Earlier in the week, CBA and NAB moved rates north on a few products, but rates at the majors are still uninspiring compared to the market leaders.
Heartland Bank currently holds that mantle, at 5.35% p.a. for a 12-month term.
Rates below 5.00% p.a. across most terms nowadays are hardly worth writing home about.
Subsequent to that news, here were a few other banks that pushed some TD paper.
Macquarie Bank tinkers around the edges
Australia's fifth-largest bank moved rates on six- and 12-month terms.
- 6 Months: 5 basis point cut to 4.85% p.a.
- 12 Months: 5 basis point rise to 5.00% p.a.
This adds to the movements made a couple weeks ago.
Interest on these is payable at maturity, and the minimum deposit is $5,000.
Mutual bank TD movements
- Hume Bank: Increased rates by up to 65 basis points, 12-month product is now 5.00% p.a.
- Move Bank: Varied rates by up to 30 basis points, 9- 10- 11- and 12-month rates still at or above 5.00% p.a.
- Great Southern Bank: Varied rates by up to 215 basis points, 11-month rate now up to 5.15% p.a.
- Heritage & People's Choice: Increased rates by up to 20 basis points, 6-month rate now 5.00% p.a.
- Beyond Bank: Increased 12-month rates by up to 15 basis points, still below 5.00% p.a.
- Summerland Bank: Increased rates by up to 100 basis points on 5-month terms, now up to 5.00% p.a.
- Gateway Bank: Cut its 6 month rate by 5 basis points to 5.20% p.a.
- Bank of Us: Revealed a new 5.10% p.a. rate for 11 month terms.
Other bank movements
- MyState Bank: Varied rates by up to 295 basis points, 7- 8- and 9-month rates now up to 5.10% p.a.
- Bank of Sydney: Decreased 7-month rate by up to 70 basis points, now off the pace at 4.50% p.a. but raised the 6-month rate by 35 basis points, now 5.10% p.a.
Photo by jcomp on Freepik
