Australian Term Deposit Bank Accounts compared for September

Provider	Interest Rate	Fees	Minimum Balance	Info
St.George Term Desposit	Up to 6.75%	Yes	$5,000	Interest is paid at maturity for terms up to 12 months. For terms greater than 12 months interest is paid annually.
Suncorp Term Deposit	Up to 6.75%	None	$1,000	Special negotiated rates may be available for investments from $100,000 and over.
UBank Term Deposit Account	Up to 6.41%	No fees	$0	UBank Term Deposits help you make the most of your money easily. UBank Term Deposits offer highly competitive rates with no fees and the choice of a range of terms including 1, 3, 6, 9 or 12 months.
Members Equity Term Deposit Account	Up to 6.35%	No Fees	$1,000	Choose from a 3, 6, 9, 12 or 24 month term. You’ll pay no bank fees, so every dollar in interest you earn goes directly to helping you achieve your savings goals.

Related Term Deposit Account News

• Australian Banks Continue To Battle For Deposits By Offering High Introductory Rates
  

  Australia’s largest banks are using high introductory online savings rates to attract retail deposits and expand their deposit bases. Despite the high introductory rates, the lenders later aggressively cut back their deposit rates in order to preserve their profit margins.

  The investment bank Macquarie conducted an analysis of the online savings market which found that the big four Australian lenders, as well as some international rivals were offering introductory rates that were as much as 200 basis points higher than the 4.5 per cent official cash rate.

• Westpac Delivers Strong Results
  

  Gail Kelly, chief executive of Australian banking major Westpac is the latest banking chief to warn that the sector faces significant revenue head winds, that will slow their growth in earnings.

  Westpac, which reported earnings on Monday, posted a $1.4 billion underlying net profit for the quarter ending June, representing a leap of 27 per cent.The lender, like its peers, benefited from a sharp decline in provisions for bad and doubtful debt, but despite its success, the Sydney based bank followed the larger trend that has emerged amongst its peers, with revenues, and net interest margins under siege.

• Westpac To Up The Ante In War For Australian Term Deposits
  

  After a brief respite in the war for depositors, Westpac chief executive Gail Kelly is upping the ante amongst the big four lenders, by saying that Westpac intends to increase its reliance on deposit based funding for the year.