Term Deposits

Summary: Small number of rate changes, all 19 up; notable changes from Bendigo, Great Sothern; Judo still offers highest rate in survey.

There were a small number of changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. All 19 changes took the form of rate increases. No changes were made by the major banks.

Among the smaller ADIs, the most notable changes came from the Bendigo Bank. Bendigo raised the rates on its terms of 1 month to 6 months all by 5bps each. It also increased its 9-month rate by 10bps while terms of 1 year and longer all had their rates increased by 40bps each.

Great Southern’s changes were more limited. Its 9-month rate was raised by 10bps; the 1-year rate had 5bps added; the 2-year rate was increased by 15bps; 3-year and 4-year rates were each raised by 20bps and the 5-year rate was raised by 25bps.

The only other change came from Macquarie Bank which increased its 1-year rate by 15bps.

See our table below for the latest rates and terms which are available. Judo’s 5-year deposit still offers the highest rate in this week’s survey.

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	0.05	0.05	0.07	0.08	0.10	0.15	0.20	0.25	0.30	0.30	0.30	0.30
NAB	0.05	0.05	0.07	0.08	0.10	0.15	0.20	0.25	0.30	0.30	0.30	0.30
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	1.10	1.10
AMP Bank	0.10	0.20	0.35	0.35	0.40	0.40	0.45	1.00	1.35	1.45	1.75	1.85
Arab Bank Australia	0.15	0.20	0.60	0.50	0.50	0.75	0.75	0.85	1.00	1.00	0.85	1.00
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			0.25	0.25	0.25	0.35	0.35	0.70	0.80	0.90
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
Bank of Baroda Australia	0.30	0.30	0.40	0.40	0.40	0.50	0.50	0.50	0.50	0.50	0.50	0.50
Bankwest	0.05	0.10	0.20	0.20	0.20	0.40	0.25	0.45	0.50	0.50	0.50	0.50
Bank of Sydney	0.20	0.25	0.40	0.45	0.60	0.55	0.55	0.60
BankVic			0.45	0.45	0.45	0.45	0.45	0.45	0.50	0.50	0.50	0.50
Beyond Bank			0.30			0.30	0.30	0.40	0.60	0.60	0.60	0.60
Bendigo Bank	0.10	0.10	0.15	0.15	0.15	0.30	0.35	0.70	0.65	0.70	0.70	0.70
Bank of Queensland	0.05	0.08	0.15	0.10	0.10	0.30	0.45	0.60	1.10	1.20	1.20
BOQ Specialist			0.25	0.15		0.35	0.40	0.60	1.00	1.20	1.20	1.20
Citibank	0.15		0.40			0.40	0.40	0.40	0.40	0.40	0.40	0.40
CUA	0.10	0.15	0.50	0.50	0.50	0.50	0.60	0.70	0.80	0.85	0.85	0.90
Defence Bank	0.10	0.10	0.30	0.30	0.30	0.40	0.40	0.45	0.80
Delphi Bank	0.05	0.05	0.10	0.05	0.10	0.30	0.25	0.30	0.25	0.30	0.30	0.30
Greater Bank	0.10	0.10	0.20	0.20	0.20	0.25	0.25	0.35	0.65	0.80	0.90	1.00
Heritage Bank	0.10	0.20	0.25	0.30	0.30	0.30	0.30	0.65	0.88	0.88	0.88	0.88
Horizon Credit Union	0.10	0.10	0.25	0.25		0.30	0.30	0.40	0.50	0.50
HSBC	0.05	0.10	0.30	0.15	0.15	0.30	0.15	0.50	0.50	0.50	0.50	0.50
IMB	0.10	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.50	0.50	0.60	0.70
ING Direct			0.05	0.05		0.07	0.18	0.22	0.25
Judo Bank			1.10			1.15	1.05	1.15	1.45	1.55	1.85	1.95
Macquarie Bank	0.05	0.05	0.50	0.50		0.70	0.70	1.00	1.25	1.35	1.35	1.35
ME Bank	0.15	0.15	0.35	0.35	0.40	0.50	0.55	0.70	1.20	1.40	1.50	1.60
MyState	0.10	0.15	0.25	0.25	0.25	0.70	0.50	0.80	1.20
Newcastle Permanent	0.10	0.10	0.20	0.20	0.20	0.30	0.30	0.40	0.45	0.80	0.90	1.00
People's Choice Credit Union		0.10	0.30	0.20	0.20	0.40	0.30	0.45	0.45	0.60	0.60	0.60
Police Bank	0.40	0.40	0.40	0.40	0.40	0.40	0.45	0.65
P&N Bank		0.10	0.45	0.30	0.30	0.50	0.30	0.55	0.55	0.65	0.65	0.65
QT Mutual Bank	0.05	0.15	0.40	0.40	0.40	0.45	0.50	0.60	0.70	0.80	0.90	1.00
Rabobank Australia	0.15	0.15	0.45	0.45	0.45	0.75	0.50	0.75	0.50	0.50	1.05	1.25
Rural Bank	0.05	0.05	0.10	0.10	0.10	0.30	0.25	0.30	0.25	0.30	0.30	0.30
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	0.40	0.25	0.25	0.45	0.55	0.65	0.80	0.85	0.90	0.95
Teachers Mutual Bank			0.50	0.50	0.50	0.55	0.55	0.55	0.60	0.60
The Capricornian			0.30			0.35		0.40	0.70
UBank	0.15	0.20	0.45	0.40	0.40	0.45	0.35	0.35
Bank First	0.15	0.20	0.40	0.50		0.50	0.50	0.60	0.60	0.60	0.60	0.60

^{*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.}