Summary: Moderate number of rate changes; 9 reductions, 25 increases; noteworthy changes from Teachers Mutual, Rabobank Australia; highest rate in survey now at 5.20%.
There were a moderate amount of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. Of the 34 changes, 25 took the form of rate increases.
None of the major banks changed their term-deposit rates.
Among the smaller ADIs, the most noticeable set of changes came from Teachers Mutual Bank. It raised rates on Its 3-month, 4-month and 5-month deposits by 125bps each while its 6-month rate was increased by 65bps.
Rabobank Australia’s changes were broader but not as large. Its rates on terms of 6-months and longer were raised by amounts ranging from 10bps to 40bps while its 3-month rates were increased by 5bps.
See our table below for the latest rates and terms which are available. The highest rate in this week’s survey increased to 5.20% after Great Southern Bank raised its 6-month, 9-month and 12-month rates.
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 | 1.25 | 1.50 | 3.50 | 3.60 | 3.70 | 4.10 | 4.00 | 4.70 | 4.00 | 4.00 | 4.00 | 4.00 |
| 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 | 4.70 | 4.00 | 3.80 | 3.80 | 3.80 |
| 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 | 4.80 | 4.80 | 4.80 | 3.95 | 3.95 | ||||
| AMP Bank | 0.10 | 0.20 | 4.75 | 4.75 | 4.75 | 5.05 | 5.05 | 5.05 | 4.80 | 3.30 | 3.30 | 3.30 |
| Arab Bank Australia | 1.50 | 1.50 | 4.45 | 4.20 | 4.20 | 5.10 | 5.05 | 4.75 | 4.05 | 3.95 | 3.95 | 4.00 |
| 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 | 5.00 | 4.80 | 4.85 | 4.50 | 4.40 | ||||||
| BankSA | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 4.05 | 4.30 | 4.30 | 4.05 | 4.05 | 4.05 |
| Bankwest | 2.00 | 2.00 | 3.75 | 3.00 | 3.00 | 4.25 | 4.25 | 4.75 | 4.40 | 4.00 | 4.00 | 4.00 |
| Bank of Sydney | 1.25 | 1.50 | 4.90 | 4.00 | 4.00 | 5.15 | 5.05 | 5.05 | ||||
| BankVic | 3.60 | 4.00 | 3.70 | 4.80 | 3.70 | 4.75 | 4.50 | 4.50 | 4.50 | 4.50 | ||
| Beyond Bank | 4.40 | 4.60 | 4.80 | 4.60 | 4.00 | 4.00 | 4.00 | 4.00 | ||||
| Bendigo Bank | 1.25 | 1.50 | 3.50 | 3.60 | 3.00 | 4.00 | 4.00 | 4.75 | 3.95 | 4.70 | 3.90 | 3.95 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.60 | 1.25 | 4.90 | 4.90 | 4.80 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 4.60 | 4.70 | 4.95 | 4.95 | 4.85 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.90 | 2.95 | 2.95 | 5.20 | 5.20 | 5.20 | 4.40 | 3.80 | 3.80 | 3.80 |
| Defence Bank | 4.25 | 4.45 | 4.50 | 4.70 | 4.40 | |||||||
| Greater Bank | 1.00 | 1.00 | 3.50 | 3.50 | 3.50 | 4.60 | 4.00 | 4.50 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.80 | 4.75 | 4.20 | 4.00 | 4.00 | 4.00 |
| Horizon Credit Union | 1.25 | 1.50 | 4.00 | 3.70 | 4.50 | 4.00 | 4.70 | 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 | 4.75 | 4.70 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.75 | 4.75 | 4.85 | 4.65 | 4.90 | 4.50 | ||||||
| in1bank | 4.00 | 4.10 | 4.35 | 4.43 | 4.48 | 4.61 | 4.50 | 4.50 | 4.40 | |||
| Judo Bank | 4.90 | 5.10 | 5.10 | 5.10 | 5.05 | 4.95 | 5.05 | 5.05 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.80 | 4.75 | 4.70 | 4.65 | 4.65 | 4.35 | 4.25 | 4.25 | 4.25 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.65 | 1.25 | 4.85 | 4.85 | 4.85 | 4.30 | 3.50 | 3.50 | 3.50 |
| MyState | 0.50 | 0.50 | 2.50 | 4.20 | 4.40 | 4.60 | 4.85 | 4.80 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 3.50 | 3.50 | 3.50 | 4.60 | 4.00 | 4.50 | 4.00 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.60 | 3.60 | 4.90 | 4.80 | 4.65 | 4.12 | 3.93 | 3.93 | 3.93 | |
| Police Bank | 3.50 | 3.75 | 3.00 | 4.00 | 3.75 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.60 | 3.75 | 3.40 | 4.55 | 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 | 5.00 | 4.90 | 5.00 | 4.50 | 4.50 | 5.00 | 5.10 |
| Rural Bank | 1.25 | 1.50 | 3.50 | 3.60 | 3.00 | 4.00 | 4.00 | 4.75 | 3.95 | 4.00 | 4.00 | 4.00 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.80 | 3.90 | 4.30 | 4.05 | 4.05 | 4.05 | 4.05 |
| Suncorp Bank | 1.30 | 1.90 | 3.05 | 4.45 | 3.45 | 3.65 | 4.40 | 4.90 | 3.95 | 3.95 | 3.95 | 3.95 |
| Teachers Mutual Bank | 4.75 | 4.75 | 4.75 | 4.65 | 4.05 | 4.75 | 4.00 | 4.00 | ||||
| The Capricornian | 3.00 | 3.25 | 4.00 | 4.00 | ||||||||
| Bank First | 0.75 | 1.00 | 4.60 | 4.60 | 4.75 | 4.75 | 4.75 | 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.