Summary: Very small number of rate changes; 15 increases, 1 decrease; notable changes made by ANZ, Police Bank, BankVic; Judo offers highest rate in survey.
There were a very small number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 16 changes which took place, 15 took the form of rate increases.
One of the major banks changed its term deposit rates. ANZ raised its rates across all of its term deposits, with terms of 2 years and 3 years receiving the largest increase of 75bps while terms of 4 years and 5 years received the lowest increase of 25bps.
Among the smaller ADIs, the most notable changes came from Police Bank. It raised its 3-month rate by 85bps and its 1-year rate by 40bps.
Bank of Sydney’s changes were not nearly as large but they were still quite notable. Its 2-month rate had 5bps added to it; the 3-month rate was raised by 35bps; 4-month and 5-month rates were both increased by 50bps; and 6-month, 9-month and 1-year rates were raised by 25bps, 40bps and 50bps respectively.
BankVic’s change was the only other change of note; its 9-month rate was raised by 80bps.
See our table below for any other changes as well as the latest rates and terms which are available. Judo’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 | 0.80 | 1.05 | 1.25 | 1.50 | 2.00 | 2.25 | 2.25 | 2.50 | 2.50 |
| CBA | 0.50 | 0.60 | 0.75 | 0.80 | 1.05 | 1.25 | 1.50 | 1.50 | 2.25 | 2.25 | 2.50 | 2.50 |
| NAB | 0.50 | 0.55 | 0.80 | 0.80 | 1.00 | 1.25 | 1.60 | 3.25 | 2.50 | 2.50 | 2.50 | 2.50 |
| Westpac | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.10 | 1.50 | 1.75 | 2.00 | 2.25 |
| Military Bank | 0.40 | 0.40 | 0.40 | 2.60 | 2.60 | 3.00 | 3.40 | 3.40 | ||||
| AMP Bank | 0.10 | 0.20 | 0.35 | 2.40 | 2.90 | 2.90 | 3.10 | 3.70 | 4.05 | 4.20 | 4.35 | 4.45 |
| 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 | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.10 | 1.50 | 1.75 | 2.00 | 2.25 |
| Bank Australia | 2.00 | 2.00 | 2.75 | 2.75 | 2.75 | 3.50 | 3.50 | 3.50 | ||||
| BankSA | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.10 | 1.50 | 1.75 | 2.00 | 2.25 |
| Bankwest | 0.50 | 0.60 | 0.85 | 1.10 | 1.10 | 1.50 | 1.50 | 3.25 | 2.30 | 2.30 | 2.30 | 2.30 |
| Bank of Sydney | 1.05 | 1.30 | 2.40 | 2.50 | 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 | 3.25 | 3.35 | 3.35 | 3.35 | 3.35 | ||||
| Bendigo Bank | 0.10 | 0.10 | 0.20 | 1.55 | 0.45 | 0.45 | 2.55 | 3.00 | 2.75 | 2.80 | 2.85 | 2.85 |
| 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 | 0.50 | 1.65 | 2.70 | 3.00 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | |||
| 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 | 1.60 | 2.30 | 2.60 | 3.20 | 3.50 | |||||||
| Greater Bank | 0.10 | 0.10 | 1.60 | 1.60 | 0.75 | 1.75 | 2.25 | 3.25 | 3.25 | 3.80 | 3.90 | 4.00 |
| Heritage Bank | 0.20 | 0.30 | 1.60 | 0.80 | 0.80 | 2.00 | 2.30 | 3.00 | 3.50 | 3.50 | 3.50 | 3.50 |
| Horizon Credit Union | 0.30 | 0.30 | 1.50 | 1.60 | 1.70 | 1.80 | 3.20 | 2.80 | 2.50 | |||
| 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 | 3.10 | 1.25 | 1.50 | 1.75 | 2.00 | |||||
| ING Direct | 1.15 | 1.25 | 2.40 | 2.25 | 3.25 | 3.30 | ||||||
| Judo Bank | 2.55 | 3.10 | 3.25 | 3.90 | 4.40 | 4.55 | 4.70 | 4.80 | ||||
| Macquarie Bank | 0.05 | 0.85 | 2.60 | 2.60 | 3.10 | 3.25 | 3.80 | 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 | 2.00 | 1.20 | 1.20 | 2.65 | 2.00 | 3.50 | 2.80 | 2.80 | 2.80 | 2.80 |
| People's Choice Credit Union | 0.50 | 2.00 | 1.30 | 1.30 | 2.70 | 2.00 | 3.30 | 3.30 | 3.35 | 3.40 | 3.40 | |
| Police Bank | 1.80 | 0.40 | 0.40 | 1.25 | 1.70 | 3.40 | ||||||
| P&N Bank | 1.00 | 2.10 | 1.85 | 1.65 | 2.70 | 2.25 | 3.40 | 3.40 | 3.50 | 3.50 | 3.50 | |
| QT Mutual Bank | 0.20 | 0.80 | 1.50 | 1.50 | 1.50 | 2.60 | 2.90 | 3.25 | 3.30 | 3.40 | 3.60 | 3.85 |
| Rabobank Australia | 0.50 | 0.50 | 2.00 | 2.00 | 2.00 | 2.85 | 3.00 | 3.65 | 3.90 | 3.90 | 4.20 | 4.20 |
| 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 | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.10 | 1.50 | 1.75 | 2.00 | 2.25 |
| Suncorp Bank | 0.50 | 0.80 | 1.80 | 1.35 | 1.35 | 2.50 | 2.85 | 3.25 | 3.50 | 3.55 | 3.60 | 3.65 |
| 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 | 2.35 | 2.35 | 2.80 | 3.05 | 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.