Summary: Very large number of rate changes; 104 increases, 1 decrease; notable rate changes from BoQ, Heritage/People’s Choice, HSBC, Judo, Great Southern; Judo offers highest rate in survey.
There were a very 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 105 changes which took place, 104 took the form of rate increases.
None of the major banks changed their respective term deposit rates this week.
Among the smaller ADIs, the most notable changes came from the Bank of Queensland. It raised its 3-month rate by 225bps, its 6-month rate by 135bps and its 1-year rate by 90bps.
Another notable set of changes was made by Heritage Bank. Rates on its terms of 3 months to 1 year were raised by amounts ranging from 35bps to 70bps while rates on terms of 2-years to 5 years were raised by 15bps. Sibling bank People’s Choice made identical changes.
Other changes worthy of mention came from HSBC, Judo and Great Southern.
See our table below for any other changes as well as the latest rates and terms which are available. Judo Bank’s 5-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 | 3.00 | 3.25 | 3.40 | 3.50 | 3.75 | 3.75 | 4.00 | 4.00 | 4.00 | 4.00 |
| NAB | 1.25 | 1.45 | 3.00 | 3.10 | 3.25 | 3.55 | 3.70 | 4.60 | 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 | 4.60 | 4.60 | 4.75 | 4.75 | 4.80 | 5.00 | 4.95 | 4.95 | 4.95 | 4.95 |
| 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 | 3.15 | 2.60 | 2.70 | 3.90 | 3.90 | 4.25 | 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 | 4.60 | 4.60 | 4.80 | 4.80 | 5.00 | 4.65 | ||||||
| Judo Bank | 4.85 | 5.17 | 5.15 | 5.15 | 5.00 | 5.00 | 5.00 | 5.00 | ||||
| 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 | 4.75 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 4.00 | 2.25 | 2.25 | 3.80 | 2.85 | 4.50 | 4.25 | 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 | 3.25 | 3.50 | 1.90 | 3.50 | 2.05 | 4.25 | ||||||
| P&N Bank | 1.75 | 4.00 | 3.75 | 3.40 | 4.55 | 4.20 | 4.55 | 4.55 | 4.20 | 4.20 | 4.20 | |
| RACQ Bank | 0.55 | 1.60 | 4.00 | 3.50 | 3.50 | 4.25 | 4.25 | 4.50 | 4.20 | 3.95 | 3.95 | 3.95 |
| Rabobank Australia | 2.00 | 2.10 | 4.50 | 4.50 | 4.50 | 4.70 | 4.80 | 5.00 | 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 | 2.15 | 3.00 | 3.85 | 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 | 4.40 | 4.40 | 4.60 | 4.60 | 4.70 | 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.