ING – Now publishing actual TD rates (previously data was garbled): 3 Months 4.75%; 6 Months 5.05%; 1 Year 5.20%; 2 Years 4.55%
AMP – Now publishing actual TD rates (previously garbled): 6 Months 5.15%; 12 Months 5.40%
Qudos Bank – Now publishing actual TD rates (previously garbled): 3 Months 4.80%; 6 Months 5.05%; 9 Months 5.10%; 12 Months 5.45%
Rate Decreases
Community First Bank – 12 Months (interest paid on maturity): 5.65% → 4.90% (–0.75pp); 12 Months (interest paid monthly): 5.00% → 4.80% (–0.20pp); 12 Months Special: 5.20% → 5.40% for new special structure (Special rate reduced in headline ceiling); 2 Years (both payment types): broadly lower
Judo Bank – No decreases observed across any term
Macro Signals
Broad-based rate increases consistent with RBA hike to 4.35%: The overwhelming majority of banks lifted TD rates across short-to-medium terms, directly reflecting the RBA's cash rate increase. This is the clearest pass-through signal observed across the dataset.
Big-four banks moving in unison: ANZ, CommBank, NAB, and Westpac all raised 12-month rates by 0.20–0.25pp, suggesting coordinated repricing in response to the RBA move rather than competitive pressures alone.
Challenger and mutual banks outpacing majors on medium terms: Heartland, Judo, ME Bank, UniBank, and Teachers Mutual posted larger increases (up to +0.85pp for ME Bank at 12 months), indicating smaller institutions are aggressively competing for retail deposit funding as wholesale funding costs rise.
Steepening of the short-to-medium term curve: Rate increases are most pronounced in the 6–12 month band across nearly all institutions, suggesting the market is pricing in the possibility of rates remaining elevated for an extended period but not necessarily rising further long-term.
Long-term rates (2–5 years) largely unchanged at majors: CommBank, NAB, and Macquarie held 2–5 year rates flat, signalling the market does not expect the current rate level to persist over the long run — consistent with a "higher for longer but ultimately peaking" outlook.
Community First Bank's notable 12-month rate cut (–0.75pp at maturity) is an outlier and may reflect a product restructure or data anomaly rather than a deliberate funding retreat; warrants monitoring.