Summary: Moderate number of rate changes, all 60 up; notable changes made by Newcastle, Horizon; AMP still 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) again in this week’s YieldReport survey. All 60 changes took the form of rate increases. None of the major banks raised their rates.
Among the smaller ADIs, the most notable changes came from Newcastle Permanent. Its rates on deposits of 3 month through to 9 months were raised by amounts ranging from 10bps to 60bps while its rates on terms of 1 year through to 5 years were increased by 125bps, 125bps, 115bps, 105bps and 95bps respectively.
Horizon Credit Union’s changes were slightly smaller in aggregate terms. Its rates on deposits of 1 month through to 4 months were increased by 25bps, 35bps, 30bps and 35bps respectively; its 6-month and 9-month rates were both increased by 50bps while 1-year, 2-year and 3-year rates were raised by 100bps, 130bps and 150 bps respectively.
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 still 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 | 0.10 | 0.12 | 0.15 | 0.20 | 0.25 | 0.30 | 0.45 | 0.65 | 1.00 | 1.50 | 1.80 | 2.00 |
| NAB | 0.10 | 0.10 | 0.15 | 0.20 | 0.20 | 0.30 | 0.50 | 0.65 | 1.00 | 1.60 | 1.80 | 2.00 |
| Westpac | 0.05 | 0.05 | 0.07 | 0.07 | 0.10 | 0.15 | 0.20 | 0.25 | 0.30 | 0.30 | 0.30 | 0.30 |
| Military Bank | 0.40 | 0.40 | 0.40 | 0.50 | 0.50 | 0.75 | 2.30 | 2.30 | ||||
| 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 | 0.15 | 0.20 | 0.80 | 0.50 | 0.50 | 2.15 | 2.00 | 1.50 | 1.50 | 1.50 | 1.50 | 1.50 |
| Bank of Melbourne | 0.05 | 0.05 | 0.07 | 0.07 | 0.10 | 0.15 | 0.20 | 0.25 | 0.30 | 0.30 | 0.30 | 0.30 |
| Bank Australia | 0.50 | 0.50 | 0.50 | 0.75 | 0.75 | 2.50 | 2.70 | 3.00 | ||||
| BankSA | 0.05 | 0.05 | 0.07 | 0.07 | 0.10 | 0.15 | 0.20 | 0.25 | 0.30 | 0.30 | 0.30 | 0.30 |
| Bankwest | 0.15 | 0.20 | 0.35 | 0.35 | 0.35 | 0.55 | 0.50 | 1.00 | 2.15 | 2.15 | 2.15 | 2.15 |
| Bank of Sydney | 0.40 | 0.50 | 1.25 | 0.90 | 0.95 | 1.50 | 1.35 | 1.65 | ||||
| BankVic | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.65 | 0.65 | 0.65 | 0.65 | ||
| Beyond Bank | 0.50 | 0.60 | 1.10 | 1.00 | 2.00 | 1.40 | 1.40 | 1.40 | ||||
| Bendigo Bank | 0.10 | 0.10 | 0.20 | 0.20 | 0.20 | 0.45 | 1.50 | 2.00 | 2.05 | 2.20 | 2.30 | 2.40 |
| Bank of Queensland | 0.05 | 0.08 | 0.15 | 0.10 | 0.10 | 1.25 | 1.75 | 2.50 | 3.00 | 3.00 | 3.00 | |
