In about two weeks' time the RBA is set to meet again to decide the fate of the cash rate target.

It's widely speculated that the Reserve Bank will hike the cash rate for the second month in a row.

CBA economists have tipped four more 25 basis point hikes to take place this year with another pencilled in for early next year.

Term deposit rates have been climbing for the past few months, but with more cash rate hikes potentially on the horizon, this trend may continue.

Also read: What's next for the RBA?

Bankwest hikes term deposits by up to 165 basis points

Bankwest increased its Gold Term Deposits and Online Term Deposits, now offering rates of up to 2.15% p.a.

Gold Term Deposits:

  • 24 months, paid end of term: 165 basis point increase to 2.15% p.a.
  • 24 months, paid semi-annually: 164 basis point increase to 2.14% p.a.

Online Term Deposits:

  • 2 years, paid annually: 165 basis point increase to 2.15% p.a.
  • 2 years, paid quarterly: 163 basis point increase to 2.13% p.a.

ING term deposits hit 2.50% p.a.

ING increased interest rates on three of its term deposits by up to 100 basis points.

  • 270 days, paid end of term: 60 basis point hike to 1.5% p.a.
  • 1 year, paid annually: 60 basis point hike to 2% p.a.
  • 2 years, paid annually: 100 basis point hike to 2.5% p.a.

Regional Australia Bank term deposits head towards 3% p.a.

Regional Australia Bank increased its term deposits by up to 165 basis points. The bank increased various 'Term Savings' products.

  • 18 months, paid end of term: 165 basis point increase to 2.00% p.a.
  • 18 months, paid annually: 110 basis point increase to 2.00% p.a.
  • 36 months, paid monthly: 80 basis point increase to 2.15% p.a.
  • 60 months, paid monthly: 100 basis point increase to 2.55% p.a.

Beyond Bank term deposits almost hit 2% p.a.

Beyond Bank increased six of its term deposits by 100 basis points.

  • 2 years, paid annually: 100 basis point hike to 1.95% p.a.
  • 2 years, paid annually: 100 basis point hike to 2.00% p.a.
  • 2 years, paid monthly: 100 basis point hike to 1.80% p.a.
  • 2 years, paid monthly: 100 basis point hike to 1.90% p.a.

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Provider

At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]5000$product[$field["value"]]$product[$field["value"]]More details
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Term Deposit - 6 months

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At Maturity, Monthly$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]2500031$product[$field["value"]]$product[$field["value"]]More details

Term Deposit - 6 months

    Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

    Term Deposit ($1000-$500001) - 6 months

      At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]10008$product[$field["value"]]$product[$field["value"]]More details

      Online Term Deposit - 6 months

        At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]2500031$product[$field["value"]]$product[$field["value"]]More details

        Term Deposit ($25k-$5m) - 6 months

          At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100000$product[$field["value"]]$product[$field["value"]]More details

          Term Investment ($100k-$200k) - 6 months

            At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]50031$product[$field["value"]]$product[$field["value"]]More details

            Term Deposit ($500 - $1mn) - 6 months

              Annually, Semi-Annually, At Maturity, Monthly$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]5000$product[$field["value"]]$product[$field["value"]]More details

              Term Deposit - 6 months

                At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500031$product[$field["value"]]$product[$field["value"]]More details

                Term Deposit ($5k-$25k) - 6 months

                  Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

                  Term Deposit ($1000+) - 6 months

                    At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]5000$product[$field["value"]]$product[$field["value"]]More details

                    Term Investment ($5k-$25k) - 6 months

                      At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500031$product[$field["value"]]$product[$field["value"]]More details

                      Term Deposit ($5k-$500k) - 6 months

                        Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]25000031$product[$field["value"]]$product[$field["value"]]More details

                        Term Deposit ($250k+) - 6 Months

                          Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500031$product[$field["value"]]$product[$field["value"]]More details

                          Term Deposit ($5000-$999999) - 6 months

                            Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

                            Term Deposit (> $1000) - 6 months

                              At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500031$product[$field["value"]]$product[$field["value"]]More details

                              TDs Premier Investment ($5k - $250k) - 6 months

                                At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

                                Term Deposit ($1000+) - 6 months

                                  At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500031$product[$field["value"]]$product[$field["value"]]More details

                                  Term Deposit - 6 months

                                    At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]10007$product[$field["value"]]$product[$field["value"]]More details

                                    Term Savings ($1000-$500000) - 6 months

                                      Annually, At Maturity, Monthly$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]1000031$product[$field["value"]]$product[$field["value"]]More details

                                      Term Deposit ($10000+) - 6 months

                                        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 July 15, 2024. View disclaimer.

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