Term Deposits

Summary: Modest number of rate changes, 11 down, 22 up; notable changes from Judo, People’s Choice; Judo now offers highest rate in survey.

There were a modest number of changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 32 changes made, 21 took the form of rate increases. No changes were made by the major banks.

Among the smaller ADIs, the most notable changes came from Judo Bank. Rates on its terms of 2 years, 3 years, 4 years and 5 years were raised by 25bps, 40bps, 65bps and 55bps respectively. It also trimmed its 3-month rate by 5bps.

Another notable set of changes, but mostly in the opposite direction, came from People’s Choice. While it raised rates on its 3-month and 6-month terms by 5bps and 25bps respectively, it also cut its 4-month rate by 25bps and lowered its rates on terms of 1 year and longer all by 15bps each.

See our table below for the latest rates and terms which are available. Judo’s 5-year deposit now 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	0.80	0.80	0.95	0.95	1.00	1.10	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	0.05	0.05	0.10	0.10	0.10	0.25	0.25	0.30	0.25	0.30	0.30	0.30
Bank of Queensland	0.05	0.10	0.20	0.15	0.15	0.35	0.20	0.50	1.00	1.00	1.00
BOQ Specialist			0.35	0.25		0.35	0.35	0.50	0.85	1.00	1.00	1.00
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	0.50	0.65	0.65	0.65	0.65	0.65
Defence Bank	0.10	0.10	0.30	0.30	0.30	0.40	0.40	0.45	0.8
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	0.3	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	0.5	0.5
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	0.5	0.5	0.6	0.7
ING Direct			0.05	0.05		0.07	0.18	0.22	0.25
Judo Bank			0.83			0.97	0.99	1.12	1.45	1.55	1.85	1.95
Macquarie Bank	0.05	0.05	0.50	0.5		0.65	0.65	0.8	1.20	1.30	1.30	1.30
ME Bank	0.15	0.15	0.35	0.35	0.40	0.50	0.55	0.60	1.10	1.30	1.40	1.50
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	0.3	0.2	0.20	0.4	0.30	0.45	0.45	0.6	0.6	0.6
Police Bank	0.40	0.40	0.40	0.40	0.40	0.40	0.45	0.65
P&N Bank		0.10	0.30	0.20	0.20	0.40	0.25	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.}