Home News Which banks increased term deposit rates this week?

Which banks increased term deposit rates this week?

Judo Bank and AMP have shaken term deposit rates this week, lifting one-year rates closer to 4%.

Published on 07 Oct 2022

Which banks increased term deposit rates this week?

With the 4% p.a. barrier now broken by savings offerings from BOQ and ING, depositors looking for an alternate option are crossing their fingers as one-year term deposits continue to edge closer to the mark.

In the past week, both Judo Bank and AMP lifted one-year deposit rates by up to 20 basis points to become market leaders in the one-year deposit rate space based on Savings.com.au market research.

This comes as the RBA’s latest deposit figures for September detailed the average rate of one-year deposits increased to 1.50% p.a. from 1.30% p.a. in August.

Judo Bank increases deposit rates by up to 20 basis points

Judo Bank’s increase to deposit rates this week by up to 20 basis points means the neobank retains its crown in the 12-month term deposit rate space.

It now offers a rate of 3.90% p.a. for 12-month deposits paid either annually or at end of term.

They require a minimum deposit of $1,000.

Judo Bank's increase this week sees its 12-month rate sit 240 basis points (2.40%) higher than the RBA recorded average.

AMP increases deposit rates by up to 20 basis points

Coming in second place, AMP increased term deposit rates this week by up to 20 basis points for depositors who may have varying balances.

For those with a minimum deposit of $5,000, AMP’s 12-month deposit rate increased by 10 basis points to 3.75% p.a. paid at the end of term.

Depositors with more savings to put away ranging from $25,000 to $1,000,000, are now offered a 12-month deposit rate of 3.80% p.a. paid at the end of term.

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Looking for an alternate to savings accounts to put away some money for the future? The table below features term deposits with some of the highest interest rates on the market for a 12-month term.

Deposit amount

Compare

Provider	Interest rate	Interest frequency	Term	Automatic Rollover	Maturity Alert	Early Withdrawal Available	Minimum Deposit	Annual Fees	Joint Application	Online Application	as ofNovember 21, 2024

	4.55^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
FEATURED	Online Savings Term Deposit (online) - 12 months
Disclosure
FEATURED Online Savings Term Deposit (online) - 12 months More details Disclosure
	4.65^%_p.a.	Monthly	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.85^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	250000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($250000-$500000) - 12 months
Term Deposit ($250000-$500000) - 12 months More details
	5.05^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	25000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.80^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Fixed Term Deposit - 12 months
Fixed Term Deposit - 12 months More details
	4.55^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.80^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	10000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposits ($10,000+) - 12 months
Term Deposits ($10,000+) - 12 months More details
	4.60^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	50000		$product[$field["value"]]	$product[$field["value"]]	More details
	Farm Management Deposit Account - Fixed Term ($50000-$99999) - 12 months
Farm Management Deposit Account - Fixed Term ($50000-$99999) - 12 months More details
	4.65^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposits - 12 months
Term Deposits - 12 months More details
	4.95^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	10000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit (online) - 12 months
Term Deposit (online) - 12 months More details
	4.90^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000	[Amount: , Frequency: ]	$product[$field["value"]]	$product[$field["value"]]	More details
	Farm Management Deposit - 12 months
Farm Management Deposit - 12 months More details
	5.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	SMSF Term Deposit - 12 months
SMSF Term Deposit - 12 months More details
	5.00^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Personal Term Deposits - 12 months
Personal Term Deposits - 12 months More details
	4.95^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposits - 12 months
Term Deposits - 12 months More details
	4.70^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Bankwest Term Deposit - 12 months
Bankwest Term Deposit - 12 months More details
	4.65^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	500		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.80^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	250000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($250k+) - 12 months
Term Deposit ($250k+) - 12 months More details
	4.85^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Macquarie Bank Term Deposit (<$1,000,000) - 12 months
Macquarie Bank Term Deposit (<$1,000,000) - 12 months More details
	4.55^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details
	4.55^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	50000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit ($50000-$5000000) - 12 months
Term Deposit ($50000-$5000000) - 12 months More details
	4.60^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	1000		$product[$field["value"]]	$product[$field["value"]]	More details
	Farm Management Deposit - 12 months
Farm Management Deposit - 12 months More details
	4.40^%_p.a.	Annually	12_months	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	5000		$product[$field["value"]]	$product[$field["value"]]	More details
	Term Deposit - 12 months
Term Deposit - 12 months More details

Online Savings Term Deposit (online) - 12 months

Minimum deposit$1,000

4.55%Interest rate p.a.

12Term

More details

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First published on October 2022

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Which banks increased term deposit rates this week?

Judo Bank increases deposit rates by up to 20 basis points

AMP increases deposit rates by up to 20 basis points

Online Savings Term Deposit (online) - 12 months

Online Savings Term Deposit (online) - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit ($250000-$500000) - 12 months

Term Deposit ($250000-$500000) - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Fixed Term Deposit - 12 months

Fixed Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposits ($10,000+) - 12 months

Term Deposits ($10,000+) - 12 months

Farm Management Deposit Account - Fixed Term ($50000-$99999) - 12 months

Farm Management Deposit Account - Fixed Term ($50000-$99999) - 12 months

Term Deposits - 12 months

Term Deposits - 12 months

Term Deposit (online) - 12 months

Term Deposit (online) - 12 months

Farm Management Deposit - 12 months

Farm Management Deposit - 12 months

SMSF Term Deposit - 12 months

SMSF Term Deposit - 12 months

Personal Term Deposits - 12 months

Personal Term Deposits - 12 months

Term Deposits - 12 months

Term Deposits - 12 months

Bankwest Term Deposit - 12 months

Bankwest Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit ($250k+) - 12 months

Term Deposit ($250k+) - 12 months

Macquarie Bank Term Deposit (<$1,000,000) - 12 months

Macquarie Bank Term Deposit (<$1,000,000) - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Term Deposit ($50000-$5000000) - 12 months

Term Deposit ($50000-$5000000) - 12 months

Farm Management Deposit - 12 months

Farm Management Deposit - 12 months

Term Deposit - 12 months

Term Deposit - 12 months

Staff Writers

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Monthly Repayment Figures

Related Brands

General Advice Disclosure