Term Deposits

Summary: Modest number of rate changes, 14 down, 28 up; notable changes made by Macquarie Bank, ME Bank, RACQ; AMP Bank offers highest rate in survey.

There were again 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 42 changes made, 28 took the form of rate increases. No changes were made by the major banks.

Among the smaller ADIs, the most notable changes came from Macquarie Bank. Rates on its 3-month, 4-month, 6-month and 9-month terms were all raised by 10bps while its 2-year rate was hiked by 60bps and 3-year, 4-year and 5-year rates were raised by 70bps each.

ME Bank’s increases were also on the large side. While its 3-month, 4-month and 5-month rates were each raised by 5bps, its 2-year and 3-year rates were raised by 50bps, the 4-year rate increased by 40bps and the 5-year rate had 30bps added to it.

RACQ’s changes were also notable for their sizes. Its 2-year rate was increased by 5bps, the 3-year rate had 15bps added to it, the 4-year rate was raised by 25bps while the 5-year rate was increased by 35bps. Its 6-month rate was also trimmed by 5bps.

See our table below for the latest rates and terms which are available. AMP Bank’s 5-year deposit 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			0.4	0.4	0.4	0.5	0.5	0.75	1.1	1.1
AMP Bank	0.10	0.20	0.85	0.85	1.00	1.00	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	0.2	0.25	0.4	0.45	0.60	0.55	0.55	0.6
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	0.1	0.2	0.15	0.15	0.35	0.2	0.5	1	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	0.55
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	0.30	0.30	0.30	0.30	0.55	0.65	0.70	0.80	0.80	0.80
Horizon Credit Union	0.10	0.10	0.25	0.25		0.30	0.30	0.40	0.40	0.40
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	0.40	0.40	0.50	0.60
ING Direct			0.05	0.05		0.07	0.18	0.22	0.25
Judo Bank			0.88			0.97	0.99	1.12	1.20	1.15	1.20	1.40
Macquarie Bank	0.05	0.05	0.4	0.4		0.4	0.4	0.55	1.2	1.3	1.3	1.3
ME Bank	0.15	0.15	0.35	0.35	0.4	0.50	0.55	0.60	1.1	1.3	1.4	1.5
MyState	0.10	0.15	0.30	0.30	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	0.25	0.45	0.20	0.20	0.30	0.60	0.60	0.75	0.75	0.75
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	0.45	0.45	0.55	0.55	0.55
QT Mutual Bank	0.05	0.15	0.40	0.40	0.40	0.45	0.50	0.60	0.7	0.8	0.9	1
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	0.45	0.25	0.25	0.50	0.65	0.70	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	0.7
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.}