Summary: Modest number of rate changes; 10 reductions, 9 increases; no changes from major banks; noticeable changes from P&N Bank, HSBC; highest rate in survey now at 5.10%.
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 19 changes which occurred, 10 took the form of rate reductions.
None of the major banks changed their term-deposit rates.
Among the smaller ADIs, the most notable changes came from P&N Bank. Its 3-month and 6-month rates were both cut by 50bps.
Another noticeable change came from HSBC, which raised its 1-year rate by 70bps.
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 from 5.00% to 5.10% after Judo raised several 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 | 4.00 | 4.00 | 4.00 |
| 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 | 4.95 | 4.80 | 4.90 | 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 | 5.00 | 5.00 | 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 | 4.70 | 4.90 | 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 | 4.00 | 4.00 | 4.00 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.60 | 1.25 | 4.70 | 4.75 | 4.70 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 4.40 | 4.60 | 4.70 | 4.75 | 4.75 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Citibank | 1.50 | 4.65 | 4.80 | 4.90 | 5.00 | 4.50 | 4.10 | 4.10 | 4.10 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.20 | 2.95 | 2.95 | 4.60 | 4.60 | 4.85 | 4.70 | 4.20 | 4.20 | 4.20 |
| 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 | 5.00 | 4.85 | 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 | 4.60 | 4.90 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.85 | 4.85 | 4.95 | 4.75 | 5.00 | 4.70 | ||||||
| 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 | 4.80 | 4.70 | 4.70 | 4.40 | 4.35 | 4.35 | 4.35 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.65 | 1.25 | 3.10 | 4.80 | 4.75 | 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 | 5.00 | 4.85 | 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.