Summary: Moderate number of rate changes; 27 reductions, 1 increase; no changes from major banks; notable changes from Bank of Sydney, Macquarie Bank; highest rate in survey remains at 5.10%.
There were a moderate number of rate changes made by banks, building societies and other approved deposit-taking institutions (ADIs) in this week’s YieldReport survey. 27 of the 28 changes took the form of rate reductions.
None of the major banks changed its term-deposit rates.
Among the smaller ADIs, the most notable set of changes came from the Bank of Sydney. Its 3-month and 4-month rates were cut by 85bps and 90bps respectively while its 6-month rate was raised by 60bps.
Macquarie Bank’s changes were much broader but also smaller in magnitude and mostly consisted of reductions of either 10bps or 25bps.
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 a number of ADIs on a number of different terms.
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 | 3.90 | 4.00 | 4.60 | 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 | 4.90 | 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 | 5.10 | 5.10 | 4.80 | 4.65 | 3.95 | ||||
| AMP Bank | 0.10 | 0.20 | 4.75 | 4.75 | 5.15 | 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 | 5.05 | 4.95 | 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 | 4.85 | 5.00 | 4.80 | 5.00 | 4.50 | 4.40 | ||||||
| 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 | 4.25 | 5.00 | 4.40 | 4.00 | 4.00 | 4.00 |
| Bank of Sydney | 1.25 | 1.50 | 3.60 | 4.00 | 4.00 | 4.60 | 4.50 | 4.50 | ||||
| BankVic | 3.60 | 4.00 | 3.70 | 5.00 | 3.70 | 4.90 | 4.00 | 4.00 | 4.00 | 4.00 | ||
| Beyond Bank | 4.50 | 4.70 | 5.00 | 4.70 | 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 | 4.75 | 1.25 | 5.00 | 4.80 | 4.80 | 4.20 | 3.30 | 3.30 | |
| BOQ Specialist | 4.60 | 4.75 | 5.00 | 4.80 | 4.80 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.65 | 2.95 | 4.95 | 4.80 | 4.70 | 4.75 | 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 | 3.75 | 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 | 5.00 | 4.80 | 4.95 | 4.20 | 4.00 | 4.00 | 4.00 |
| Horizon Credit Union | 1.25 | 1.50 | 3.90 | 3.70 | 4.30 | 4.00 | 4.80 | 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 | 4.90 | 5.10 | 4.65 | 5.05 | 4.75 | ||||||
| in1bank | 4.00 | 4.10 | 4.35 | 4.43 | 4.48 | 4.61 | 4.56 | 4.50 | 4.40 | |||
| Judo Bank | 5.00 | 5.10 | 5.10 | 5.10 | 4.80 | 4.80 | 4.80 | 4.80 | ||||
| Macquarie Bank | 0.05 | 0.85 | 4.85 | 4.80 | 4.75 | 4.70 | 4.79 | 4.10 | 4.00 | 4.00 | 4.00 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.75 | 1.25 | 5.00 | 4.80 | 4.80 | 2.00 | 2.00 | 2.00 | 2.00 |
| MyState | 0.50 | 0.50 | 2.50 | 4.20 | 4.50 | 4.60 | 4.85 | 5.00 | 3.95 | |||
| Newcastle Permanent | 1.00 | 1.00 | 3.50 | 3.50 | 3.50 | 5.05 | 4.00 | 4.80 | 4.00 | 4.00 | 4.00 | 4.00 |
| People's Choice Credit Union | 1.50 | 3.95 | 3.60 | 3.60 | 5.00 | 4.80 | 4.95 | 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 | 5.00 | 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 | 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 | 4.45 | 3.05 | 3.45 | 4.80 | 5.05 | 4.90 | 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.