Summary: Large number of rate changes; 57 reductions, 9 increases; no rate changes by major banks; notable changes from Rural, Suncorp; highest rate in survey remains at 5.10%.
There were a large number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) again in this week’s YieldReport survey. 57 of the 66 changes took the form of rate reductions.
Among the smaller ADIs, the most notable set of changes came from Rural Bank. Is 1-year rate was lowered by 10bps but its 2-year rate was dropped by 65bps while 3-year, 4-year and 5-year rates were each cut by 70bps.
Another notable set of changes came from Suncorp. Its 9-month and 12-month rates were cut by 50bps and 45bps respectively but its 4-month rate was hiked by 165bps and its 3-month and 6-month rates were raised by 15bps and 10bps respectively.
See our table below for any other changes as well as the latest rates and terms which are available. The highest rate in this week’s survey remained at 5.10% and it is offered by Military Bank.
| 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 | 1.25 | 1.50 | 3.25 | 3.30 | 3.40 | 3.50 | 3.90 | 4.50 | 4.00 | 4.00 | 4.00 | 4.00 |
| CBA | 1.25 | 1.50 | 3.25 | 3.30 | 3.40 | 3.50 | 4.50 | 4.50 | 3.80 | 3.60 | 3.60 | 3.60 |
| NAB | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.60 | 4.00 | 4.50 | 4.00 | 3.30 | 3.30 | 3.30 |
| Westpac | 1.25 | 1.45 | 3.50 | 3.55 | 3.65 | 3.75 | 4.00 | 4.25 | 4.00 | 4.00 | 4.00 | 4.00 |
| Military Bank | 3.50 | 3.50 | 3.50 | 5.10 | 5.10 | 4.80 | 4.65 | 3.95 | ||||
| AMP Bank | 0.10 | 0.20 | 4.70 | 4.60 | 4.60 | 4.80 | 4.80 | 4.75 | 4.25 | 3.30 | 3.30 | 3.30 |
| Arab Bank Australia | 1.50 | 1.50 | 4.35 | 4.10 | 4.10 | 4.90 | 4.80 | 4.60 | 3.95 | 3.85 | 3.85 | 3.75 |
| Bank of Melbourne | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 4.05 | 4.30 | 4.05 | 4.05 | 4.05 | 4.05 |
| Bank Australia | 4.70 | 4.90 | 4.80 | 4.70 | 4.25 | 4.00 | ||||||
| BankSA | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.75 | 4.00 | 4.25 | 4.25 | 4.00 | 4.00 | 4.00 |
| Bankwest | 2.00 | 2.00 | 3.75 | 3.00 | 3.00 | 4.25 | 4.00 | 4.85 | 4.00 | 4.00 | 4.00 | 4.00 |
| Bank of Sydney | 1.25 | 1.50 | 3.55 | 4.00 | 4.00 | 4.60 | 4.00 | 4.25 | ||||
| BankVic | 3.60 | 4.00 | 3.70 | 5.00 | 3.70 | 4.70 | 4.00 | 4.00 | 4.00 | 4.00 | ||
| Beyond Bank | 4.35 | 4.70 | 4.90 | 4.70 | 4.00 | 3.80 | 3.80 | 3.80 | ||||
| Bendigo Bank | 1.25 | 1.50 | 3.50 | 3.60 | 3.00 | 4.00 | 4.00 | 4.65 | 3.95 | 4.60 | 3.20 | 3.25 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.75 | 1.25 | 4.90 | 4.70 | 4.70 | 4.70 | 3.30 | 3.30 | |
| BOQ Specialist | 4.60 | 4.75 | 4.90 | 4.70 | 4.70 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.65 | 2.95 | 4.70 | 4.55 | 4.45 | 4.45 | 4.20 | 3.80 | 3.80 | 3.80 |
| Defence Bank | 4.25 | 3.60 | 3.70 | 4.45 | 4.00 | |||||||
| Greater Bank | 1.00 | 1.00 | 3.75 | 3.50 | 3.50 | 5.05 | 4.00 | 4.80 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.70 | 4.75 | 4.20 | 4.00 | 4.00 | 4.00 |
| Horizon Credit Union | 1.25 | 1.50 | 3.90 | 3.70 | 4.30 | 4.80 | 4.60 | 3.90 | 3.80 | |||
| HSBC | 1.85 | 2.00 | 4.00 | 3.75 | 3.75 | 4.40 | 4.50 | 5.00 | 4.10 | 4.00 | 4.00 | 4.00 |
| IMB | 4.20 | 4.85 | 4.80 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.85 | 4.85 | 4.95 | 4.65 | 5.05 | 4.95 | ||||||
| in1bank | 4.00 | 4.10 | 4.35 | 4.43 | 4.48 | 4.61 | 4.56 | 4.50 | 4.40 | |||
| Judo Bank | 4.90 | 5.00 | 4.90 | 4.90 | 4.65 | 4.55 | 4.55 | 4.55 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.90 | 4.80 | 4.80 | 4.70 | 4.65 | 3.90 | 3.80 | 3.80 | 3.80 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.75 | 1.25 | 4.90 | 4.70 | 4.70 | 2.00 | 2.00 | 2.00 | 2.00 |
| MyState | 0.50 | 0.50 | 4.00 | 4.20 | 4.50 | 4.60 | 4.75 | 4.75 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 4.00 | 4.00 | 4.00 | 4.90 | 4.00 | 4.75 | 3.90 | 3.90 | 3.90 | 3.90 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.70 | 4.75 | 4.20 | 4.00 | 4.00 | 4.00 | |
| Police Bank | 3.50 | 3.75 | 3.00 | 4.00 | 3.75 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.60 | 4.50 | 4.85 | 4.70 | 4.40 | 4.55 | 4.55 | 4.20 | 4.20 | 4.20 | |
| RACQ Bank | 0.55 | 1.60 | 4.80 | 3.50 | 3.50 | 4.85 | 4.75 | 4.75 | 4.20 | 3.95 | 3.95 | 3.95 |
| Rabobank Australia | 2.00 | 2.10 | 4.85 | 4.50 | 4.50 | 4.80 | 4.70 | 4.60 | 4.25 | 4.25 | 4.50 | 4.60 |
| Rural Bank | 1.25 | 1.50 | 3.50 | 3.60 | 3.00 | 4.00 | 4.00 | 4.65 | 3.30 | 3.30 | 3.30 | 3.30 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 3.85 | 4.30 | 4.05 | 4.05 | 4.05 | 4.05 |
| Suncorp Bank | 1.30 | 1.90 | 4.60 | 4.70 | 3.45 | 4.90 | 4.55 | 4.45 | 3.95 | 3.95 | 3.95 | 3.95 |
| Teachers Mutual Bank | 4.95 | 4.95 | 4.95 | 4.95 | 4.05 | 4.75 | 4.00 | 4.00 | ||||
| The Capricornian | 3.00 | 3.25 | 4.00 | 4.00 | ||||||||
| Bank First | 0.75 | 1.00 | 4.70 | 4.70 | 4.85 | 4.85 | 4.85 | 4.00 | 4.00 | 4.00 | 4.00 |
*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.