Summary: Moderate number of rate changes; 55 increases, no decreases; notable changes made by Bank of Queensland, MyState Bank, Police Bank; AMP now offers highest rate in survey.
There were a moderate number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. All 55 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 Bank of Queensland. BoQ raised rates on its terms of 1 month, 2 months, 3 months and 6 months by 25bps while its 4-month and 5-month rates were both increased by 50bps. 9-month and 1-year rates were raised by 40bps and 15bps respectively.
MyState Bank’s changes were far more restricted but notable all the same. It hiked its 3-month rate by 150bps and raised its 2-year rate by 70bps.
Police Bank’s changes were similar in tone to MyState’s. It hiked its 4-month rate by 150bps and raised its 9-month rate by 35bps.
See our table below for any other changes as well as the latest rates and terms which are available. AMP’s 5-year deposit now offers the highest rate in this week’s survey after it was increased by 10bps.
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 | 1.75 | 0.95 | 0.95 | 2.75 | 2.95 | 3.25 | 3.30 | 3.40 | 3.50 | 3.60 |
| 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 | 2.25 | 3.70 | 3.75 | 3.80 | 3.90 | 4.00 |
| 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 | 0.30 | 0.30 | 1.50 | 1.60 | 1.90 | 2.20 | 3.20 | 3.40 | 3.00 | |||
| 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 | 2.55 | 3.35 | 3.35 | 4.10 | 4.50 | 4.65 | 4.80 | 4.90 | ||||
| Macquarie Bank | 0.05 | 0.85 | 2.75 | 2.75 | 3.35 | 3.40 | 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 | 0.75 | 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.