Summary: Large number of rate changes; 94 increases, 1 decrease; Judo offers still 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 95 change which took place, 94 took the form of rate increases.
One of the major banks changed its term deposit rates this week. Westpac raised its rates on terms of 1 month out to one year by amounts ranging from 20bps to 55bps.
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 and very similar to Westpac’s changes above. However, their rate rises were an additional 5bps more than Westpac’s and they included some small increases on terms of 2 years and longer.
Other notable changes were made by BankVic, Horizon Credit Union and RACQ.
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 still offers the highest rate in this week’s survey after its 5-year rate was increased by 5bps.
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 | 1.25 | 1.45 | 2.00 | 3.60 | 2.15 | 2.55 | 2.90 | 4.10 | 4.00 | 4.00 | 4.00 | 4.00 |
| CBA | 1.25 | 1.50 | 2.00 | 2.10 | 2.20 | 2.50 | 2.80 | 2.80 | 4.00 | 4.00 | 4.00 | 4.00 |
| NAB | 1.25 | 1.45 | 2.00 | 2.10 | 2.15 | 2.55 | 2.90 | 4.00 | 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 | 4.00 | 4.00 | 4.00 | 4.20 | 4.20 | ||||
| AMP Bank | 0.10 | 0.20 | 3.35 | 3.35 | 3.75 | 3.95 | 3.95 | 4.10 | 4.20 | 4.00 | 4.00 | 4.00 |
| 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 | 1.00 | 1.10 | 1.80 | 1.60 | 1.60 | 3.20 | 3.20 | 4.10 | 3.00 | 3.00 | 3.00 | 3.00 |
| Bank of Sydney | 2.25 | 2.50 | 3.40 | 3.50 | 3.60 | 4.00 | 4.05 | 4.10 | ||||
| BankVic | 2.95 | 2.95 | 2.95 | 3.75 | 3.75 | 4.25 | 4.25 | 4.25 | 4.25 | 4.25 | ||
| Beyond Bank | 3.05 | 3.60 | 3.60 | 4.10 | 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 | 1.25 | 1.25 | 3.75 | 3.85 | 4.00 | 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 | 3.40 | 3.90 | 3.90 | 4.20 | 4.30 | 4.30 | 4.30 | 4.30 | |||
| 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 | 3.00 | 3.40 | 3.60 | 4.20 | 4.20 | |||||||
| 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 | 1.00 | 1.25 | 2.10 | 2.00 | 2.00 | 3.60 | 3.15 | 4.10 | 4.05 | 4.05 | 4.10 | 4.10 |
| Horizon Credit Union | 1.25 | 1.50 | 2.20 | 2.30 | 2.80 | 3.00 | 4.00 | 4.10 | 3.80 | |||
| HSBC | 1.85 | 1.85 | 3.05 | 2.60 | 2.60 | 3.25 | 3.50 | 4.00 | 4.10 | 4.10 | 4.10 | 4.10 |
| IMB | 2.50 | 3.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 3.30 | 3.40 | 3.95 | 3.90 | 4.15 | 4.25 | ||||||
| Judo Bank | 3.70 | 4.15 | 4.20 | 4.45 | 4.75 | 4.60 | 4.70 | 4.90 | ||||
| Macquarie Bank | 0.05 | 0.85 | 3.50 | 3.40 | 4.00 | 4.10 | 4.25 | 3.90 | 3.85 | 3.85 | 3.90 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 3.65 | 1.25 | 3.10 | 3.75 | 4.10 | 4.30 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 2.50 | 1.30 | 2.00 | 3.35 | 3.60 | 3.90 | 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 | 1.00 | 2.60 | 3.40 | 2.00 | 2.85 | 2.90 | 4.20 | 4.00 | 4.00 | 4.00 | 4.00 | |
| Police Bank | 2.75 | 1.90 | 1.90 | 3.00 | 2.05 | 3.95 | ||||||
| P&N Bank | 1.50 | 3.00 | 2.75 | 2.90 | 3.75 | 3.75 | 4.10 | 4.10 | 4.10 | 4.10 | 4.10 | |
| RACQ Bank | 0.35 | 1.40 | 2.50 | 2.50 | 2.50 | 3.35 | 3.65 | 4.20 | 4.20 | 4.20 | 4.20 | 4.20 |
| Rabobank Australia | 1.25 | 1.50 | 3.50 | 3.50 | 3.50 | 4.00 | 4.10 | 4.30 | 4.35 | 4.40 | 4.60 | 4.80 |
| 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 | 3.50 | 2.95 | 3.60 | 3.70 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 |
*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.