Term Deposits

Summary: Larger number of rate changes, all 39 up; notable changes from Arab, AMP; AMP offers highest rate in survey.

There were a larger number of changes made by banks, building societies and other approved deposit-taking institutions (ADIs) again in this week’s YieldReport survey. All 39 changes took the form of rate increases. There were no changes made by the major banks.

Among the smaller ADIs, easily the most notable changes came from Arab Bank. Its 3-month and 5-year rates were each raised by 20bps; its 6-month rate was increased by 25bps; the 9-month rate was raised by 35bps; 1-year and 4-year rates were each increased by 65bps; 2-year and 3-year rates were both raised by 50bps.

AMP Bank was at it again. Its 5-month and 6-month rates were both raised by 20bps, the 1-year rate was increased by 35bps, the 2-year rate had 50bps added to it while 3-year, 4-year and 5-year rates were all increased by 45bps.

Another set of notable changes came from Citibank. Its 3-month rate was raised by 25bps, as were rates on terms of 6 months and longer.

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, only now it is higher than last week.

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	1.15	1.15	0.90	1.95	2.80	3.15	3.45	3.55
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	0.20	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	0.45	0.40	0.70	0.70	0.70	0.70
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	0.70	1.10	1.20	1.20
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	0.45	0.80
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			0.90			0.95	1.05	1.50	2.15	2.60	2.75	3.00
Macquarie Bank	0.05	0.05	0.80	0.60		1.10	1.40	1.90	2.30	2.35	2.05	2.05
ME Bank	0.15	0.15	0.35	0.35	0.40	0.65	0.70	1.10	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	0.60	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	0.15	0.15	0.15	0.40	0.35	0.70	0.65	0.70	0.70	0.70
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	0.85	1.35	1.35	1.45	1.45
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.}