Summary: Modest number of rate changes; 21 increases, zero decreases; notable changes made by Capricornian, Newcastle Permanent, Macquarie; AMP Bank offers highest rate in survey.
There were a modest number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) again in this week’s YieldReport survey. All 21 changes took the form of rate increases. None of the major banks changes their term deposit rates.
Among the smaller ADIs, the most notable changes came from the Capricornian. Its 6-month rate was raised by 70bps, 6-month and 1-year rates were each increased by 75bps while its 2-year rate was hiked by 100bps.
Newcastle Permanent’s were considerably smaller but significant all the same. Its 1-month and 2-month rates were both raised by 35bps while its 3-month, 6-month and 1-year rates were each increased by 30bps.
Macquarie Bank’s changes were also notable. Its 3-month and 4-month rates were both raised by 50bps while its 3-month, 6-month and 9-monthr rates were each increased by 20bps.
See our table below for any other changes as well as the latest rates and terms which are available. AMP Bank’s 5-year deposit offers 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 | 2.50 | 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 | 1.90 | 2.65 | 2.65 | 3.50 | 3.90 | 4.15 | 4.30 | 4.40 |
| Arab Bank Australia | 0.50 | 0.60 | 1.50 | 1.00 | 1.20 | 2.50 | 2.50 | 3.00 | 3.20 | 3.20 | 3.20 | 3.20 |
| 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 | 1.00 | 1.00 | 1.00 | 2.00 | 2.25 | 3.00 | 3.00 | 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 | 2.50 | 2.30 | 2.30 | 2.30 | 2.30 |
| Bank of Sydney | 0.75 | 1.05 | 1.75 | 1.65 | 1.75 | 2.25 | 2.25 | 2.55 | ||||
| BankVic | 1.50 | 1.50 | 1.50 | 1.50 | 1.50 | 1.60 | 1.55 | 1.55 | 1.55 | 1.55 | ||
| Beyond Bank | 1.25 | 1.75 | 2.25 | 2.75 | 3.00 | 3.00 | 3.00 | 3.00 | ||||
| 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 | 1.75 | 2.75 | 3.00 | 3.00 | 3.00 | |
| BOQ Specialist | 1.75 | 0.40 | 2.50 | 2.75 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | |||
| Citibank | 0.50 | 1.65 | 2.50 | 2.75 | 3.30 | 3.30 | 3.30 | 3.30 | 3.30 | |||
| 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 | 1.00 | 1.00 | 1.05 | 1.40 | 1.70 | 2.40 | 3.20 | |||
| Greater Bank | 0.10 | 0.10 | 0.20 | 0.20 | 0.75 | 1.75 | 2.25 | 2.75 | 3.25 | 3.30 | 3.40 | 3.50 |
| Heritage Bank | 0.20 | 0.30 | 0.55 | 0.90 | 0.40 | 0.40 | 1.75 | 2.50 | 2.75 | 2.75 | 3.00 | 3.00 |
| Horizon Credit Union | 0.80 | 0.90 | 1.00 | 1.00 | 1.20 | 1.50 | 2.50 | 2.80 | 3.00 | |||
| HSBC | 0.25 | 0.30 | 1.10 | 0.65 | 0.65 | 1.50 | 2.00 | 2.50 | 3.00 | 3.00 | 3.00 | 3.00 |
| 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 | 1.90 | 2.65 | 2.90 | 3.55 | 3.85 | 4.00 | 4.15 | 4.25 | ||||
| Macquarie Bank | 0.05 | 0.85 | 2.35 | 2.35 | 2.70 | 3.00 | 3.30 | 3.40 | 3.45 | 3.60 | 3.60 | |
| ME Bank | 0.15 | 0.15 | 1.50 | 0.40 | 0.40 | 2.50 | 2.75 | 3.00 | 3.25 | 3.25 | 3.25 | 3.25 |
| MyState | 0.50 | 0.50 | 1.00 | 1.30 | 2.00 | 1.75 | 2.50 | 3.05 | 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 | 1.35 | 0.70 | 0.70 | 2.00 | 1.60 | 2.75 | 2.80 | 2.95 | 3.00 | 3.00 | |
| Police Bank | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 1.00 | 2.25 | ||||
| P&N Bank | 1.35 | 1.50 | 1.35 | 1.35 | 2.00 | 1.35 | 2.75 | 2.75 | 3.00 | 3.00 | 3.00 | |
| QT Mutual Bank | 0.20 | 0.60 | 1.20 | 1.30 | 1.50 | 1.80 | 2.30 | 3.00 | 3.20 | 3.40 | 3.60 | 3.85 |
| Rabobank Australia | 0.50 | 0.50 | 1.75 | 1.75 | 1.75 | 2.40 | 2.70 | 3.25 | 3.30 | 3.35 | 3.50 | 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 | 0.25 | 0.45 | 1.25 | 0.45 | 0.45 | 2.10 | 2.20 | 2.70 | 3.15 | 3.25 | 3.35 | 3.45 |
| Teachers Mutual Bank | 0.75 | 0.75 | 0.75 | 1.00 | 1.50 | 2.30 | 3.20 | 3.80 | ||||
| The Capricornian | 1.00 | 1.50 | 2.50 | 3.00 | ||||||||
| UBank | 0.40 | 0.65 | 1.55 | 1.55 | 1.55 | 2.40 | 2.65 | 3.20 | ||||
| Bank First | 0.15 | 0.20 | 1.75 | 1.75 | 2.25 | 2.50 | 2.75 | 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.