Summary:
The movements in term deposit rates by major and non-major banks continue to show variability. Over the past week, ending Oct 3, 2025, there were down movements, though stability is notable in some terms.
Our survey across 42 institutions indicates that the most contested term deposit term remains 6 months, followed by 3 months and 1 year, with sample sizes of 42 each.
This week the best rate with a 3-month term was 4.38%, steady from the week before, with in1bank offering the top rate. The median rate of 3.75% reflects a broad range from 2.25% to 4.38%.
This week the best rate within 6 months term was 4.20%, unchanged from last week, offered by Arab Bank Australia. The median rate of 3.95% shows a tight quartile spread of 0.50%, indicating consistency.
Interestingly, the best 5-year rate held at 4.30%, unchanged from last week, led by Judo Bank, with Rabobank Australia at 4.30%. The median rate held at 3.30%, with a range from 2.00% to 4.30%.
Our analysis shows term deposits with rates above 4% are holding strong. In the 3-month category, 6 institutions now offer over 4%, down from 9 last week. In the 6-month category, 12 institutions exceed 4%, down from 13, reinforcing the 6-month term’s competitiveness.
-
Institution 1 month 2 month 3 month 4 month 5 month 6 month 9 month 1 Year 2 Year 3 Year 4 Year 5 Year ANZ 1.20 1.45 2.70 2.80 2.90 2.95 3.20 3.65 3.40 2.90 2.90 2.90 Commonwealth Bank 1.20 1.45 2.85 2.95 3.00 3.05 3.20 3.50 3.40 3.40 3.40 3.40 NAB 1.20 1.45 2.75 2.90 2.90 3.00 3.15 3.70 2.90 2.90 2.90 2.90 Westpac 1.20 1.40 2.65 2.75 2.85 2.90 3.15 3.55 3.35 2.85 2.85 2.85 Military Bank 3.15 3.85 4.25 4.15 3.85 3.85 3.55 3.55 AMP Bank 0.10 0.20 3.80 3.80 3.90 4.00 3.85 3.80 3.60 3.00 3.00 3.00 Arab Bank Australia 1.25 1.25 3.95 3.80 3.80 4.20 3.85 3.75 3.40 3.30 3.30 3.20 Bank of Melbourne 1.20 1.40 2.65 2.75 2.85 2.90 3.15 3.25 2.80 2.75 2.75 2.75 Bank Australia 4.15 4.05 3.95 4.00 3.80 3.80 BankSA 1.20 1.40 2.65 2.75 2.85 2.90 3.15 3.50↓ 2.80 2.75↓ 2.75↓ 2.75↓ Bankwest 2.00 2.00 3.75 3.00 4.00 3.80 3.70 3.75 Bank of Sydney 1.25 1.50 3.85 3.50 3.50 4.00 4.00 4.15↑ BankVic 3.60 4.00 4.00↓ 4.00 3.70 3.85 3.85 3.85 3.85 3.85 Beyond Bank 3.85 3.70 3.55 3.60 3.25 3.15 Bendigo Bank 1.20 1.45 2.75 3.05 2.90 3.00 3.20 3.60 2.95 3.00 3.00 3.00 BOQ 0.75 0.80 2.25 4.00 1.25 4.00 3.85 3.90 3.00 3.00 3.00 BOQ Specialist 4.20 4.05 4.10 3.95 3.95 3.50 3.50 3.50 3.50 Great Southern Bank 1.30 1.60 3.95↓ 3.95↓ 3.90↓ 3.95↓ 3.90 3.95↓ 3.50 3.30 3.30 3.30 Defence Bank 3.35 3.35 3.95 3.50 3.50 3.50 3.00 Greater Bank 1.00 1.00 3.75 3.75 3.75 4.05 3.60 3.80 3.30 3.50 3.30 3.30 Heritage Bank 1.15 1.40 3.75 4.05 3.40 3.85 3.65 3.65 3.50 3.50 3.50 3.50 Horizon Credit Union 1.25 1.50 3.60 3.90 3.80 3.70 3.70 3.50 3.50 HSBC 1.85 2.00 3.50 3.00 3.00 3.40 3.40 3.40 3.50 3.50 3.50 3.50 IMB 4.00↓ 3.90↓ 3.80 3.50 3.60 4.00 4.00 ING Direct 3.75 3.75 4.15 3.90 4.10 4.00 in1bank 3.50↓ 3.55↓ 4.38↓ 4.10↓ 4.00↓ 4.00↓ 3.80↓ 3.70↓ 3.60↓ Judo Bank 3.95 3.95 4.10 3.90 3.95 4.00 4.20 4.30 Macquarie Bank 2.10 2.10 4.00 3.95 3.90 3.80 3.70 3.60 3.65 3.80 3.80 ME Bank 0.75 0.80 4.00↓ 4.05↓ 4.05↓ 4.10↓ 1.95 2.00 2.00 2.00 2.00 2.00 MyState Bank 0.50 0.50 3.80 3.85 4.00 4.10 3.85 3.90 3.50 Newcastle Permanent 1.00 1.00 3.75 3.75 3.75 4.05 3.60 3.80 3.30 3.50 3.30 3.30 People's Choice Credit Union 1.40 3.75 4.05 3.40 3.85 3.65 3.65 3.50 3.50 3.50 3.50 Police Bank 4.00 3.75 3.00 4.00 3.75 3.70 P&N Bank 1.60 3.75 4.05 3.00 3.80 3.60 3.70 3.70 3.70 3.70 3.70 RACQ Bank 0.55 1.60 4.15 3.50 3.50 4.10 3.85 3.85 3.30 3.30 3.30 3.30 Rabobank Australia 2.00 2.10 4.05 3.70 3.70 3.95 3.85 3.70 3.50 3.70 4.15 4.30 Bendigo Bank Agribusiness 2.00 2.00 3.00 3.85 4.00 3.55 St.George Bank - Except VIC 1.20 1.40 2.65 2.75 2.85 2.90 3.15 3.55 2.80 2.75 2.75 2.75 Suncorp Bank 1.30 2.00 4.00 3.50 3.25 4.00 3.70 3.50 3.70 3.20 3.20 3.20 Teachers Mutual Bank 4.05 4.00 3.75 4.05 3.95 3.85 3.25 3.25 The Capricornian 3.00 3.25 3.65 3.45 Bank First 0.75 1.00 4.00 4.00 4.05 3.80 3.80 3.30 3.30 3.30 3.30