Summary: Modest number of rate changes; 34 increases, no decreases; notable changes made by Great Southern, Horizon; AMP 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) in this week’s YieldReport survey. All 34 changes took the form of rate increases
None of the major banks changed their respective term deposit rates.
Among the smaller ADIs, the most notable changes came from Great Southern Bank. Its rates terms of 3 months to , 5 years were raised by amounts ranging from 40bps to 70bps with the exception of the 9-month rate which was only increased by 5bps.
Horizon Credit Union’s changes were just as broad. Its 1-month and 2-month rates were increased by 70bps and 90bps respectively while 3-month and 4-month rates were both raised by 20bps. 6-month and 9-month rates were both increased by 30bps; the 1-year rate had 40bps added to it; the 2-year rate was raised by 60bps and the 3-year rate was hiked by 100bps.
See our table below for any other changes as well as the latest rates and terms which are available. AMP’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 | 0.50 | 0.60 | 0.75 | 2.50 | 1.05 | 1.25 | 1.50 | 2.00 | 2.25 | 2.25 | 2.50 | 2.50 |
| CBA | 1.00 | 1.25 | 1.50 | 1.60 | 1.70 | 2.00 | 2.30 | 2.30 | 4.00 | 4.00 | 4.00 | 4.00 |
| NAB | 1.00 | 1.20 | 1.50 | 1.60 | 1.65 | 2.05 | 2.40 | 3.35 | 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 | 1.50 | 1.50 | 1.50 | 2.90 | 2.90 | 3.40 | 3.40 | 3.40 | ||||
| AMP Bank | 0.10 | 0.20 | 0.35 | 2.60 | 3.10 | 3.10 | 3.25 | 4.10 | 4.55 | 4.70 | 4.85 | 4.95 |
| Arab Bank Australia | 0.80 | 0.90 | 2.25 | 2.00 | 2.00 | 2.75 | 3.00 | 3.50 | 3.50 | 3.50 | 3.60 | 3.70 |
| 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 | 3.00 | 3.00 | 3.00 | 3.50 | 3.50 | 3.50 | ||||
| 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 | 2.40 | 2.40 | 3.70 | 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 | 0.50 | 0.55 | 2.00 | 1.00 | 1.00 | 2.25 | 3.20 | 3.65 | 3.30 | 3.30 | 3.30 | |
| BOQ Specialist | 2.00 | 1.00 | 3.10 | 3.20 | 3.80 | 3.50 | 3.50 | 3.50 | 3.50 | |||
| Citibank | 1.00 | 2.00 | 2.85 | 3.00 | 3.70 | 4.10 | 4.10 | 4.10 | 4.10 | |||
| 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 | 0.45 | 0.55 | 2.00 | 1.05 | 1.05 | 2.50 | 2.90 | 3.40 | 3.50 | 3.50 | 3.50 | 3.50 |
| 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 | 1.15 | 1.25 | 2.40 | 2.25 | 3.25 | 3.30 | ||||||
| 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 | 3.65 | 4.10 | 4.05 | 4.05 | 4.10 | 4.10 | |
| ME Bank | 0.50 | 0.55 | 2.00 | 1.00 | 1.00 | 3.10 | 3.20 | 3.90 | 3.50 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 2.50 | 1.30 | 2.00 | 2.70 | 2.50 | 3.60 | 4.05 | |||
| Newcastle Permanent | 0.50 | 0.50 | 2.10 | 1.20 | 1.20 | 2.70 | 2.00 | 3.65 | 3.00 | 3.00 | 3.00 | 3.00 |
| People's Choice Credit Union | 0.70 | 2.60 | 1.60 | 1.60 | 2.70 | 2.30 | 4.00 | 3.30 | 3.40 | 3.40 | 3.50 | |
| Police Bank | 1.80 | 1.90 | 0.40 | 1.25 | 2.05 | 3.65 | ||||||
| P&N Bank | 1.00 | 2.30 | 2.10 | 1.85 | 2.90 | 2.75 | 3.65 | 3.65 | 3.75 | 3.75 | 3.75 | |
| 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 | 2.50 | 2.50 | 2.50 | 3.15 | 3.25 | 3.90 | 4.10 | 4.20 | 4.40 | 4.50 |
| 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 | 0.80 | 1.65 | 2.10 | 1.65 | 2.45 | 2.90 | 3.20 | 3.60 | 3.90 | 3.90 | 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 | 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 | 0.50 | 0.70 | 2.60 | 2.60 | 2.95 | 3.15 | 3.30 | 3.40 | 3.50 | 3.60 | 3.75 |
*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.