Macquarie lifted interest rates on its three, six, nine and twelve-month term deposits by between 10 and 15 basis points.

This increase comes off the back of a 70 basis point increase by Macquarie on January 17 across its annual term deposit offering, up to a period of five years.

The rates across these term deposits now sit at:

  • 3 months: 0.50% p.a.
  • 6 months: 0.55% p.a.
  • 9 months: 0.55% p.a.
  • 1 year: 0.70% p.a.

These term deposit offerings from Macquarie have a minimum deposit amount of $5,000 and a maximum deposit amount of $1,000,000.

Interest across these monthly term deposits is paid out at the end of term for each, with the yearly term deposit paid out annually.

Recently, Macquarie climbed the rungs of the banking ladder knocking off Westpac to become the third-largest bank in Australia.

This rise was fuelled by a growth in market capitalisation, with Macquarie sitting at near $80 billion, overtaking members of the ‘big-four’ in Westpac and ANZ.

Suncorp cuts term deposit rates by up to 10 basis points

Suncorp headed in the opposite direction on Monday, reducing term deposit rates across its term deposit portfolio.

Suncorp offers tailored rates based on the amount of the deposit and the term, with some of these changes across Suncorp’s term deposit portfolio outlined below.

For deposits between $5,000 and $99,999.99, Suncorp’s term deposits now sit at:

  • 3 months: 0.35% p.a.
  • 6 months: 0.40% p.a.
  • 9 months: 0.50% p.a.
  • 1 year: 0.60% p.a.

For deposits between $100,000 and $999,999 Suncorp’s term deposits now sit at:

  • 3 months: 0.40% p.a.
  • 6 months: 0.45% p.a.
  • 9 months: 0.55% p.a.
  • 1 year: 0.65% p.a.

In similar fashion to Macquarie, interest across these monthly term deposits is paid out at the end of term for each, with the yearly term deposit paid out annually.

Want to earn a fixed interest rate on your cash? The table below features term deposits with some of the highest interest rates on the market for a six-month term. 

Update resultsUpdate
Filters
BankTerm DepositInterest Rate Interest Frequency Term Automatic Rollover Maturity Alert Early Withdrawal Available Minimum Deposit Maximum Deposit Notice Period to Withdraw Online Application Joint Application TagsFeaturesLinkComparePromoted ProductDisclosure
5.09% p.a.
At Maturity
6 months
$25,000
$1,000,000
–
5.05% p.a.
At Maturity
6 months
$1,000
$1,000,000
–
5.05% p.a.
At Maturity
6 months
$1,000
$0
–
4.95% p.a.
At Maturity
6 months
$1,000
$1,000,000
–
4.90% p.a.
At Maturity
6 months
$5,000
$1,000,000
–
4.80% p.a.
At Maturity
6 months
$5,000
$19,999
–
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

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