Term Deposits

Summary: Small number of rate changes, 20 up, 7 down; notable changes from BoQ, BoQ Specialist, ME Bank; Judo still offers highest rate in survey.

There were a small number of changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 27 changes made, 20 took the form of rate increases. No changes were made by the major banks.

Among the smaller ADIs, the most notable changes came from the Bank of Queensland. BoQ raised its 9-month rate by 25bps, increased rates on its terms of 3 years and 4 years by 20bps each while its rates on terms of 2 years and 3 years increased by 10bps each. It also trimmed its 2-month rate by 2bps and its rates on terms of 3 months to 6 months inclusive by 5bps each.

BOQ Specialist’s changes were similar but not quite the same. BoQ raised its 9-month rate by 5bps, its 1-year rate by 10bps and its 2-year rate by 15bps. Rates on terms of 3 years, 4 years and 5 years were all increased by 20bps each. Its 3-month and 4-month rates were both lowered by 10bps.

Another set of notable changes came from ME Bank. Rates on its terms of 1 year and longer were all raised by 10bps.

See our table below for the latest rates and terms which are available. Judo’s 5-year deposit still 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	0.35	0.35	0.40	0.40	0.45	1.00	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	0.08	0.15	0.10	0.10	0.30	0.45	0.60	1.10	1.20	1.20
BOQ Specialist			0.25	0.15		0.35	0.40	0.60	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	0.50	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	0.80
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	0.30	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	0.40	0.50	0.50
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			1.10			1.15	1.05	1.15	1.45	1.55	1.85	1.95
Macquarie Bank	0.05	0.05	0.50	0.50		0.70	0.70	0.85	1.25	1.35	1.35	1.35
ME Bank	0.15	0.15	0.35	0.35	0.40	0.50	0.55	0.70	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	0.65	0.70	0.70	0.76
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	0.50	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.}