Summary: Large number of rate changes; 67 reductions, 14 increases; rate changes by Westpac; notable changes from Suncorp, BankSA, Police Bank, St George; highest rate in survey falls to 5.00%.
There were a large number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) again in this week’s YieldReport survey. 67 of the 81 changes took the form of rate reductions.
One of the major banks changed their respective term-deposit rates. Westpac lowered its rates on a swag of terms by amounts ranging from 15bps to 40bps.
Among the smaller ADIs, the most notable set of changes came from Suncorp. Other notable changes were made by BankSA, Police Bank and St George.
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 declined to 5.00% and it is offered separately by several ADIs.
TERM DEPOSITS $250,000 TO $1 MILLION
| 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 | 3.25 | 3.30 | 3.40 | 3.50 | 4.50 | 4.50 | 3.80 | 3.60 | 3.60 | 3.60 |
| 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 | 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 | 4.90 | 4.00 | 4.00 | 4.00 | 4.25 | ||||
| BankVic | 3.60 | 4.00 | 3.70 | 5.00 | 3.70 | 4.70 | 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 | 4.80 | 1.25 | 4.80 | 4.70 | 4.65 | 4.65 | 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↑ | 4.90 | 4.00 | 4.75 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.70 | 4.75 | 4.20 | 4.00 | 4.00 | 4.00 |
| Horizon Credit Union | 1.25 | 1.50 | 3.90 | 3.70 | 4.30 | 4.80 | 4.60 | 3.90 | 3.80 | |||
| HSBC | 1.85 | 2.00 | 4.00 | 3.75 | 3.75 | 4.40 | 4.50 | 5.00 | 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 | 4.90 | 5.00 | 4.90 | 4.90 | 4.65 | 4.55 | 4.55 | 4.55 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.95 | 4.85 | 4.85↑ | 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 Bank | 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 | 4.90 | 4.00 | 4.75 | 3.90 | 3.90 | 3.90 | 3.90 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.70 | 4.75 | 4.20 | 4.00 | 4.00 | 4.00 | |
| Police Bank | 4.50v | 3.75 | 3.00 | 4.00 | 5.00 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.60 | 4.50 | 4.85 | 4.70 | 4.40 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | |
| 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 | 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 | 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 | 4.70 | 4.70 | 4.85 | 4.85 | 4.85 | 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.