Summary: Modest number of rate changes; 4 increases, 36 reductions; notable rate changes from Bank of Sydney, Arab Bank, Military Bank; Bank Australia now has highest rate in survey.
There were a modest number of changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 40 which occurred, 36 took the form of rate reductions.
None of the major banks changed their term-deposit rates this week.
Among the smaller ADIs, the most notable changes came from Bank of Sydney. Its 3-month, 6-month, 9-month and 1-year rates were increased by 125bps, 100bps, 115bps and 70bps respectively.
Changes by Arab Bank and Military Bank were individually smaller but considerably broader. Both sets of changes comprised rate reductions only.
See our table below for any other changes as well as the latest rates and terms which are available. Bank Australia’s 1-year deposit now offers the highest rate in this week’s survey after Military Bank’s rate reductions.
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 | 1.30 | 1.55 | 3.50 | 4.20 | 3.70 | 4.10 | 4.00 | 4.85 | 4.50 | 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 | 4.00 | 4.00 | 4.85 | 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 | 4.65 | 4.65 | 4.65 | 4.85 | 4.95 | 4.95 | 4.85 | 4.85 | ||||
| AMP Bank | 0.10 | 0.20 | 4.40 | 4.40 | 4.70 | 4.70 | 4.50 | 4.50 | 4.40 | 4.40 | 4.40 | 4.40 |
| Arab Bank Australia | 2.00 | 2.25 | 4.50 | 4.25 | 4.25 | 5.00 | 4.90 | 5.00 | 4.10 | 4.00 | 4.00 | 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 | 4.75 | 5.00 | 5.00 | 5.25 | 4.50 | 4.00 | ||||||
| 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 | 1.25 | 1.50 | 3.50 | 3.00 | 3.00 | 4.00 | 4.00 | 4.75 | 4.00 | 4.00 | 4.00 | 4.00 |
| Bank of Sydney | 1.25 | 1.50 | 4.75 | 4.00 | 4.00 | 4.50 | 4.90 | 5.00 | ||||
| BankVic | 3.45 | 3.45 | 3.45 | 4.25 | 4.50 | 5.00 | 4.75 | 4.75 | 4.75 | 4.75 | ||
| Beyond Bank | 4.25 | 4.60 | 4.70 | 4.90 | 4.40 | 4.00 | 4.00 | 4.00 | ||||
| Bendigo Bank | 1.25 | 1.50 | 3.50 | 4.10 | 3.00 | 4.20 | 4.10 | 4.75 | 3.95 | 4.00 | 4.00 | 4.00 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.40 | 1.25 | 4.70 | 4.80 | 4.90 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 4.40 | 4.60 | 4.75 | 4.95 | 5.00 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Citibank | 1.25 | 4.25 | 4.75 | 4.75 | 5.05 | 4.65 | 4.65 | 4.65 | 4.65 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.50 | 2.95 | 2.95 | 4.85 | 4.90 | 5.05 | 4.45 | 4.20 | 4.20 | 4.20 |
| Defence Bank | 4.00 | 4.20 | 4.25 | 4.80 | 5.00 | |||||||
| Greater Bank | 1.00 | 1.00 | 3.50 | 3.00 | 3.00 | 4.20 | 3.60 | 5.00 | 5.20 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.60 | 3.60 | 4.80 | 3.90 | 5.00 | 4.20 | 4.00 | 4.00 | 4.00 |
| Horizon Credit Union | 1.25 | 1.50 | 3.70 | 3.70 | 4.20 | 3.70 | 4.85 | 4.00 | 3.90 | |||
| HSBC | 1.85 | 2.00 | 4.00 | 3.75 | 3.75 | 4.40 | 4.50 | 4.60 | 4.10 | 4.10 | 4.10 | 4.10 |
| IMB | 4.10 | 4.50 | 4.75 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.70 | 4.70 | 4.95 | 4.95 | 5.05 | 4.95 | ||||||
| Judo Bank | 4.70 | 4.95 | 4.95 | 5.00 | 5.05 | 5.05 | 5.05 | 5.05 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.70 | 4.70 | 4.70 | 4.80 | 4.80 | 3.90 | 3.60 | 3.60 | 3.65 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.65 | 1.25 | 3.10 | 4.90 | 4.95 | 4.30 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 2.50 | 4.40 | 4.60 | 4.75 | 4.85 | 4.90 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 4.00 | 3.00 | 3.00 | 3.80 | 3.60 | 5.00 | 5.20 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.60 | 3.60 | 4.80 | 3.90 | 5.00 | 4.20 | 4.00 | 4.00 | 4.00 | |
| Police Bank | 3.50 | 3.50 | 3.00 | 3.75 | 3.75 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.35 | 3.75 | 3.40 | 4.60 | 4.55 | 4.55 | 4.55 | 4.20 | 4.20 | 4.20 | |
| RACQ Bank | 0.55 | 1.60 | 4.70 | 3.50 | 3.50 | 4.70 | 5.00 | 5.00 | 4.20 | 3.95 | 3.95 | 3.95 |
| Rabobank Australia | 2.00 | 2.10 | 4.65 | 4.65 | 4.65 | 4.75 | 4.75 | 5.00 | 4.75 | 4.85 | 5.00 | 5.10 |
| Rural Bank | 1.25 | 1.50 | 3.50 | 4.10 | 3.00 | 4.20 | 4.10 | 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 | 4.05 | 4.30 | 4.05 | 4.05 | 4.05 | 4.05 |
| Suncorp Bank | 1.30 | 1.90 | 3.15 | 4.45 | 3.45 | 3.75 | 4.50 | 4.90 | 3.95 | 3.95 | 3.95 | 3.95 |
| Teachers Mutual Bank | 1.10 | 1.10 | 1.10 | 4.70 | 2.00 | 3.50 | 3.70 | 3.80 | ||||
| The Capricornian | 3.00 | 3.25 | 4.00 | 4.00 | ||||||||
| Bank First | 0.75 | 1.00 | 4.55 | 4.55 | 4.75 | 4.75 | 4.75 | 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.