Summary: Modest number of rate changes; 16 increases, 4 decreases; notable changes made by AMP, Greater, Judo; AMP Bank now offers highest rate in survey.
There were a modest number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 20 changes which took place, 16 took the form of rate increases. None of the major banks changes their term deposit rates.
Among the smaller ADIs, the most notable changes came from AMP Bank. It hiked its 6-month rate by 75bps, increased its 9-month rate by 15bps and raised its 1-year rate by 60bps. AMP’s rates on terms of 2 years or longer were each raised by 25bps.
Greater Bank’s changes were notable for their size. Its 5-month rate was raised by 55bps but its 3-month rate was slashed by 105bps.
Judo Bank’s changes were notable for their direction. Its 3-year, 4-year and 5-year rates were all reduced by 10bps each.
See our table below for any other changes as well as the latest rates and terms which are available. AMP Bank’s 5-year deposit now offers the highest rate in this week’s survey.
| 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 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.10 | 0.10 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 |
| CBA | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.25 | 1.50 | 1.75 | 2.00 | 2.25 |
| NAB | 0.20 | 0.25 | 0.40 | 0.45 | 0.55 | 0.80 | 1.05 | 2.50 | 2.00 | 2.00 | 2.00 | 2.50 |
| Westpac | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.10 | 1.50 | 1.75 | 2.00 | 2.25 |
| Military Bank | 0.40 | 0.40 | 0.40 | 2.60 | 2.60 | 2.60 | 3.00 | 3.00 | ||||
| AMP Bank | 0.10 | 0.20 | 0.35 | 0.35 | 1.90 | 2.65 | 2.65 | 3.50 | 3.90 | 4.15 | 4.30 | 4.40 |
| Arab Bank Australia | 0.50 | 0.60 | 1.50 | 1.00 | 1.20 | 2.50 | 2.50 | 3.00 | 3.20 | 3.20 | 3.20 | 3.20 |
| Bank of Melbourne | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.10 | 1.50 | 1.75 | 2.00 | 2.25 |
| Bank Australia | 1.00 | 1.00 | 1.00 | 2.00 | 2.25 | 3.00 | 3.00 | 3.50 | ||||
| BankSA | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.10 | 1.50 | 1.75 | 2.00 | 2.25 |
| Bankwest | 0.25 | 0.40 | 0.55 | 0.55 | 0.55 | 1.00 | 0.75 | 2.50 | 2.30 | 2.30 | 2.30 | 2.30 |
| Bank of Sydney | 0.75 | 1.05 | 1.75 | 1.65 | 1.75 | 2.25 | 2.25 | 2.55 | ||||
| BankVic | 1.50 | 1.50 | 1.50 | 1.50 | 1.50 | 1.60 | 1.55 | 1.55 | 1.55 | 1.55 | ||
| Beyond Bank | 1.25 | 1.50 | 2.00 | 2.50 | 3.00 | 3.00 | 3.00 | 3.00 | ||||
| Bendigo Bank | 0.10 | 0.10 | 0.20 | 1.20 | 0.45 | 0.45 | 2.00 | 2.50 | 2.80 | 2.85 | 2.90 | 2.90 |
| Bank of Queensland | 0.05 | 0.08 | 1.25 | 0.10 | 0.10 | 2.00 | 1.75 | 2.75 | 3.00 | 3.00 | 3.00 | |
