Term Deposits

Summary: Moderate number of rate changes, zero down, 41 up; notable changes made by Macquarie, AMP, Judo; 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) in this week’s YieldReport survey. All 41 took the form of rate increases. There were no changes made by the major banks.

Among the smaller ADIs, the most notable changes came from Macquarie Bank. It raised rates on its terms of 3 months by 25bps; the 4-month rate went up by 55bps; the 6-month rate was increased by 35bps; the 9-month rate had 50bps added; the 1-year rate rose by 40bps; 2-year and 3-year rates were each increased by 100bps while 4-year and 5-year rates both jumped 145bps.

AMP Bank also made some significant changes to its rates. Its 5-month and 6-month rates were each raised by 75bps; its 9-month rate was hiked by 135bps; 1-year and 3-year rates were both increased by 55bps; the 2-year rate had 50bps added; 4-year and 5-year rates were 30bps and 40bps respectively.

Another set of significant changes came from Judo Bank. Its 3-month rate was raised by 35bps; 6-month and 9-month rates were both increased by 25bps; its 1-year rate had 30bps added while longer-term rates were raised by 60bps or 70bps each.

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	0.05	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	2.30	2.30
AMP Bank	0.10	0.20	0.35	0.35	1.90	1.90	2.25	2.50	3.30	3.70	3.75	3.95
Arab Bank Australia	0.15	0.20	0.80	0.50	0.50	1.00	1.10	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			0.25	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
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	0.30	0.35	0.55	0.60	0.65	0.75	0.80	0.75
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			0.40	0.65	0.60	0.80	0.80	0.80	0.80
Bendigo Bank	0.10	0.10	0.20	0.20	0.20	0.35	0.75	1.00	1.00	1.15	1.15	1.25
Bank of Queensland	0.05	0.08	0.15	0.10	0.10	0.30	0.75	1.00	1.40	1.50	1.50
BOQ Specialist			0.25	0.15		0.65	0.40	0.80	1.00	1.20	1.20	1.20
Citibank	0.15		0.65			0.65	0.65	0.65	0.65	0.65	0.65	0.65
CUA	0.10	0.15	0.50	0.50	0.50	0.55	0.60	0.80	1.20	1.40	1.45	1.50
Defence Bank	0.10	0.10	0.25	0.30	0.30	0.35	0.40	0.60	1.20
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	0.60	0.70	0.80
HSBC	0.05	0.10	0.40	0.15	0.15	0.50	0.70	0.90	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			1.25			1.50	1.65	2.30	3.00	3.35	3.65	3.75
Macquarie Bank	0.05	0.05	1.15	1.15		1.65	1.95	2.50	3.30	3.35	3.50	3.50
ME Bank	0.15	0.15	0.45	0.40	0.40	0.80	1.00	1.40	1.50	2.00	2.25	2.50
MyState	0.10	0.15	0.25	0.25	0.25	0.50	0.70	0.90	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	0.80	0.90	1.10	1.20	1.30
Police Bank	0.40	0.40	0.40	0.40	0.40	0.40	0.45	1.05
P&N Bank		0.10	0.60	0.60	0.60	0.80	0.30	0.85	0.85	0.95	0.95	0.95
QT Mutual Bank	0.05	0.15	0.30	0.30	0.30	0.40	0.50	0.70	1.10	1.20	1.30	1.40
Rabobank Australia	0.15	0.15	0.45	0.45	0.45	0.65	0.50	0.75	0.50	0.50	1.05	1.25
Rural Bank	0.10	0.10	0.20	0.20	0.20	0.45	0.75	1.00	1.00	1.15	1.15	1.25
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	0.35	0.25	0.25	0.50	0.65	1.00	1.45	1.55	1.65	1.75
Teachers Mutual Bank			0.50	0.50	0.50	0.55	0.55	0.55	0.70	0.70
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.}