Summary: Modest number of rate changes; 12 increases, 4 decreases; notable changes made by AMP, Beyond, Judo; AMP, Judo offer 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 16 changes which took place, 12 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 the AMP Bank. Its 5-month rate was hiked by 90bps, its 6-month rate was raised by 15bps and the 9-month rate was increased by 35bps. 1-year and 2-year rates both had 10bps added to them.
Beyond Bank changes were also fairly limited. Rates on its 3-month, 6-month and 9-month deposits were each increased by 25bps while its 2-year rate was raised by 10bps.
Judo Bank moved in the opposite direction. Rates on its deposits from 1 year to 5 year were all trimmed by 5bps each with the exception of its 3-year rate which was lowered by 10bps.
See our table below for any other changes as well as the latest rates and terms which are available. 5-year deposits offered by AMP Bank and Judo Bank both offer the highest rate in this week’s survey.
| 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 | 3.40 | 3.40 | ||||
| AMP Bank | 0.10 | 0.20 | 0.35 | 0.35 | 2.80 | 2.80 | 3.00 | 3.60 | 4.00 | 4.15 | 4.30 | 4.40 |
| 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 | 0.08 | 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 | 0.35 | 0.35 | 1.30 | 1.30 | 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 | 3.25 | 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 | 0.15 | 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 | 2.00 | 2.70 | 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 | 3.55 | 3.55 | 3.60 | 3.60 | |
| 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 | 1.75 | 2.50 | 3.25 | 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 | 0.95 | 0.40 | 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 | 3.00 | 3.00 | 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.