| BOQ Specialist | 0.40 | 0.40 | 1.25 | 1.75 | 2.50 | 3.00 | 3.00 | 3.00 | 3.00 | |||
| Citibank | 0.15 | 0.65 | 0.65 | 0.65 | 0.65 | 0.65 | 0.65 | 0.65 | 0.65 | |||
| CUA | 0.20 | 0.25 | 0.65 | 0.50 | 0.50 | 1.10 | 1.30 | 2.00 | 2.50 | 2.80 | 2.80 | 2.80 |
| Defence Bank | 0.35 | 0.35 | 0.50 | 0.50 | 0.55 | 0.60 | 0.70 | 0.90 | 2.00 | |||
| Greater Bank | 0.10 | 0.10 | 0.20 | 0.20 | 0.20 | 0.25 | 0.25 | 0.60 | 0.90 | 1.05 | 1.15 | 1.25 |
| Heritage Bank | 0.20 | 0.30 | 0.35 | 0.40 | 0.40 | 0.40 | 0.90 | 1.00 | 1.20 | 2.00 | 2.25 | 2.50 |
| Horizon Credit Union | 0.60 | 0.70 | 0.80 | 0.90 | 1.10 | 1.30 | 2.10 | 2.60 | 3.00 | |||
| HSBC | 0.25 | 0.30 | 0.85 | 0.65 | 0.65 | 1.05 | 1.25 | 1.50 | 2.00 | 2.00 | 2.00 | 2.00 |
| 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 | 0.85 | 0.85 | 1.90 | 1.90 | 2.75 | 3.10 | ||||||
| Judo Bank | 1.15 | 1.85 | 2.10 | 2.70 | 3.40 | 3.45 | 3.75 | 3.85 | ||||
| Macquarie Bank | 0.05 | 0.05 | 1.25 | 1.25 | 1.90 | 2.20 | 2.75 | 3.30 | 3.35 | 3.50 | 3.50 | |
| ME Bank | 0.15 | 0.15 | 0.45 | 0.40 | 0.40 | 1.75 | 2.00 | 2.75 | 3.00 | 3.00 | 3.00 | 3.00 |
| MyState | 0.10 | 0.15 | 0.25 | 0.25 | 0.75 | 0.50 | 0.70 | 0.90 | 2.50 | |||
| Newcastle Permanent | 0.15 | 0.15 | 0.60 | 0.50 | 0.50 | 1.20 | 1.20 | 2.25 | 2.30 | 2.30 | 2.30 | 2.30 |
| People's Choice Credit Union | 0.10 | 0.30 | 0.20 | 0.20 | 0.40 | 0.50 | 1.00 | 1.20 | 1.40 | 1.45 | 1.50 | |
| Police Bank | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.45 | 1.05 | ||||
| P&N Bank | 0.55 | 0.80 | 0.80 | 0.80 | 1.25 | 0.80 | 1.60 | 1.60 | 2.00 | 2.00 | 2.00 | |
| QT Mutual Bank | 0.05 | 0.25 | 0.55 | 0.50 | 0.60 | 1.00 | 1.50 | 2.00 | 2.60 | 2.80 | 2.80 | 3.00 |
| Rabobank Australia | 0.15 | 0.15 | 0.55 | 0.55 | 0.55 | 2.00 | 2.00 | 2.74 | 3.30 | 3.35 | 3.50 | 3.50 |
| Rural Bank | 0.10 | 0.10 | 0.20 | 0.20 | 0.20 | 0.75 | 1.50 | 2.00 | 2.05 | 2.20 | 2.30 | 2.40 |
| St. George Bank - Except VIC | 0.05 | 0.05 | 0.07 | 0.07 | 0.10 | 0.15 | 0.20 | 0.25 | 0.30 | 0.30 | 0.30 | 0.30 |
| Suncorp Bank | 0.10 | 0.15 | 0.55 | 0.25 | 0.25 | 1.00 | 1.50 | 2.00 | 2.60 | 2.80 | 2.80 | 3.00 |
| Teachers Mutual Bank | 0.60 | 0.60 | 0.60 | 0.65 | 0.65 | 0.65 | 0.80 | 0.80 | ||||
| The Capricornian | 0.30 | 0.75 | 1.75 | 2.00 | ||||||||
| UBank | 0.15 | 0.40 | 0.65 | 0.70 | 0.80 | 0.90 | 1.20 | 1.65 | ||||
| Bank First | 0.15 | 0.20 | 0.40 | 0.50 | 0.50 | 0.75 | 1.00 | 1.50 | 2.00 | 2.00 | 2.00 |
*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.