Here are the major movers in the TD space over the week:
ME Bank
ME Bank cut its regular and business TD rates by up to 20bps. Here are the most relevant changes:
ME Bank TD rate changes – 18 August
|
Term |
Change |
Rate |
|
9 months – Regular TD (end of term payments) |
-10bps |
5.00% p.a. |
|
9 months – Regular TD (monthly payments) |
-10bps |
4.95% p.a. |
|
12 months – Regular TD (end of term payments) |
-15bps |
5.05% p.a. |
|
6 months – Business TD |
-20bps |
2.9% p.a. |
|
9 months – Business TD |
-20bps |
4.9% p.a. |
|
12 months – Business TD |
-20bps |
5.00% p.a. |
All TD products mentioned above have a minimum deposit requirement of $5,000. The highlighted business TDs have end of term payments.
AMP Bank
AMP Bank rolled out another set of cuts in its TD rates. This builds on the 20bps cut it made last week.
AMP Bank TD rate changes – 18 August
|
Term |
Change |
Rate |
|
3 and 4 months |
+10bps |
4.70% p.a. |
|
5, 6, and 7 months |
+15bps |
4.95% p.a. |
|
8, 9, and 10 months |
+15bps |
4.90% p.a. |
|
11 and 12 months |
+15bps |
5.00% p.a. |
These AMP Bank TD rates have a minimum deposit of $5,000 and end of term payments.
Bank First Bank
Bank First reduced its regular and 1-Year Regular Income TD rates by 10bps.
Bank First TD rate changes – 18 August
|
Term |
Change |
Rate |
|
90 and 120 days |
-10bps |
4.65% p.a. |
|
180 and 270 days |
-10bps |
4.85% p.a. |
|
12 months |
-10bps |
4.90% p.a. |
|
1 Year Regular Income |
-10bps |
4.80% p.a. |
These AMP Bank TD rates have a minimum deposit of $500 and end of term payments, except the 1 Year Regular Income TD that has a deposit requirement of at least $5,000.
Bank of Sydney Bank
Bank of Sydney builds on the cuts it made last week, introducing another round of reduction for its regular and business TD rates.
Bank of Sydney TD rate changes – 18 August
|
Term |
Change |
Rate |
|
3 months – Business |
-85bps |
4.00% p.a. |
|
6 months – Business |
-100bps |
4.00% p.a. |
|
3 months – Regular |
-85bps |
4.00% p.a. |
|
6 months – Regular |
-100bps |
4.00% p.a. |
The TD products above require a minimum deposit of $1,000 and end of term payments.
Australian Unity
Australian Unity joined the trend in cutting TD rates, applying up to 25bps reduction in its regular and SMSF TDs.
Australian Unity TD rate changes – 18 August
|
Term |
Change |
Rate |
|
12 months – SMSF |
-25bps |
4.95% p.a. |
|
12 months – Regular (annual payments) |
-25bps |
5.00% p.a. |
|
12 months – Regular (semi-annual, quarterly, and monthly payments) |
-25bps |
4.99% p.a. |
Australian Unity’s TD products above have a minimum deposit of $5,000.
Great Southern Bank
Great Southern Bank also rolled out cuts in TD rates this week. Here are the latest changes:
Great Southern Bank TD rate changes – 18 August
|
Term |
Change |
Rate |
|
6 months – end of term payments |
-15bps |
4.95%. p.a. |
|
9 months – end of term payments |
-15bps |
5.00% p.a. |
|
12 months – end of term payments |
-20bps |
5.05% p.a. |
|
6 months – monthly payments |
-15bps |
4.85% p.a. |
|
9 months – monthly payments |
-15bps |
4.90% p.a. |
|
12 months – monthly payments |
-20bps |
4.95% p.a. |
Great Southern Bank’s TDs above have a minimum deposit of $5,000.
Beyond Bank
Early in the week, Beyond Bank rolled out a 10bps increase in its TD rates.
Beyond Bank TD rate changes – 18 August
|
Term |
Change |
Rate |
|
3 months |
+10bps |
4.20% p.a. |
|
6 months |
+10bps |
4.55% p.a. |
|
9 months |
+10bps |
4.65% p.a. |
|
12 months |
+10bps |
4.85% p.a. |
The TD products above have end of term payments and a minimum deposit of $2,000.
BankVic
BankVic has one of the biggest increases in TD rates this week, boosting its 12 Months Regular Income TD rate.
BankVic TD rate changes – 18 August
|
Term |
Change |
Rate |
|
12 Months Regular Income |
+25bps |
4.95% p.a. |
|
9 months - Term Deposit (I20) |
+25bps |
4.50% p.a. |
|
12 months - Term Deposit (I20) |
+25bps |
5.00% p.a. |
The 12 Months Regular Income TD rate applies across payment frequencies and minimum deposits of $5,000, $25,000, and $50,000.
RACQ Bank
RACQ Bank made increases in its regular TD rates. With the changes, its 12-month TD rate is now at 5.00% p.a.
RACQ Bank TD rate changes – 18 August
|
Term |
Change |
Rate |
|
3 months |
+45bps |
4.70% p.a. |
|
6 months |
+20bps |
4.70% p.a. |
|
9 months |
+50bps |
5.00% p.a. |
|
12 months |
+25bps |
5.00% p.a. |
RACQ Bank’s TDs have a minimum deposit of $1,000 and end of term payments.
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