Summary: Moderate number of rate changes; 14 reductions, 7 increases; notable changes from Bank of Sydney, MyState; highest rate in survey declines to 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. Of the 21 changes which occurred, 14 took the form of rate reductions.
None of the major banks changed their term-deposit rates.
Among the smaller ADIs, the most notable changes came from the Bank of Sydney. Its 4-month rate was slashed by 110bps while its 6-month rate was increased by 60bps.
Another notable change was made by MyState Bank which upped its 1-year rate by 65bps.
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 declined to 5.10% (AMP 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 | 3.15 | 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 | 4.85 | 4.85 | 4.70 | 4.75 | 4.55 | ||||
| AMP Bank | 0.10 | 0.20 | 4.90 | 4.80 | 4.60 | 5.00 | 5.10 | 5.00 | 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 | 3.25 | 3.35 | 3.45 | 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 | 3.90 | 3.90 | 4.50 | 3.90 | 4.00 | ||||
| BankVic | 3.60 | 4.00 | 3.70 | 4.80 | 3.70 | 4.60 | 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 | 4.60 | 1.25 | 4.85 | 4.80 | 4.60 | 4.60 | 3.30 | 3.30 | |
| BOQ Specialist | 4.60 | 4.65 | 4.75 | 4.70 | 4.65 | 4.30 | 3.50 | 3.50 | 3.50 | |||
| Great Southern Bank | 1.30 | 1.60 | 4.75 | 2.95 | 4.50 | 4.35 | 4.50 | 4.45 | 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 | 3.90 | 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 | 4.95 | 5.05 | 5.05 | 5.00 | 4.65 | 4.55 | 4.40 | 4.40 | ||||
| Macquarie Bank | 2.10 | 2.10 | 4.93 | 4.82 | 4.82 | 4.65 | 4.60 | 3.90 | 3.80 | 3.80 | 3.80 | |
| ME Bank | 0.75 | 0.80 | 2.25 | 4.65 | 1.25 | 4.90 | 4.85 | 4.65 | 2.00 | 2.00 | 2.00 | 2.00 |
| MyState | 0.50 | 0.50 | 4.00 | 4.20 | 4.80 | 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 | 4.85 | 4.90 | 4.00 | 4.90 | 4.90 | 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 | 4.80 | 4.75 | 4.20 | 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 | 3.25 | 3.35 | 3.45 | 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 | 4.90 | 4.55 | 4.45 | 3.95 | 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.