Summary: Moderate number of rate changes; 37 increases, 5 decreases; notable changes made by Bank Australia, Bank of Sydney, Greater Bank; Judo offers highest rate in survey.
There were a moderate number of rate changes again made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 42 changes which took place, 37 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 Australia. It raised its 3-month rate by 75bps, its 4-month rate by 100bps and its 5-month rate by a whopping 175bps. Its 1-year and 2-year rates were also raised by 25bps and 15bps respectively.
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.
Greater Bank’s increases were much more uniform. Its rates on terms of 2 months to 1 year were all raised by 25bps.
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 | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.25 | 1.50 | 1.75 | 2.25 | 2.25 |
| 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 | 1.95 | 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 | 1.7 | 3.1 | 1.25 | 1.50 | 1.75 | 2.00 | |||||
| ING Direct | 1.15 | 1.25 | 2.40 | 2.25 | 3.25 | 3.30 | ||||||
| Judo Bank | 2.35 | 3.00 | 3.15 | 3.75 | 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 | 0.95 | 0.40 | 0.40 | 1.25 | 1.70 | 3.00 | ||||||
| P&N Bank | 1.00 | 2.10 | 1.85 | 1.65 | 2.70 | 2.25 | 3.40 | 3.50 | 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.