Summary: Moderate number of rate changes; 17 reductions, 15 increases; noteworthy changes from Great Southern, ME; highest rate in survey unchanged at 5.10%.
There were a moderate number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 32 changes which occurred, 17 took the form of rate reductions.
None of the major banks changed its term-deposit rates.
Among the smaller ADIs, the most noticeable changes came from Great Southern Bank. While it raised its 6-month rate by 35bps, rates on terms of 9 months, 1 year and 2 years were reduced by 10bops, 15bps and 30bps respectively. Longer term rates were cut by 40bps each.
Another change which stood out was the 175bps rise for ME Bank’s 6-month rate. ME also raised its 9-month and 1-year rates by modest amounts.
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 remained at 5.10% and it is offered by Bank of Sydney and Judo.
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 | 4.55 | 4.80 | 4.75 | 4.75 | 4.20 | 4.20 | 4.20 | 4.20 |
| Arab Bank Australia | 1.50 | 1.50 | 4.45 | 4.20 | 4.20 | 5.00 | 4.80 | 4.85 | 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 | 4.05 | 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 | 4.80 | 4.00 | 4.00 | 5.10 | 5.10 | 5.00 | ||||
| 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 | 4.30 | 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 | 4.80 | 4.80 | 4.80 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 4.60 | 4.70 | 4.85 | 4.85 | 4.85 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.20 | 2.95 | 2.95 | 4.95 | 4.50 | 4.70 | 4.40 | 3.80 | 3.80 | 3.80 |
| Defence Bank | 4.25 | 4.45 | 4.50 | 4.80 | 4.80 | |||||||
| 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 | 4.10 | 3.70 | 4.50 | 4.00 | 4.80 | 4.00 | 4.00 | |||
| 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 | 4.85 | 5.00 | 5.10 | 5.10 | 4.80 | 4.80 | 4.80 | 4.80 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.85 | 4.80 | 4.75 | 4.70 | 4.70 | 4.40 | 4.35 | 4.35 | 4.35 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.65 | 1.25 | 4.85 | 4.85 | 4.85 | 4.30 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 2.50 | 4.20 | 4.40 | 4.60 | 4.65 | 4.75 | 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 | 3.50 | 3.00 | 4.00 | 3.75 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.40 | 3.75 | 3.40 | 4.50 | 4.70 | 4.55 | 4.55 | 4.20 | 4.20 | 4.20 | |
| RACQ Bank | 0.55 | 1.60 | 4.80 | 3.50 | 3.50 | 4.85 | 4.85 | 4.90 | 4.20 | 3.95 | 3.95 | 3.95 |
| Rabobank Australia | 2.00 | 2.10 | 4.70 | 4.50 | 4.50 | 4.75 | 4.50 | 4.75 | 4.40 | 4.40 | 4.60 | 4.70 |
| 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 | 3.50 | 3.50 | 3.50 | 4.00 | 4.90 | 5.00 | 4.00 | 4.00 | ||||
| The Capricornian | 3.00 | 3.25 | 4.00 | 4.00 | ||||||||
| Bank First | 0.75 | 1.00 | 4.55 | 4.55 | 4.65 | 4.65 | 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.