Summary: Moderate number of rate changes; 52 increases, 4 decreases; notable changes made by Heritage, UBank; Judo offers highest rate in survey.
There were a moderate number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 56 changes which took place, 52 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 Heritage Bank. It increased its 4-month rate by 30bps; its 9-month rate was raised by 55bps; its 1-year rate was raised by 45bps; 2-year and 3-year rates were increased by 70bps; 4-year and 4-year rates were raised by 75bps and 50bps respectively.
UBank’s changes were restricted to terms of up to 1 year. Its 3-month rate was increased by 65bps; the 4-month rate was raised by 55bps; the 5-month rate was increased by 45bps while UBank’s rates on terms of 6-months, 9 months and 1 year were increased by 60bps, 85bps and 55bps.
See our table below for any other changes as well as the latest rates and terms which are available. Judo 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 | 2.60 | 3.00 | 3.00 | ||||
| AMP Bank | 0.10 | 0.20 | 0.35 | 0.35 | 1.90 | 1.90 | 2.50 | 2.90 | 3.65 | 3.90 | 4.05 | 4.15 |
| 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 | 1.50 | 2.00 | 2.50 | 3.00 | 3.00 | 3.00 | 3.00 | ||||
| Bendigo Bank | 0.10 | 0.10 | 0.20 | 1.20 | 0.45 | 0.45 | 2.00 | 2.25 | 2.55 | 2.70 | 2.80 | 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 | 1.25 | 0.20 | 0.20 | 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 | 2.60 | 2.90 | 3.45 | 3.85 | 4.10 | 4.25 | 4.35 | ||||
| Macquarie Bank | 0.05 | 0.85 | 1.85 | 1.85 | 2.50 | 2.80 | 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 | 0.15 | 0.15 | 1.20 | 1.20 | 1.20 | 1.90 | 2.00 | 2.75 | 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 | 2.25 | 2.55 | 2.70 | 2.80 | 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 | 0.30 | 0.75 | 1.75 | 2.00 | ||||||||
| 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.