Summary: Moderate number of rate changes; 13 increases, 22 reductions; notable rate changes from Bank of Sydney, AMP Bank, RACQ; Military Bank has highest rate in survey.
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 35 changes which took place, 22 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 the Bank of Sydney. Rates on its 3-month and 6-month terms were cut by 85bps and 100bps respectively.
AMP Bank’s changes were not nearly as large but they were broader. Its 3-month and 4-month rates were lowered by 10bps and its 5-month rate was reduced by 20bps. Rates on longer terms were all decreased by 15bps.
Another notable set of changes was made by RACQ Bank. Its 3-month rate was raised by 45bps while 6-month, 9-monthand 1-year rates were raised by 20bps, 50bps and 25bps respectively.
See our table below for any other changes as well as the latest rates and terms which are available. Military Bank’s 2-year and 3-year rates offers the highest rate in this week’s survey.
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 | 4.90 | 4.90 | 5.00 | 5.10 | 5.15 | 5.20 | 5.35 | 5.35 | ||||
| AMP Bank | 0.10 | 0.20 | 4.75 | 4.75 | 4.95 | 5.00 | 4.95 | 5.05 | 4.90 | 4.90 | 4.90 | 4.90 |
| Arab Bank Australia | 2.50 | 2.75 | 5.00 | 5.05 | 5.10 | 5.20 | 5.25 | 5.30 | 4.10 | 4.10 | 4.10 | 4.10 |
| 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 | 5.00 | 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 | 1.75 | 1.75 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.30 | ||||
| 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 | 1.90 | 3.50 | 4.30 | 3.00 | 4.20 | 4.10 | 4.90 | 3.95 | 4.00 | 4.00 | 4.00 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.40 | 1.25 | 4.80 | 4.90 | 5.00 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 4.50 | 4.75 | 4.75 | 5.10 | 5.20 | 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 | 4.65 | 2.95 | 2.95 | 4.95 | 5.00 | 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 | 3.35 | 3.35 | 4.80 | 3.65 | 5.15 | 4.20 | 4.00 | 4.00 | 4.00 |
| Horizon Credit Union | 1.25 | 1.50 | 3.70 | 3.70 | 4.20 | 3.70 | 4.75 | 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 | 3.75 | 4.25 | 4.75 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.95 | 4.95 | 5.10 | 5.15 | 5.25 | 5.10 | ||||||
| Judo Bank | 4.75 | 4.95 | 4.95 | 5.10 | 5.15 | 5.15 | 5.15 | 5.15 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.70 | 4.70 | 4.70 | 4.75 | 4.85 | 3.90 | 3.60 | 3.60 | 3.65 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.75 | 1.25 | 3.10 | 5.00 | 5.05 | 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 | 3.35 | 3.35 | 4.80 | 3.65 | 5.15 | 4.20 | 4.00 | 4.00 | 4.00 | |
| Police Bank | 3.50 | 3.50 | 1.90 | 3.75 | 2.05 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.65 | 3.75 | 3.40 | 4.80 | 5.00 | 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 | 4.90 | 4.90 | 5.00 | 4.90 | 4.90 | 5.00 | 5.10 |
| Rural Bank | 1.25 | 1.90 | 3.50 | 4.30 | 3.00 | 4.20 | 4.10 | 4.90 | 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 | 4.60 | 5.00 | 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 | 4.65 | 4.65 | 4.85 | 4.85 | 4.90 | 4.25 | 4.25 | 4.25 | 4.25 |
*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.