Summary: Large number of rate changes; 67 increases, 1 decrease; ANZ raises some rates; notable rate changes from Military Bank, BankVic Great Southern, Bank Australia and Greater Bank; Judo offers highest rate in survey.
There were a large number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 68 changes which took place, 67 took the form of rate increases.
One of the major banks changed its term deposit rates this week. ANZ raised its 3-month rate by 50bps and its 2-year rate by 55bps. Rates on deposits of 3 years and longer were increased by 5bps.
Among the smaller ADIs, the most notable changes came from Military Bank. It rates on terms of 3 months to 1 year were raised by amounts ranging from 30bps to 40bps while its 2-year and 3-year deposit rates were both increased by 80bps.
Another notable set of changes was made by BankVic. Rates on its terms of 3 months out to 5 years were all raised by 25bps.
Other changes worthy of mention came from Great Southern, Bank Australia and Greater Bank.
See our table below for any other changes as well as the latest rates and terms which are available. Judo Bank’s 6-month, 9-month and 1-year rates 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 | 4.95 | 4.95 | 5.15 | 5.15 | 5.25 | 5.35 | 5.15 | 5.10 | 5.10 | 5.10 |
| 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 | 4.00 | 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 | 5.00 | 4.65 | 5.05 | 5.30 | 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 | 2.30 | 4.75 | 4.10 | 5.00 | 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 | 5.15 | 5.45 | 5.45 | 5.45 | 5.30 | 5.30 | 5.10 | 5.20 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.70 | 4.75 | 4.90 | 4.95 | 5.00 | 3.90 | 3.60 | 3.60 | 3.65 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.50 | 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 | 4.40 | 4.70 | 5.00 | 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 | 4.50 | ||||||
| P&N Bank | 1.75 | 4.00 | 3.75 | 3.40 | 4.55 | 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 | 4.60 | 4.60 | 4.60 | 4.80 | 4.90 | 5.05 | 4.85 | 4.85 | 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 | 4.55 | 4.55 | 4.80 | 4.80 | 5.00 | 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.