Summary: Very large number of rate changes again; 108 increases, 1 decrease; CBA, Westpac raise rates; notable changes made by Bank of Melbourne, BankSA, St George Bank; Judo still 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) again in this week’s YieldReport survey. Of the 109 changes which took place, 108 took the form of rate increases.
Two of the major banks changed their respective term deposit rates. Commonwealth Bank raised its 4-year and 5-year rates each by 150bps while Westpac raised rates across all of its term deposits by amounts ranging from 80bps to 250bps.
Among the smaller ADIs, the most notable changes came from Westpac subsidiaries Bank of Melbourne, BankSA and St George Bank. Their changes were identical to those made by Westpac.
See our table below for any other changes as well as the latest rates and terms which are available. Judo’s 5-year deposit still 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 | 3.90 | 4.45 | 4.60 | 4.75 | 4.85 |
| 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 | 2.75 | 2.75 | 2.75 | 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 | 2.00 | 2.75 | 3.00 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | ||||
| 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 | 0.25 | 0.30 | 1.75 | 0.50 | 0.50 | 2.00 | 2.80 | 3.50 | 3.30 | 3.30 | 3.30 | |
| BOQ Specialist | 1.75 | 0.75 | 3.00 | 3.00 | 3.75 | 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 | 1.00 | 1.70 | 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 | 2.60 | 2.60 | 3.10 | 3.25 | 3.90 | 4.05 | 4.05 | 4.10 | 4.10 | |
| ME Bank | 0.25 | 0.30 | 1.75 | 0.75 | 0.75 | 3.00 | 3.10 | 3.65 | 3.50 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 1.00 | 1.30 | 2.00 | 2.70 | 2.50 | 3.60 | 3.35 | |||
| 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 | 0.40 | 0.40 | 1.25 | 1.70 | 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 | 0.75 | 2.25 | 2.25 | 2.25 | 3.00 | 3.20 | 3.75 | 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.