The TD market is as hot as its been in a long time as expectations increase that there will be no more cash rate cuts (or that there even might be a hike).

The highest term deposit rate in the Savings.com.au database was smashed more than once during the week, and the trend suggests it won't be long before that happens again.

Suncorp and ANZ were the biggest names among this week's hikers, but it was the moves from Heartland Bank, Rabobank, and the merged entity of G&C Mutual and Unity Bank that will truly excite term deposit enthusiasts who have had little to celebrate through 2025.

Read more: Will TD rates keep going up?

Rabobank goes big on long term rates

Rabobank hiked its term deposit range on Wednesday by up to 50 bps, with its five year return now well ahead of any other rate on market per Savings.com.au's research.

The top five year rate at Rabo is now 4.70% p.a., albeit for balances of $500,000 and above (balances between $100,000 and $500,000 earn 4.60% p.a. while customers can still earn 4.50% p.a. for anything above $1,000).

Its three and four year rates are also now the strongest in the Savings.com.au database.

Read more: Latest Rabobank term deposit rates

G&C Mutual, Unity Bank hit 4.5 for one year rates

The merged entity of G&C Mutual Bank and Unity Bank hiked TD rates at both brands for nine month and one year terms.

The top nine month rate becomes 4.45% p.a. after a 20 bps increase, while the one year rate was pushed to 4.50% p.a.

That was briefly the outright top one year return in the database, until the next day when Heartland Bank hiked 0.05% to close the gap.

Read more: G&C Mutual, Unity Bank go to 4.5%

Heartland Bank hikes 5 bps

Term lengthDeposit sizePayment frequencyInterest rate (Change)
Six month$10,000+End of term4.45% p.a. (+0.05)
Nine month$10,000+End of term4.47% p.a. (+0.05)
One year$10,000+End of term4.50% p.a. (+0.05)

Heartland Bank likes to be close to the gun time for TD rates and these latest hikes mean once again it holds the top spot for six and nine month rates.

At 4.50% p.a. for one year, it's level with G&C Mutual and Unity Bank as the top return in the Savings.com.au database.

ANZ hikes by up to 20 bps

Term lengthDeposit sizePayment frequencyInterest rate (Change)
Three months$5,000-$2,000,000End of term2.90% p.a. (+0.20)
Six months$5,000-$2,000,000End of term3.00% p.a. (+0.05)
Nine months$5,000-$2,000,000End of term3.30% p.a. (+0.10)
One year$5,000-$2,000,000End of term3.75% p.a. (+0.10)

ANZ was the biggest name to hike TD rates in the past week, but returns are still all below 4% p.a. even after rates were increased by up to 20 bps.

The exception is its eight month rate, which is still 4.25% p.a. - the highest among the big four.

Suncorp hikes by up to 10 bps

Term lengthDeposit sizePayment frequencyInterest rate (Change)
Six months$5,000+End of term4.30% p.a. (+0.05)
One year$5,000+End of term4.35% p.a. (+0.10)
18 months$5,000+End of term4.35% p.a. (+0.10)

Suncorp hiked its term deposit range this week by up to 10 bps, pushing the boat out as far as rates at the biggest banks in Australia for customer deposits are concerned.

At 4.35% p.a. for one year or 18 month terms, Suncorp now offers the outright highest TD rate among the top-10 banks, beating out the likes of ING and Macquarie.

ING varies rates by up to 30 bps

Term lengthDeposit sizePayment frequencyInterest rate (Change)
Six months$10,000+End of term4.30% p.a. (-0.05)
Nine months$10,000+End of term4.30% p.a. (+0.30)
One year$10,000+End of term4.30% p.a. (+0.10)

ING now offers 4.30% p.a. for six month, nine month, and one year terms.

That was very briefly the top return among the top-10 banks, before the aforementioned hikes from Suncorp.

Still though, at 4.30% p.a. for six months ING is still level with Suncorp, with a significantly higher nine month return.

Great Southern Bank varies rates 70 bps

Term lengthDeposit sizePayment frequencyInterest rate (Change)
Four months$5,000+End of term3.90% p.a. (-0.10)
Seven months$5,000+End of term4.25% p.a. (+0.15)
Nine months$5,000+End of term4.15% p.a. (+0.10)
One year$5,000+End of term4.15% p.a. (+0.10)
Two years$5,000+Annually4.20% p.a. (+0.70)
One year (Platinum Plus for over 55s)$5,000+End of term4.25% p.a. (+0.10)
Two years (Platinum Plus for over 55s)$5,000+Annually4.30% p.a. (+0.70)

Great Southern Bank also varied its TD range this week, with its new top retail rate now 4.25% p.a. for seven month terms.

Its Platinum Plus products, available exclusively to customers aged 55 or over, also got a big rate boost, the top return now 4.30% p.a. for two years.

Other movers

  • Judo Bank hiked three month, six month, and nine month rates. Its top rate is still its one year product, with a max return of 4.45% p.a.
  • RACQ Bank hiked six month rates 30 bps to 4.25% p.a.
  • Newcastle Permanent put one year rates up 25 bps to a top return of 4.25% p.a.
  • Gateway Bank hiked rates by up to 15 bps, including new top returns of 4.40% p.a. for six month and one year terms

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Want to earn a fixed interest rate on your cash? The table below features term deposits with some of the highest interest rates on the market for a six-month term.

Update resultsUpdate
Filters
BankTerm DepositInterest Rate Interest Frequency Term Automatic Rollover Maturity Alert Early Withdrawal Available Minimum Deposit Maximum Deposit Notice Period to Withdraw Online Application Joint Application TagsFeaturesLinkComparePromoted ProductDisclosure
5.35% p.a.
At Maturity
6 months
$5,000
$19,999
–
5.20% p.a.
At Maturity
6 months
$10,000
$5,000,000
–
5.15% p.a.
At Maturity
6 months
$1,000
$1,000,000
–
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning