Summary: Modest number of rate changes; 16 increases, 3 decreases; notable changes made by Macquarie, Police Bank; AMP offers equal highest rate in survey.
There were a modest 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 19 changes which took place, 16 took the form of rate increases. None of the major banks changed their term deposit rates.
Among the smaller ADIs, the most notable changes came from Macquarie Bank. Its rates on terms of 2 years and longer were all raised by 50bps each.
Police Bank’s changes were limited to just the one increase but it was a large one. It’s 9-month rate was raised by 55bps.
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 its rate was raised by 5bps.
TERM DEPOSITS 250K TO $1M+
| 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 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.10 | 0.10 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 |
| CBA | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.25 | 1.50 | 1.75 | 2.00 | 2.25 |
| NAB | 0.20 | 0.25 | 0.40 | 0.45 | 0.55 | 0.80 | 1.05 | 3.00 | 2.00 | 2.00 | 2.00 | 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 | 3.00 | 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 | 1.25 | 1.00 | 1.00 | 2.25 | 2.75 | 3.25 | 3.35 | 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 | 0.25 | 0.40 | 0.55 | 0.55 | 0.55 | 1.00 | 0.75 | 3.00 | 2.30 | 2.30 | 2.30 | 2.30 |
| Bank of Sydney | 1.05 | 1.25 | 2.05 | 2.00 | 2.10 | 2.60 | 2.75 | 3.05 | ||||
| BankVic | 1.95 | 1.95 | 1.95 | 1.95 | 1.95 | 2.50 | 2.00 | 2.00 | 2.00 | 2.00 | ||
| Beyond Bank | 1.50 | 2.25 | 2.75 | 3.00 | 3.35 | 3.25 | 3.25 | 3.25 | ||||
| Bendigo Bank | 0.10 | 0.10 | 0.20 | 1.20 | 0.45 | 0.45 | 2.00 | 2.50 | 2.80 | 2.85 | 2.90 | 2.90 |
| Bank of Queensland | 0.05 | 0.05 | 1.25 | 0.10 | 0.10 | 2.00 | 2.80 | 3.30 | 3.00 | 3.00 | 3.00 | |
| BOQ Specialist | 1.50 | 0.40 | 2.70 | 3.00 | 3.30 | 3.25 | 3.25 | 3.25 | 3.25 | |||
| Citibank | 0.50 | 1.65 | 2.70 | 3.00 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | |||
| CUA | 0.60 | 0.75 | 1.50 | 0.70 | 0.70 | 2.50 | 2.70 | 3.00 | 3.30 | 3.40 | 3.50 | 3.60 |
| Defence Bank | 1.30 | 1.90 | 2.10 | 2.80 | 3.30 | |||||||
| Greater Bank | 0.10 | 0.10 | 0.20 | 0.20 | 0.75 | 1.75 | 2.25 | 3.00 | 3.25 | 3.30 | 3.40 | 3.50 |
| Heritage Bank | 0.20 | 0.30 | 0.80 | 1.30 | 0.80 | 1.00 | 2.15 | 2.75 | 3.00 | 3.00 | 3.25 | 3.25 |
| Horizon Credit Union | 0.20 | 0.25 | 1.40 | 1.50 | 1.60 | 1.70 | 3.00 | 2.80 | 2.50 | |||
| HSBC | 0.50 | 0.65 | 1.85 | 1.65 | 1.65 | 2.25 | 2.75 | 3.25 | 3.50 | 3.50 | 3.50 | 3.50 |
| IMB | 0.10 | 0.10 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 1.25 | 1.50 | 1.75 | 2.00 |
| ING Direct | 1.15 | 1.25 | 2.40 | 2.25 | 3.25 | 3.30 | ||||||
| Judo Bank | 2.25 | 2.80 | 3.00 | 3.60 | 4.00 | 4.15 | 4.30 | 4.40 | ||||
| Macquarie Bank | 0.05 | 0.85 | 2.35 | 2.35 | 2.85 | 3.05 | 3.65 | 4.05 | 4.05 | 4.10 | 4.10 | |
| ME Bank | 0.15 | 0.15 | 1.50 | 0.40 | 0.40 | 2.70 | 3.00 | 3.50 | 3.25 | 3.25 | 3.25 | 3.25 |
| 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 | 1.50 | 1.20 | 1.20 | 2.20 | 2.00 | 3.05 | 2.80 | 2.80 | 2.80 | 2.80 |
| People's Choice Credit Union | 0.40 | 1.70 | 1.00 | 1.00 | 2.50 | 1.60 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | |
| Police Bank | 0.95 | 0.40 | 0.40 | 1.25 | 1.70 | 2.75 | ||||||
| P&N Bank | 1.00 | 1.85 | 1.85 | 1.35 | 2.40 | 1.35 | 3.10 | 3.10 | 3.50 | 3.50 | 3.50 | |
| QT Mutual Bank | 0.20 | 0.80 | 1.50 | 1.50 | 1.50 | 2.30 | 2.75 | 3.00 | 3.20 | 3.40 | 3.60 | 3.85 |
| Rabobank Australia | 0.50 | 0.50 | 1.75 | 1.75 | 1.75 | 2.70 | 3.00 | 3.30 | 3.70 | 3.70 | 3.70 | 4.00 |
| Rural Bank | 0.10 | 0.10 | 0.20 | 1.20 | 0.45 | 0.75 | 2.00 | 2.50 | 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 | 0.50 | 1.50 | 0.75 | 0.75 | 2.40 | 2.55 | 3.00 | 3.30 | 3.35 | 3.40 | 3.45 |
| Teachers Mutual Bank | 1.10 | 1.10 | 1.10 | 1.35 | 1.50 | 2.30 | 3.20 | 3.80 | ||||
| The Capricornian | 1.00 | 1.50 | 2.50 | 3.00 | ||||||||
| UBank | 0.65 | 0.90 | 2.25 | 2.25 | 2.25 | 2.60 | 2.90 | 3.40 | ||||
| Bank First | 0.15 | 0.20 | 2.00 | 2.00 | 2.50 | 2.75 | 3.00 | 3.00 | 3.25 | 3.50 | 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.