Term Deposits

Summary: Modest number of rate changes, 11 down, 20 up; ANZ reverses previous week’s changes; notable changes from Judo, Macquarie; Judo Bank 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 31 changes made, 20 took the form of rate increases.

There was several changes made by one of the major banks. ANZ lowered its rates on terms of 3 months, 4 months and 5 months by 3bps each while its rates on terms of 6 months and longer were all decreased by 5bps. These changes just reversed the changes from the previous week.

Among the smaller ADIs, easily the most notable changes came from Judo Bank. Its 1-year rate was increased by 25bps; its 2-year rate was raised by 65bps; 3-year and 5-year rates were each hiked by 100bps while the 4-year rate was raised by 85bps.

Macquarie Bank’s changes were broader but smaller. Rates on its terms of 3 months and 6 months were both raised by 10bps; 9-month and 2-year rates had 20bps added to them; the 1-year rate was increased by 35bps; the 3-year rate was raised by 80bps and 4-year and 5-year rates were both increased by 50bps.

See our table below for any other changes as well as the latest rates and terms which are available. Judo Bank’s 5-year deposit now offers the highest rate in this week’s survey.

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 now 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	1.10	1.10
AMP Bank	0.10	0.20	0.35	0.35	0.80	0.80	0.90	1.25	1.95	2.20	2.45	2.70
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	1.30
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		0.40			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	0.55	0.60	0.70	0.80	0.85	0.85	0.90
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	0.30	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			0.90			0.95	1.05	1.50	2.15	2.60	2.75	3.00
Macquarie Bank	0.05	0.05	0.70	0.50		1.00	1.20	1.65	1.65	2.35	2.05	2.05
ME Bank	0.15	0.15	0.35	0.35	0.40	0.50	0.70	0.90	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	0.75	0.75	0.85	0.85	0.85
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	0.75	1.05	1.15	1.15	1.25
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.}