Summary: Modest number of rate changes; 23 reductions, 4 increases; changes again made by CBA; notable changes from HSBC; highest rate in survey rises to 5.10%.
There were a modest number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) again in this week’s YieldReport survey. 23 of the 27 changes took the form of rate reductions.
One of the major banks changed some of its term-deposit rates. Commonwealth Bank raised its 3-month rate by 15bps but also lowered rates on terms of 4 months and longer by either 10bps or 15bps.
Among the smaller ADIs, the most notable set of changes came from Bank of Sydney. It cut its 4-month rate by 90bps but raised its 6-month rate by 60bps.
See our table below for any other changes as well as the latest rates and terms which are available. The highest rate in this week’s survey rose to 5.10% and it is offered by Judo Bank.
| 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 | 1.25 | 1.50 | 3.25 | 3.30 | 3.40 | 3.50 | 3.90 | 4.50 | 4.00 | 4.00 | 4.00 | 4.00 |
| CBA | 1.25 | 1.50 | 3.15 | 3.20 | 3.30 | 3.40 | 4.45 | 4.45 | 3.75 | 3.50 | 3.50 | 3.50 |
| NAB | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.60 | 4.00 | 4.50 | 4.00 | 3.30 | 3.30 | 3.30 |
| Westpac | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.60 | 4.00 | 4.00 | 3.80 | 3.60 | 3.60 | 3.60 |
| Military Bank | 3.50 | 3.50 | 3.50 | 4.90 | 4.90 | 4.70 | 4.65 | 3.95 | ||||
| AMP Bank | 0.10 | 0.20 | 4.70 | 4.60 | 4.60 | 4.80 | 4.80 | 4.75 | 4.25 | 3.30 | 3.30 | 3.30 |
| Arab Bank Australia | 1.50 | 1.50 | 4.35 | 4.10 | 4.10 | 4.90 | 4.80 | 4.60 | 3.95 | 3.85 | 3.85 | 3.75 |
| Bank of Melbourne | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.60 | 4.00 | 4.00 | 3.80 | 3.60 | 3.60 | 3.60 |
| Bank Australia | 4.70 | 4.90 | 4.80 | 4.70 | 4.25 | 4.00 | ||||||
| BankSA | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.55 | 3.95 | 3.95 | 3.95 | 3.75 | 3.55 | 3.55 |
| Bankwest | 2.00 | 2.00 | 3.75 | 3.00 | 3.00 | 4.25 | 4.00 | 4.70 | 3.90 | 3.80 | 3.80 | 3.80 |
| Bank of Sydney | 1.25 | 1.50 | 3.55 | 4.00 | 4.00 | 4.60 | 4.00 | 4.25 | ||||
| BankVic | 3.60 | 4.00 | 3.70 | 4.80 | 3.70 | 4.65 | 4.00 | 4.00 | 4.00 | 4.00 | ||
| Beyond Bank | 4.35 | 4.70 | 4.90 | 4.70 | 4.00 | 3.80 | 3.80 | 3.80 | ||||
| Bendigo Bank | 1.25 | 1.50 | 3.50 | 3.60 | 3.00 | 4.00 | 4.00 | 4.65 | 3.95 | 4.60 | 3.20 | 3.25 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.75 | 1.25 | 4.75 | 4.65 | 4.60 | 4.60 | 3.30 | 3.30 | |
| BOQ Specialist | 4.60 | 4.80 | 4.80 | 4.70 | 4.65 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.65 | 2.95 | 4.70 | 4.55 | 4.45 | 4.45 | 4.20 | 3.80 | 3.80 | 3.80 |
| Defence Bank | 4.25 | 3.60 | 3.70 | 4.45 | 4.00 | |||||||
| Greater Bank | 1.00 | 1.00 | 4.00 | 4.00 | 4.00 | 4.75 | 4.00 | 4.55 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.60 | 4.55 | 4.20 | 4.00 | 4.00 | 4.00 |
| Horizon Credit Union | 1.25 | 1.50 | 3.90 | 3.70 | 4.30 | 4.70 | 4.50 | 3.80 | 3.70 | |||
| HSBC | 1.85 | 2.00 | 4.50 | 3.75 | 3.75 | 4.40 | 4.30 | 4.20 | 4.10 | 4.00 | 4.00 | 4.00 |
| IMB | 4.20 | 4.85 | 4.80 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.85 | 4.85 | 4.95 | 4.65 | 4.95 | 4.40 | ||||||
| in1bank | 4.00 | 4.10 | 4.35 | 4.43 | 4.48 | 4.61 | 4.56 | 4.50 | 4.40 | |||
| Judo Bank | 4.95 | 5.10 | 4.90 | 4.90 | 4.50 | 4.35 | 4.35 | 4.35 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.95 | 4.90 | 4.90 | 4.70 | 4.65 | 3.90 | 3.80 | 3.80 | 3.80 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.80 | 1.25 | 4.80 | 4.70 | 4.65 | 2.00 | 2.00 | 2.00 | 2.00 |
| MyState | 0.50 | 0.50 | 4.00 | 4.20 | 4.50 | 4.60 | 4.75 | 4.75 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 4.00 | 4.00 | 4.00 | 4.75 | 4.00 | 4.55 | 3.90 | 3.90 | 3.90 | 3.90 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.60 | 4.55 | 4.20 | 4.00 | 4.00 | 4.00 | |
| Police Bank | 4.10 | 3.75 | 3.00 | 4.00 | 5.00 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.30 | 4.00 | 4.90 | 4.40 | 4.00 | 3.80 | 3.80 | 3.70 | 3.70 | 3.70 | |
| RACQ Bank | 0.55 | 1.60 | 4.80 | 3.50 | 3.50 | 4.85 | 4.75 | 4.75 | 4.20 | 3.95 | 3.95 | 3.95 |
| Rabobank Australia | 2.00 | 2.10 | 4.85 | 4.50 | 4.50 | 4.80 | 4.70 | 4.60 | 4.25 | 4.25 | 4.50 | 4.60 |
| Rural Bank | 1.25 | 1.50 | 3.50 | 3.60 | 3.00 | 4.00 | 4.00 | 4.65 | 3.30 | 3.30 | 3.30 | 3.30 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 3.60 | 4.00 | 3.80 | 3.60 | 3.60 | 3.60 |
| Suncorp Bank | 1.30 | 1.90 | 4.60 | 4.70 | 3.45 | 3.70 | 3.90 | 4.15 | 3.95 | 3.95 | 3.95 | |
| Teachers Mutual Bank | 4.80 | 4.80 | 4.80 | 4.95 | 4.05 | 4.75 | 4.00 | 4.00 | ||||
| The Capricornian | 3.00 | 3.25 | 4.00 | 4.00 | ||||||||
| Bank First | 0.75 | 1.00 | 4.65 | 4.65 | 4.80 | 4.75 | 4.65 | 4.00 | 4.00 | 4.00 | 4.00 |
*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.