This week we have made several changes to new business rates for our Fixed Rate Home Loans and our No Frills product.

As a regulated financial institution we must meet varying controls imposed by our regulator APRA, as well as balancing both loan and deposit portfolios to ensure the strength and stability of the bank.

Interest rate changes are always a difficult decision. Our rate changes consider many factors, the Reserve Bank of Australia movements being one however it’s not the only factor.

On the deposit side we have reduced the interest rates for the Bonus Saver account and the QSaver account by 0.05%p.a. The base rate for the Bonus Saver account remains unchanged. The new rates are as follows:

Bonus Saver

Balance Base Rate p.a. Bonus rate p.a. Maximum Rate p.a.
All balances 0.05% 0.60%* 0.65%

*Bonus rate applied if no withdrawals are made during the month



On call Savings Rate p.a.
$500,000 & over 0.55%
Below $500,000 0.45%


We have also increased Term Deposit rates at the same time to rebalance options for depositors.

We regularly review the current market and the competitiveness of our products in relation to other institutions and our current deposit rates are some of the better rates around.


Term Deposits

Term $2,000 to $4,999 $5,000 to $9,999 $10,000 and over
3 Months 0.50% p.a. 0.50% p.a. 0.50% p.a.
6 Months N/A 0.65% p.a. 0.65% p.a.
9 Months N/A 0.75% p.a. 0.75% p.a.
12 Months N/A 0.85% p.a. 0.85% p.a.
24 Months N/A 1.40% p.a. 1.40% p.a.
36 Months N/A 1.50% p.a. 1.50% p.a.


Term Deposits Special Terms

Term Minimum $10,000
5 Months 0.60% p.a.
7 Months 0.65% p.a.
11 Months 0.80% p.a.



Government Guarantee

Remember, your money is protected with us, as it’s guaranteed by the government guarantee up to $250,000 per customer. Read more on our Government Guarantee.


Important information

Interest can be payable monthly (standard terms only), or at maturity (terms <12 months, including special terms) or annually and at maturity (terms>12 months). Standard terms are available for 3, 6, 9, 12, 24 and 36 months. Special terms available for 5, 7 and 11 months.

You may withdraw the balance of your term deposit early by giving us 31 days notice. If you do, we will reduce the interest on the term deposit from the date it was opened until the date of withdrawal by 2% per annum. If you have already been paid interest, the reduction will be deducted from the balance of the term deposit. In the event of emergency or death of a term deposit owner or joint owner, if requested, we may agree to early withdrawal of the term deposit without applying the interest reduction, on completion of the normal legal requirements.

As the information on this page is of a general nature and has been prepared without considering your objectives, financial situation or needs, before acting on the information, consider its appropriateness to your circumstances.

Before opening an account with us, you should read our Term Deposit Interest Rate Brochure, Terms and Conditions for Savings Accounts and Payment ServicesSupplementary Terms and Conditions for Term Deposits and Financial Services Guide.

Rates current as at 13 April 2022

Published Thursday, 14 April 2022​