Rewinding a year ago, that figure was just 0.30% p.a. With savers now searching the deposit market constantly to ensure every dollar can go further, RBA retail deposit data for February detailed the average one-year term deposit rate continues to climb, now sitting at a rate of 3.15% p.a. Increases to term deposit rates this week come as ABS figures to December 2022 detailed the household savings ratio - measuring the level of household spending against income growth - fell to its lowest level since September 2017. Teachers Mutual Bank and UniBank varies deposits by up to 0.65% p.a.Ĭredit Union SA varies deposits by up to 0.90% p.a. Macquarie Bank increases deposits by 0.05% p.a.īank of Queensland increases deposits by 0.20% p.a.īankfirst increases deposits by up to 0.50% p.a. CommBank increases deposits by up to 1.00% p.a.
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