Summary: Modest number of rate changes; 4 reductions, 14 increases; noteworthy changes from ME Bank, Bank First; highest rate in survey now 5.25%.
There were a modest number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 18 changes, 14 took the form of rate increases.
None of the major banks changed their term-deposit rates.
Among the smaller ADIs, the most noticeable set of changes came from ME Bank. It slashed its 2-year rate by 230bps while is rates on terms of 3-years, 4-years and 5-years were all cut by 150bps.
Bank First’s changes were much more modest. A selection of its offered deposits had 10bps added to their respective rates.
See our table below for the latest rates and terms which are available. The highest rate in this week’s survey increased to 5.25% after Bank of Sydney raised its 6-month and 9-month rates.
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 | 3.50 | 3.60 | 3.70 | 4.10 | 4.00 | 4.70 | 4.00 | 4.00 | 4.00 | 4.00 |
| CBA | 1.25 | 1.50 | 3.50 | 3.55 | 3.65 | 3.75 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 |
| NAB | 1.25 | 1.45 | 3.50 | 3.60 | 3.70 | 3.80 | 4.00 | 4.70 | 4.00 | 3.80 | 3.80 | 3.80 |
| Westpac | 1.25 | 1.45 | 3.50 | 3.55 | 3.65 | 3.75 | 4.00 | 4.25 | 4.00 | 4.00 | 4.00 | 4.00 |
| Military Bank | 3.50 | 3.50 | 3.50 | 4.80 | 4.80 | 4.80 | 3.95 | 3.95 | ||||
| AMP Bank | 0.10 | 0.20 | 4.75 | 4.75 | 4.75 | 5.05 | 5.05 | 5.05 | 4.80 | 3.30 | 3.30 | 3.30 |
| Arab Bank Australia | 1.50 | 1.50 | 4.45 | 4.20 | 4.20 | 5.10 | 5.05 | 4.75 | 4.05 | 3.95 | 3.95 | 4.00 |
| Bank of Melbourne | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 4.05 | 4.30 | 4.05 | 4.05 | 4.05 | 4.05 |
| Bank Australia | 4.70 | 5.00 | 4.80 | 4.85 | 4.50 | 4.40 | ||||||
| BankSA | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 4.05 | 4.30 | 4.30 | 4.05 | 4.05 | 4.05 |
| Bankwest | 2.00 | 2.00 | 3.75 | 3.00 | 3.00 | 4.25 | 4.25 | 4.75 | 4.40 | 4.00 | 4.00 | 4.00 |
| Bank of Sydney | 1.25 | 1.50 | 5.00 | 4.00 | 4.00 | 5.25 | 5.25 | 5.05 | ||||
| BankVic | 3.60 | 4.00 | 3.70 | 4.80 | 3.70 | 4.75 | 4.50 | 4.50 | 4.50 | 4.50 | ||
| Beyond Bank | 4.40 | 4.60 | 4.80 | 4.60 | 4.00 | 4.00 | 4.00 | 4.00 | ||||
| Bendigo Bank | 1.25 | 1.50 | 3.50 | 3.60 | 3.00 | 4.00 | 4.00 | 4.75 | 3.95 | 4.70 | 3.90 | 3.95 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.60 | 1.25 | 4.90 | 4.90 | 4.80 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 4.60 | 4.70 | 4.95 | 4.95 | 4.85 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.90 | 2.95 | 2.95 | 5.20 | 5.20 | 5.20 | 4.40 | 3.80 | 3.80 | 3.80 |
| Defence Bank | 4.25 | 4.45 | 4.50 | 4.70 | 4.40 | |||||||
| Greater Bank | 1.00 | 1.00 | 3.50 | 3.50 | 3.50 | 4.60 | 4.00 | 4.50 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.80 | 4.75 | 4.20 | 4.00 | 4.00 | 4.00 |
| Horizon Credit Union | 1.25 | 1.50 | 4.00 | 3.70 | 4.50 | 4.00 | 4.70 | 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 | 4.75 | 4.70 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.75 | 4.75 | 4.85 | 4.65 | 4.90 | 4.50 | ||||||
| in1bank | 4.00 | 4.10 | 4.35 | 4.43 | 4.48 | 4.61 | 4.50 | 4.50 | 4.40 | |||
| Judo Bank | 4.90 | 5.10 | 5.10 | 5.10 | 5.05 | 4.95 | 5.05 | 5.05 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.80 | 4.75 | 4.70 | 4.65 | 4.65 | 4.35 | 4.25 | 4.25 | 4.25 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.65 | 1.25 | 4.85 | 4.85 | 4.85 | 2.00 | 2.00 | 2.00 | 2.00 |
| MyState | 0.50 | 0.50 | 2.50 | 4.20 | 4.40 | 4.60 | 4.85 | 5.00 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 3.50 | 3.50 | 3.50 | 4.60 | 4.00 | 4.50 | 4.00 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.80 | 4.75 | 4.20 | 4.00 | 4.00 | 4.00 | |
| Police Bank | 3.50 | 3.75 | 3.00 | 4.00 | 3.75 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.60 | 3.75 | 3.40 | 4.55 | 4.40 | 4.55 | 4.55 | 4.20 | 4.20 | 4.20 | |
| 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 | 5.00 | 4.90 | 5.00 | 4.50 | 4.50 | 5.00 | 5.10 |
| Rural Bank | 1.25 | 1.50 | 3.50 | 3.60 | 3.00 | 4.00 | 4.00 | 4.75 | 3.95 | 4.00 | 4.00 | 4.00 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 3.90 | 4.30 | 4.05 | 4.05 | 4.05 | 4.05 |
| Suncorp Bank | 1.30 | 1.90 | 3.05 | 4.45 | 3.45 | 3.65 | 4.40 | 4.90 | 3.95 | 3.95 | 3.95 | 3.95 |
| Teachers Mutual Bank | 4.75 | 4.75 | 4.75 | 4.65 | 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.