| BOQ Specialist | 1.75 | 0.40 | 2.50 | 2.75 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | |||
| Citibank | 0.50 | 1.65 | 2.50 | 2.75 | 3.30 | 3.30 | 3.30 | 3.30 | 3.30 | |||
| CUA | 0.60 | 0.75 | 1.50 | 0.70 | 0.70 | 2.50 | 2.70 | 3.00 | 3.30 | 3.40 | 3.50 | 3.60 |
| Defence Bank | 0.35 | 0.35 | 1.00 | 1.00 | 1.05 | 1.40 | 1.70 | 2.40 | 3.20 | |||
| Greater Bank | 0.10 | 0.10 | 0.20 | 0.20 | 0.75 | 1.75 | 2.25 | 2.75 | 3.25 | 3.30 | 3.40 | 3.50 |
| Heritage Bank | 0.20 | 0.30 | 0.55 | 0.90 | 0.40 | 0.40 | 1.75 | 2.50 | 2.75 | 2.75 | 3.00 | 3.00 |
| Horizon Credit Union | 0.80 | 0.90 | 1.00 | 1.00 | 1.20 | 1.50 | 2.50 | 2.80 | 3.00 | |||
| HSBC | 0.25 | 0.30 | 1.10 | 0.65 | 0.65 | 1.50 | 2.00 | 2.50 | 3.00 | 3.00 | 3.00 | 3.00 |
| IMB | 0.10 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 1.25 | 1.50 | 1.75 | 2.00 |
| ING Direct | 1.15 | 1.25 | 2.40 | 2.25 | 3.25 | 3.30 | ||||||
| Judo Bank | 1.90 | 2.60 | 2.90 | 3.45 | 3.85 | 4.00 | 4.15 | 4.25 | ||||
| Macquarie Bank | 0.05 | 0.85 | 1.85 | 1.85 | 2.50 | 2.80 | 3.30 | 3.40 | 3.45 | 3.60 | 3.60 | |
| ME Bank | 0.15 | 0.15 | 1.50 | 0.40 | 0.40 | 2.50 | 2.75 | 3.00 | 3.25 | 3.25 | 3.25 | 3.25 |
| MyState | 0.50 | 0.50 | 1.00 | 1.30 | 2.00 | 1.75 | 2.50 | 3.05 | 3.35 | |||
| Newcastle Permanent | 0.15 | 0.15 | 1.20 | 1.20 | 1.20 | 1.90 | 2.00 | 2.75 | 2.80 | 2.80 | 2.80 | 2.80 |
| People's Choice Credit Union | 0.40 | 1.35 | 0.70 | 0.70 | 2.00 | 1.60 | 2.75 | 2.80 | 2.95 | 3.00 | 3.00 | |
| Police Bank | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 1.00 | 2.25 | ||||
| P&N Bank | 1.35 | 1.50 | 1.35 | 1.35 | 2.00 | 1.35 | 2.75 | 2.75 | 3.00 | 3.00 | 3.00 | |
| QT Mutual Bank | 0.20 | 0.60 | 1.20 | 1.30 | 1.50 | 1.80 | 2.30 | 3.00 | 3.20 | 3.40 | 3.60 | 3.85 |
| Rabobank Australia | 0.50 | 0.50 | 1.75 | 1.75 | 1.75 | 2.40 | 2.70 | 3.25 | 3.30 | 3.35 | 3.50 | 4.00 |
| Rural Bank | 0.10 | 0.10 | 0.20 | 1.20 | 0.45 | 0.75 | 2.00 | 2.50 | 2.80 | 2.85 | 2.90 | 2.90 |
| St. George Bank - Except VIC | 0.20 | 0.25 | 0.35 | 0.40 | 0.60 | 0.80 | 1.00 | 1.10 | 1.50 | 1.75 | 2.00 | 2.25 |
| Suncorp Bank | 0.25 | 0.45 | 1.25 | 0.45 | 0.45 | 2.10 | 2.20 | 2.70 | 3.15 | 3.25 | 3.35 | 3.45 |
| Teachers Mutual Bank | 0.75 | 0.75 | 0.75 | 1.00 | 1.50 | 2.30 | 3.20 | 3.80 | ||||
| The Capricornian | 0.30 | 0.75 | 1.75 | 2.00 | ||||||||
| UBank | 0.40 | 0.65 | 1.55 | 1.55 | 1.55 | 2.40 | 2.65 | 3.20 | ||||
| Bank First | 0.15 | 0.20 | 1.75 | 1.75 | 2.25 | 2.50 | 2.75 | 3.00 | 3.25 | 3.50 | 3.75 |
*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 and rate sheets.