Summary: Modest number of rate changes; 12 reductions, 6 increases; Commonwealth reverses previous week’s changes; notable changes from Great Southern; highest rate in survey unchanged at 5.15%.
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. 12 of the 18 changes took the form of rate reductions.
One of the major banks changed a handful of its various term-deposit rates. Commonwealth Bank reversed the previous week’s reductions on its deposits of 2 months, 3 months and 4 months as well as the modest increases on its 9-month and 1-year rates.
Among the smaller ADIs, the only particularly notable set of changes came from the Great Southern Bank. Almost all of its rates were reduced by amounts ranging from 5bps to 20bps.
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 remains at 5.15% (Judo 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 | 1.45 | 3.15 | 3.25 | 3.35 | 3.50 | 3.80 | 4.20 | 3.80 | 3.10 | 3.10 | 3.10 |
| CBA | 1.25 | 1.50 | 3.10 | 3.20 | 3.30 | 3.40 | 4.45 | 4.45 | 3.75 | 3.50 | 3.50 | 3.50 |
| NAB | 1.25 | 1.45 | 3.15 | 3.25 | 3.35 | 3.50 | 3.80 | 4.40 | 3.80 | 3.10 | 3.10 | 3.10 |
| Westpac | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.60 | 4.00 | 4.00 | 3.80 | 3.60 | 3.60 | 3.60 |
| Military Bank | 3.50 | 3.50 | 3.50 | 4.90 | 4.90 | 4.70 | 4.65 | 3.95 | ||||
| AMP Bank | 0.10 | 0.20 | 4.70 | 4.80 | 4.60 | 4.90 | 4.80 | 4.95 | 4.20 | 3.00 | 3.00 | 3.00 |
| Arab Bank Australia | 1.50 | 1.50 | 4.35 | 4.10 | 4.10 | 4.80 | 4.65 | 4.50 | 3.95 | 3.85 | 3.85 | 3.75 |
| Bank of Melbourne | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.60 | 4.00 | 4.00 | 3.80 | 3.60 | 3.60 | 3.60 |
| Bank Australia | 4.70 | 4.80 | 4.80 | 4.70 | 4.25 | 4.00 | ||||||
| BankSA | 1.25 | 1.45 | 3.25 | 3.35 | 3.45 | 3.55 | 3.95 | 3.95 | 3.95 | 3.75 | 3.55 | 3.55 |
| Bankwest | 2.00 | 2.00 | 3.75 | 3.00 | 3.00 | 4.25 | 4.00 | 4.70 | 3.90 | 3.80 | 3.80 | 3.80 |
| Bank of Sydney | 1.25 | 1.50 | 3.50 | 5.00 | 4.50 | 3.90 | 3.90 | 4.00 | ||||
| BankVic | 3.60 | 4.00 | 3.70 | 4.80 | 3.70 | 4.65 | 4.00 | 4.00 | 4.00 | 4.00 | ||
| Beyond Bank | 4.35 | 4.60 | 4.80 | 4.60 | 3.90 | 3.80 | 3.80 | 3.80 | ||||
| Bendigo Bank | 1.25 | 1.50 | 3.50 | 4.00 | 3.00 | 4.00 | 4.40 | 4.50 | 3.95 | 4.45 | 3.20 | 3.25 |
| Bank of Queensland | 0.75 | 0.80 | 2.25 | 4.75 | 1.25 | 4.75 | 4.65 | 4.60 | 4.60 | 3.30 | 3.30 | |
| BOQ Specialist | 4.60 | 4.80 | 4.80 | 4.70 | 4.65 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.55 | 2.95 | 4.60 | 4.45 | 4.40 | 4.35 | 4.00 | 3.60 | 3.60 | 3.60 |
| Defence Bank | 4.25 | 3.60 | 3.70 | 4.45 | 4.00 | |||||||
| Greater Bank | 1.00 | 1.00 | 4.00 | 4.00 | 4.00 | 4.75 | 4.00 | 4.55 | 4.00 | 4.00 | 4.00 | 4.00 |
| Heritage Bank | 1.25 | 1.50 | 3.95 | 3.60 | 3.60 | 4.65 | 4.45 | 4.40 | 4.10 | 3.90 | 3.90 | 3.90 |
| Horizon Credit Union | 1.25 | 1.50 | 3.90 | 3.70 | 4.30 | 4.70 | 4.50 | 3.80 | 3.70 | |||
| HSBC | 1.85 | 2.00 | 4.50 | 3.75 | 3.75 | 4.40 | 4.30 | 4.20 | 4.10 | 4.00 | 4.00 | 4.00 |
| IMB | 4.20 | 4.75 | 4.60 | 4.00 | 4.00 | 4.00 | 4.00 | |||||
| ING Direct | 4.85 | 4.85 | 4.95 | 4.65 | 4.95 | 4.40 | ||||||
| in1bank | 4.00 | 4.10 | 4.35 | 4.43 | 4.48 | 4.61 | 4.56 | 4.50 | 4.40 | |||
| Judo Bank | 5.00 | 5.15 | 5.05 | 5.00 | 4.70 | 4.60 | 4.45 | 4.45 | ||||
| Macquarie Bank | 2.10 | 2.10 | 4.93 | 4.87 | 4.82 | 4.79 | 4.79 | 3.90 | 3.80 | 3.80 | 3.80 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.80 | 1.25 | 4.80 | 4.70 | 4.65 | 2.00 | 2.00 | 2.00 | 2.00 |
| MyState | 0.50 | 0.50 | 4.00 | 4.20 | 4.95 | 4.60 | 4.75 | 4.65 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 4.00 | 4.00 | 4.00 | 4.75 | 4.00 | 4.55 | 4.00 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.60 | 3.60 | 4.65 | 4.45 | 4.40 | 4.10 | 3.90 | 3.90 | 3.90 | |
| Police Bank | 4.10 | 3.75 | 3.00 | 4.00 | 5.00 | 4.75 | ||||||
| P&N Bank | 1.75 | 4.30 | 4.90 | 4.00 | 4.85 | 4.00 | 3.80 | 3.80 | 3.70 | 3.70 | 3.70 | |
| RACQ Bank | 0.55 | 1.60 | 4.85 | 3.50 | 3.50 | 4.90 | 4.65 | 4.65 | 3.90 | 3.90 | 3.90 | 3.90 |
| Rabobank Australia | 2.00 | 2.10 | 4.85 | 4.50 | 4.50 | 4.90 | 4.70 | 4.55 | 4.00 | 4.00 | 4.30 | 4.40 |
| Rural Bank | 1.25 | 1.50 | 3.50 | 4.00 | 3.00 | 4.00 | 4.40 | 4.50 | 3.30 | 3.30 | 3.30 | 3.30 |
| St. George Bank - Except VIC | 1.25 | 1.45 | 3.55 | 3.60 | 3.70 | 3.60 | 3.80 | 4.00 | 3.80 | 3.60 | 3.60 | 3.60 |
| Suncorp Bank | 1.30 | 1.90 | 4.60 | 4.70 | 3.45 | 3.70 | 3.90 | 4.15 | 3.95 | 3.95 | 3.95 | |
| Teachers Mutual Bank | 4.80 | 4.80 | 4.80 | 4.75 | 4.05 | 4.60 | 4.00 | 4.00 | ||||
| The Capricornian | 3.00 | 3.25 | 4.00 | 4.00 | ||||||||
| Bank First | 0.75 | 1.00 | 4.65 | 4.65 | 4.80 | 4.75 | 4.65 | 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.