Summary: Large number of rate changes; 24 increases, 34 reductions; notable rate changes from Arab Bank, Rural Bank; Military Bank has 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 58 changes which took place, 34 took the form of rate reductions.
None of the major banks changed their term-deposit rates this week.
Among the smaller ADIs, the most notable changes came from Arab Bank. Rates on its terms of 3 months out to 1 year were raised by amounts ranging from 30bps to 100bps.
Another notable set of changes was made by Rural Bank. Its 3-month rate was raised by 50bps, 6-month and 1-year rates wer raised by 15bps and the 9-month rate was increased by 30bps. Rates on terms of 2-years and longer were all increased by 65bps.
See our table below for any other changes as well as the latest rates and terms which are available. Military Bank’s 2-year and 3-year rates 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 | 3.50 | 4.20 | 3.70 | 4.10 | 4.00 | 4.85 | 4.50 | 4.00 | 4.00 | 4.00 |
| CBA | 1.25 | 1.50 | 3.50 | 3.55 | 3.65 | 3.75 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 |
| NAB | 1.25 | 1.45 | 3.50 | 3.60 | 3.70 | 4.00 | 4.00 | 4.85 | 4.00 | 4.00 | 4.00 | 4.00 |
| Westpac | 1.25 | 1.45 | 3.50 | 3.55 | 3.65 | 3.75 | 4.00 | 4.25 | 4.00 | 4.00 | 4.00 | 4.00 |
| Military Bank | 4.90 | 4.90 | 5.00 | 5.10 | 5.15 | 5.20 | 5.35 | 5.35 | ||||
| AMP Bank | 0.10 | 0.20 | 4.85 | 4.85 | 5.15 | 5.15 | 5.10 | 5.20 | 5.05 | 5.05 | 5.05 | 5.05 |
| Arab Bank Australia | 2.50 | 2.75 | 5.00 | 5.05 | 5.10 | 5.20 | 5.25 | 5.30 | 4.10 | 4.10 | 4.10 | 4.10 |
| Bank of Melbourne | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 4.05 | 4.30 | 4.05 | 4.05 | 4.05 | 4.05 |
| Bank Australia | 4.75 | 5.00 | 5.00 | 5.00 | 4.50 | 4.00 | ||||||
| BankSA | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 4.05 | 4.30 | 4.05 | 4.05 | 4.05 | 4.05 |
| Bankwest | 1.25 | 1.50 | 3.50 | 3.00 | 3.00 | 4.00 | 4.00 | 4.75 | 4.00 | 4.00 | 4.00 | 4.00 |
| Bank of Sydney | 1.75 | 1.75 | 4.85 | 4.00 | 4.00 | 5.00 | 4.00 | 4.30 | ||||
| BankVic | 3.45 | 3.45 | 3.45 | 4.25 | 4.25 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | ||
| Beyond Bank | 4.15 | 4.50 | 4.60 | 4.80 | 4.40 | 4.00 | 4.00 | 4.00 | ||||
| Bendigo Bank | 1.25 | 1.90 | 3.50 | 4.30 | 3.00 | 4.20 | 4.10 | 4.90 | 3.95 | 4.00 | 4.00 | 4.00 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.40 | 1.25 | 4.80 | 4.90 | 5.00 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 4.50 | 4.75 | 4.75 | 5.10 | 5.20 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Citibank | 1.25 | 4.25 | 4.75 | 4.75 | 5.05 | 4.65 | 4.65 | 4.65 | 4.65 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.65 | 2.95 | 2.95 | 5.10 | 5.15 | 5.25 | 4.45 | 4.20 | 4.20 | 4.20 |
| Defence Bank | 3.85 | 4.20 | 4.25 | 4.65 | 5.00 | |||||||
| Greater Bank | 1.00 | 1.00 | 3.50 | 3.00 | 3.00 | 4.20 | 3.60 | 5.00 | 5.20 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.35 | 3.35 | 4.80 | 3.65 | 5.15 | 4.20 | 4.00 | 4.00 | 4.00 |
| Horizon Credit Union | 1.25 | 1.50 | 3.70 | 3.70 | 4.20 | 3.70 | 4.75 | 4.00 | 3.90 | |||
| HSBC | 1.85 | 2.00 | 4.00 | 3.75 | 3.75 | 4.40 | 4.50 | 4.60 | 4.10 | 4.10 | 4.10 | 4.10 |
| IMB | 3.75 | 4.25 | 4.75 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.95 | 4.95 | 5.10 | 5.15 | 5.25 | 5.10 | ||||||
| Judo Bank | 4.75 | 4.95 | 4.95 | 5.10 | 5.15 | 5.15 | 5.15 | 5.15 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.70 | 4.70 | 4.70 | 4.75 | 4.80 | 3.90 | 3.60 | 3.60 | 3.65 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.75 | 1.25 | 3.10 | 5.10 | 5.20 | 4.30 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 2.50 | 4.40 | 4.60 | 4.75 | 4.85 | 4.90 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 4.00 | 3.00 | 3.00 | 3.80 | 3.60 | 5.00 | 5.20 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.35 | 3.35 | 4.80 | 3.65 | 5.15 | 4.20 | 4.00 | 4.00 | 4.00 | |
| Police Bank | 3.50 | 3.50 | 1.90 | 3.75 | 2.05 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.65 | 3.75 | 3.40 | 4.80 | 5.00 | 4.55 | 4.55 | 4.20 | 4.20 | 4.20 | |
| RACQ Bank | 0.55 | 1.60 | 4.25 | 3.50 | 3.50 | 4.50 | 4.50 | 4.75 | 4.20 | 3.95 | 3.95 | 3.95 |
| Rabobank Australia | 2.00 | 2.10 | 4.65 | 4.65 | 4.65 | 4.90 | 4.90 | 5.00 | 4.90 | 4.90 | 5.00 | 5.10 |
| Rural Bank | 1.25 | 1.90 | 3.50 | 4.30 | 3.00 | 4.20 | 4.10 | 4.90 | 3.95 | 4.00 | 4.00 | 4.00 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 4.05 | 4.30 | 4.05 | 4.05 | 4.05 | 4.05 |
| Suncorp Bank | 1.30 | 1.90 | 3.15 | 4.45 | 3.45 | 3.75 | 4.60 | 5.00 | 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 | 3.00 | 3.25 | 4.00 | 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 | 4.75 | 4.75 | 4.95 | 4.95 | 5.05 | 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.