Over the week ending 15 September, the term deposit space is still dominated by rate cuts. Here are the most significant movements:
Bendigo Bank
Bendigo Bank is among the latest to roll out cuts to its TD rates. These are the latest movements in Bendigo’s TD rates:
Bendigo Bank rate changes – 15 September
|
Term |
Change |
Rate |
|
2 months |
-40bps |
1.50% p.a. |
|
4 months |
-20bps |
4.10% p.a. |
|
12 months |
-15bps |
4.75% p.a. |
These TD products require investors a minimum deposit of $5,000. Payments are made on an end-of-term basis.
Bank First
Bank First slashed its rates for 1 Year Regular Income and regular TDs by up to 25bps. Here are Bank First’s latest TD rate changes
Bank First TD rate changes – 15 September
|
Term |
Change |
Rate |
|
1 Year Regular Income |
-10bps |
4.65% p.a. |
|
Regular TD – 1 year |
-10bps |
4.75% p.a. |
|
Regular TD – 2, 3, 4, 5 years |
-25bps |
4.00% p.a. |
|
Regular TD – 120 days |
-5bps |
4.55% p.a. |
|
Regular TD – 180 and 270 days |
-10bps |
4.75% p.a. |
The TDs above have a minimum deposit requirement of $500. Payments are on end-of-term basis, except the TDs with terms above 1 year that have annual payments.
Credit Union SA
Credit Union SA made a significant cut in its six-month Term Investment rate. Below are the provider’s latest TD rate changes:
Credit Union SA Term Investment rate changes – 15 September
|
Term |
Change |
Rate |
|
6 months |
-115bps |
4.00% p.a. |
|
7 months |
-90bps |
4.90% p.a. |
|
1 year |
-25bps |
4.90% p.a. |
These TD products require investors a minimum deposit of $5,000. Payments are made on end-of-term basis.
Australian Military Bank
Australian Military Bank made rate cuts of up to 50bps across its Income Plus and Investment Plus TD products. Here are the most significant changes Australian Military Bank made this week:
Australia Military Bank TD rate changes – 15 September
|
Term |
Change |
Rate |
|
Income Plus – 9 and 12 months |
-25bps |
4.85% p.a. |
|
Income Plus – 3 months |
-25bps |
4.55% p.a. |
|
Income Plus – 6 months |
-25bps |
4.75% p.a. |
|
Investment Plus – 12 months |
-25bps |
4.95% p.a. |
|
Investment Plus – 24 and 25 months |
-50bps |
4.85% p.a. |
The Income Plus terms above have monthly payments while Investment Plus terms have annual payments. Both TD products require a minimum deposit of $1,000.
Rabobank Australia
Rabobank Australia rolled out cuts of up to 15bps this week. Below are the most notable cuts:
Rabobank Australia TD rate changes – 15 September
|
Term |
Change |
Rate |
|
6 and 9 months (end-of-term payments) |
-15bps |
4.75% p.a. |
|
2 years (monthly payments) |
-15bps |
4.74% p.a. |
|
3 years (monthly payments) |
-15bps |
4.84% p.a. |
All TD products above have a minimum deposit requirement of $1,000.
Arab Bank Australia
Arab Bank Australia decreased its TD rates by up to 50bps over the week. Here are some of the changes:
Arab Bank Australia TD rate changes – 15 September
|
Term |
Change |
Rate |
|
1 month |
-50bps |
1.50% p.a. |
|
5 months |
-35bps |
3.75% p.a. |
|
9 months |
-10bps |
4.40% p.a. |
|
1 Year |
-10bps |
4.50% p.a. |
The terms above have a minimum deposit of $2,000 and end-of-term payments.
Australian Unity
Australian Unity slashed its rates for SMSF and regular TDs. Below are the most notable changes:
Australian Unity TD rate changes – 15 September
|
Term |
Change |
Rate |
|
SMSF – 3 months |
-35bps |
4.25% p.a. |
|
SMSF – 6 months |
-20bps |
4.45% p.a. |
|
SMSF – 12 months |
-10bps |
4.85% p.a. |
|
Regular – 3 months |
-35bps |
4.30% p.a. |
|
Regular – 6 months |
-20bps |
4.50% p.a. |
|
Regular – 12 months |
-10bps |
4.90% p.a. |
These TD products have an end-of-term payments and a minimum deposit of $5,000
Qudos Bank
In the sea of rate cuts, Qudos Bank is among the two providers that made some increases. Over the week, Qudos Bank increased its one-year TD rate by 55bps.
Qudos Bank 1-Year TD rate changes – 15 September
|
Term |
Change |
Rate |
|
1 Year |
+55bps |
5.20% p.a. |
The rate is available to TDs with a minimum deposit of $5,000 and $10,000, with annual and monthly payments.
Bank of Sydney
Bank of Sydney joined Qudos Bank in raising its TD rates. Over the week, the provider made increases of up to 125bps. Here are the latest changes to Bank of Sydney’s TD rates:
Bank of Sydney TD rate changes – 15 September
|
Term |
Change |
Rate |
|
3 months |
+125bps |
4.75% p.a. |
|
6 months |
+100bps |
4.50% p.a. |
|
9 months |
+115bps |
4.90% p.a. |
|
12 months |
+70bps |
5.00% p.a. |
These TD rate products have an end-of-term payments and a minimum deposit of $1,000.
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