Summary: Very large number of rate changes; 174 increases, no decreases; three major banks increase some rates; notable changes made by Newcastle Permanent, Military Bank, Heritage Bank; AMP offers highest rate in survey.
There were a very large number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. All 174 changes took the form of rate increases.
Three of the four major banks increased some of their respective term deposit rates, Westpac being the only exception.
Among the smaller ADIs, the most notable changes came Newcastle Permanent, Military Bank and Heritage Bank.
See our table below for any other changes as well as the latest rates and terms which are available. AMP’s 5-year deposit still 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 | 1.00 | 1.25 | 1.50 | 2.50 | 1.70 | 2.05 | 2.40 | 4.00 | 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 | 3.75 | 4.00 | 4.00 | 4.00 | 4.00 |
| Westpac | 1.00 | 1.25 | 1.50 | 1.60 | 1.70 | 2.00 | 2.30 | 3.35 | 4.00 | 4.00 | 4.00 | 4.00 |
| Military Bank | 3.00 | 3.00 | 3.00 | 3.70 | 3.70 | 4.00 | 4.00 | 4.00 | ||||
| AMP Bank | 0.10 | 0.20 | 2.75 | 2.60 | 3.10 | 3.45 | 3.40 | 4.10 | 4.55 | 4.70 | 4.85 | 4.95 |
| Arab Bank Australia | 1.10 | 1.40 | 2.55 | 2.60 | 2.60 | 3.00 | 3.30 | 3.75 | 4.00 | 4.00 | 4.00 | 4.00 |
| Bank of Melbourne | 1.00 | 1.25 | 1.50 | 1.60 | 1.70 | 2.00 | 2.30 | 3.35 | 4.00 | 4.00 | 4.00 | 4.00 |
| Bank Australia | 2.00 | 2.00 | 3.50 | 3.50 | 3.50 | 3.75 | 3.75 | 3.75 | ||||
| BankSA | 1.00 | 1.25 | 1.50 | 1.60 | 1.70 | 2.00 | 2.30 | 3.35 | 4.00 | 4.00 | 4.00 | 4.00 |
| 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 | 1.05 | 1.30 | 2.40 | 2.65 | 2.60 | 2.85 | 3.05 | 3.45 | ||||
| BankVic | 1.95 | 1.95 | 1.95 | 2.45 | 2.75 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | ||
| Beyond Bank | 2.15 | 2.90 | 3.15 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | ||||
| Bendigo Bank | 0.10 | 0.10 | 0.20 | 1.55 | 0.45 | 0.45 | 2.55 | 3.00 | 2.80 | 2.85 | 2.90 | 2.90 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 1.25 | 1.25 | 2.50 | 3.35 | 4.00 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 2.25 | 1.25 | 3.10 | 3.65 | 4.10 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Citibank | 1.00 | 2.75 | 3.30 | 3.50 | 4.00 | 4.30 | 4.30 | 4.30 | 4.30 | |||
| CUA | 0.60 | 0.95 | 2.35 | 1.60 | 1.65 | 3.35 | 3.00 | 3.90 | 4.00 | 4.00 | 4.00 | 4.00 |
| Defence Bank | 1.85 | 2.55 | 2.60 | 3.20 | 3.50 | |||||||
| Greater Bank | 0.10 | 0.10 | 2.10 | 0.75 | 2.10 | 2.75 | 2.40 | 4.00 | 4.00 | 4.05 | 4.10 | 4.15 |
| Heritage Bank | 1.00 | 1.25 | 2.10 | 1.60 | 1.60 | 2.90 | 3.15 | 4.00 | 4.05 | 4.05 | 4.10 | 4.10 |
| Horizon Credit Union | 1.00 | 1.20 | 1.70 | 1.80 | 2.20 | 2.50 | 3.60 | 4.00 | 4.00 | |||
| HSBC | 0.50 | 0.65 | 2.35 | 2.10 | 2.10 | 2.75 | 3.00 | 3.50 | 3.60 | 3.60 | 3.60 | 3.60 |
| IMB | 1.50 | 2.05 | 3.40 | 2.25 | 2.25 | 2.50 | 2.50 | |||||
| ING Direct | 1.90 | 2.00 | 3.00 | 2.95 | 3.80 | 4.00 | ||||||
| Judo Bank | 2.90 | 3.55 | 3.70 | 4.20 | 4.50 | 4.65 | 4.80 | 4.90 | ||||
| Macquarie Bank | 0.05 | 0.85 | 3.00 | 3.00 | 3.60 | 3.75 | 4.10 | 4.05 | 4.05 | 4.10 | 4.10 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 1.25 | 1.25 | 3.10 | 3.65 | 4.10 | 4.30 | 3.50 | 3.50 | 3.50 |
| MyState | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||
| Newcastle Permanent | 1.00 | 1.00 | 2.25 | 2.25 | 2.25 | 2.85 | 2.85 | 3.90 | 4.25 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.00 | 2.60 | 2.00 | 2.00 | 2.85 | 2.90 | 4.10 | 4.00 | 4.00 | 4.00 | 4.00 | |
| Police Bank | 1.80 | 1.90 | 0.40 | 1.25 | 2.05 | 3.65 | ||||||
| P&N Bank | 1.25 | 2.60 | 2.35 | 2.00 | 3.30 | 2.90 | 3.90 | 3.90 | 4.00 | 4.00 | 4.00 | |
| QT Mutual Bank | 0.20 | 0.80 | 1.75 | 1.75 | 1.75 | 2.70 | 3.00 | 3.40 | 3.45 | 3.50 | 3.60 | 3.85 |
| Rabobank Australia | 1.00 | 1.25 | 2.75 | 2.75 | 2.75 | 3.40 | 3.50 | 4.10 | 4.20 | 4.30 | 4.50 | 4.60 |
| Rural Bank | 0.10 | 0.10 | 0.20 | 1.55 | 0.45 | 0.75 | 2.55 | 3.00 | 2.80 | 2.85 | 2.90 | 2.90 |
| St. George Bank - Except VIC | 1.00 | 1.25 | 1.50 | 1.60 | 1.70 | 2.00 | 2.30 | 3.35 | 4.00 | 4.00 | 4.00 | 4.00 |
| Suncorp Bank | 1.20 | 1.80 | 2.25 | 1.80 | 2.60 | 3.05 | 3.60 | 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 | 1.25 | 2.00 | 3.00 | 3.25 | ||||||||
| UBank | 0.65 | 0.90 | 2.25 | 2.25 | 2.25 | 2.60 | 2.90 | 3.40 | ||||
| Bank First | 0.75 | 1.00 | 2.75 | 2.75 | 3.15 | 3.40 | 3.60 | 3.70 | 3.80 | 3.90 | 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.