Summary: Moderate number of rate changes; 36 increases, 4 decreases; notable rate changes from BoQ Specialist, Rabobank Australia, AMP Bank, P&N Bank, Bank of Sydney; Bank of Sydney offers 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 40 changes which took place, 36 took the form of rate increases.
None of the major banks changed their term deposit rates this week.
Among the smaller ADIs, the most notable changes came from BOQ Specialist. Its 4-month rates was hiked by 245bps while its 9-month and 1-year rates were increased by 100bps and 20bps respectively.
Another notable set of changes was made by Rabobank Australia. Rates on its terms of 3 months out to 3 years were all raised by 15bps with the exceptions of 6-month, 9-month and 1-year terms in which rates were increased by 20bps, 10bps and 5bps respectively.
Other changes worthy of mention came from AMP Bank, P&N Bank and Bank of Sydney.
See our table below for any other changes as well as the latest rates and terms which are available. Bank of Sydney 6-month rate now offer 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 | 3.80 | 4.00 | 4.75 | 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 | 3.80 | 4.00 | 4.75 | 4.00 | 4.00 | 4.00 | 4.00 |
| Westpac | 1.25 | 1.45 | 3.00 | 3.10 | 3.20 | 3.30 | 3.55 | 3.95 | 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 | 5.15 | 5.15 | 5.15 | 5.15 | 5.45 | 5.45 | 5.20 | 5.20 | 5.20 | 5.20 |
| Arab Bank Australia | 2.50 | 2.75 | 4.00 | 4.15 | 4.80 | 4.40 | 4.50 | 4.75 | 4.10 | 4.10 | 4.10 | 4.10 |
| Bank of Melbourne | 1.25 | 1.45 | 3.05 | 3.15 | 3.25 | 3.35 | 3.60 | 4.00 | 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 | 3.05 | 3.15 | 3.25 | 3.35 | 3.60 | 4.00 | 4.05 | 4.05 | 4.05 | 4.05 |
| Bankwest | 1.25 | 1.50 | 3.50 | 3.00 | 3.00 | 4.00 | 4.00 | 4.55 | 4.00 | 4.00 | 4.00 | 4.00 |
| Bank of Sydney | 3.20 | 3.30 | 5.20 | 4.65 | 5.05 | 5.50 | 4.85 | 5.00 | ||||
| BankVic | 3.45 | 3.45 | 3.45 | 4.25 | 4.25 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | ||
| Beyond Bank | 4.15 | 4.50 | 4.60 | 4.60 | 4.40 | 4.00 | 4.00 | 4.00 | ||||
| Bendigo Bank | 1.25 | 1.90 | 3.00 | 4.30 | 3.00 | 4.05 | 3.80 | 4.75 | 3.30 | 3.35 | 3.35 | 3.35 |
| 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 | 4.95 | 4.65 | 4.65 | 4.65 | 4.65 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.40 | 2.70 | 2.70 | 4.85 | 4.90 | 5.00 | 4.20 | 4.20 | 4.20 | 4.20 |
| Defence Bank | 3.85 | 4.20 | 4.25 | 4.65 | 4.40 | |||||||
| Greater Bank | 0.10 | 0.10 | 3.50 | 2.50 | 2.50 | 4.20 | 3.60 | 4.80 | 5.00 | 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 | 3.50 | 3.60 | 4.20 | 3.70 | 4.40 | 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 | 3.50 | 4.00 | 4.60 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.75 | 4.75 | 4.95 | 4.95 | 5.00 | 4.90 | ||||||
| Judo Bank | 5.10 | 5.40 | 5.30 | 5.45 | 5.30 | 5.30 | 5.10 | 5.20 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.70 | 4.75 | 4.85 | 4.95 | 5.00 | 3.90 | 3.60 | 3.60 | 3.65 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.75 | 1.25 | 3.10 | 5.10 | 5.20 | 4.30 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 2.50 | 4.40 | 4.60 | 4.90 | 5.00 | 5.10 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 4.00 | 2.25 | 2.25 | 3.80 | 2.85 | 4.80 | 5.10 | 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 | 4.25 | 3.50 | 3.50 | 4.50 | 4.50 | 4.75 | 4.20 | 3.95 | 3.95 | 3.95 |
| Rabobank Australia | 2.00 | 2.10 | 4.75 | 4.75 | 4.75 | 5.00 | 5.00 | 5.10 | 5.00 | 5.00 | 5.10 | 5.20 |
| Rural Bank | 1.25 | 1.90 | 3.00 | 4.30 | 3.00 | 4.05 | 3.80 | 4.75 | 3.30 | 3.35 | 3.35 | 3.35 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 3.05 | 3.15 | 3.25 | 3.35 | 3.60 | 4.00 | 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 | ||||||||
| UBank | 0.65 | 0.90 | 2.25 | 2.25 | 2.25 | 2.60 | 2.90 | 3.40 | ||||
| Bank First | 0.75 | 1.00 | 4.75 | 4.75 | 4.95 | 4.95 | 5.05 | 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.