Summary: Large number of rate changes; 66 increases, zero decreases; notable rate changes from AMP Bank, NAB, CBA; AMP Bank 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. All 66 changes took the form of rate increases.
Of the 4 major banks, CBA and NAB increased their short term deposit rates from 3 monthes to 1 year this week.
Among the smaller ADIs, the most notable changes came from the AMP Bank. It increased its rates on term deposits longer than 2 months.
Another notable set of changes was made by NAB and CBA. Rates on their terms of 3 months to 1 year were raised by amounts ranging from 15bps to 50bps.
Other changes worthy of mention came from Bankwest and The Capricornian.
See our table below for any other changes as well as the latest rates and terms which are available. AMP Bank’s 1-year deposit 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 | 3.00 | 4.20 | 3.40 | 3.45 | 3.70 | 4.60 | 3.95 | 3.95 | 3.95 | 3.95 |
| 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 | 4.55 | 4.55 | 4.60 | 4.80 | 4.80 | 4.90 | 4.55 | 4.55 | ||||
| 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 | 4.20 | 4.60 | 4.30 | 4.40 | 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 | 3.10 | 3.20 | 4.80 | 4.65 | 4.85 | 5.05 | 4.85 | 5.00 | ||||
| BankVic | 3.20 | 3.20 | 3.20 | 4.00 | 4.00 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | ||
| Beyond Bank | 4.00 | 4.25 | 4.25 | 4.35 | 4.10 | 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 | 4.20 | 2.50 | 2.50 | 4.50 | 4.55 | 4.60 | 4.20 | 4.00 | 4.00 | 4.00 |
| Defence Bank | 3.85 | 4.20 | 4.25 | 4.65 | 4.40 | |||||||
| Greater Bank | 0.10 | 0.10 | 3.25 | 2.50 | 2.50 | 4.20 | 3.60 | 4.50 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.35 | 3.35 | 4.60 | 3.65 | 5.00 | 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 | 5.05 | 5.32 | 5.25 | 5.30 | 5.05 | 5.05 | 5.10 | 5.15 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.75 | 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 | 4.60 | 3.65 | 5.00 | 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 | 4.25 | 3.45 | 3.75 | 4.40 | 4.55 | 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.