85 | 4.25 | 4.10 | 4.00 | 4.00 | 4.00 | ||||
| Bendigo Bank | 0.50 | 0.60 | 0.70 | 2.25 | 0.90 | 1.00 | 2.95 | 3.75 | 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 | 1.25 | 3.10 | 3.75 | 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 | 2.50 | 2.50 | 2.50 | 3.60 | 3.60 | 4.10 | 4.25 | 4.25 | 4.25 | 4.25 |
| 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 | 4.10 | 3.80 | |||
| HSBC | 1.85 | 1.85 | 3.25 | 2.85 | 2.85 | 3.50 | 3.75 | 4.25 | 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 | 3.45 | 3.50 | 4.10 | 4.10 | 4.40 | 4.40 | ||||||
| Judo Bank | 3.90 | 4.35 | 4.40 | 4.60 | 4.80 | 4.85 | 4.85 | 4.95 | ||||
| Macquarie Bank | 0.05 | 0.85 | 3.90 | 3.85 | 4.25 | 4.25 | 4.50 | 4.25 | 3.85 | 3.85 | 3.90 | |
| 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 | 4.35 | 4.05 | |||
| Newcastle Permanent | 1.00 | 1.00 | 2.50 | 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 | 2.75 | 1.90 | 1.90 | 3.00 | 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 | 3.00 | 3.00 | 3.00 | 3.85 | 4.00 | 4.35 | 4.35 | 4.35 | 4.35 | 4.35 |
| Rabobank Australia | 1.25 | 1.50 | 3.70 | 3.70 | 3.70 | 4.20 | 4.25 | 4.35 | 4.40 | 4.50 | 4.65 | 4.85 |
| Rural Bank | 0.50 | 0.60 | 0.70 | 2.25 | 0.90 | 1.00 | 2.95 | 3.75 | 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 | 2.35 | 3.00 | 2.70 | 3.15 | 4.10 | 4.00 | 4.05 | 4.05 | 4.05 | 4.05 |
| Teachers Mutual Bank | 1.10 | 1.10 | 1.10 | 1.35 | 2.00 | 3.50 | 3.70 | 3.80 | ||||
| The Capricornian | 2.00 | 2.70 | 3.70 | 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 | 3.85 | 2.95 | 4.30 | 4.35 | 4.55 | 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.