Lenders increase term deposit rates by up to 20 basis points


Nick Bendel

Nick Bendel

( 2 min read )

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UBank and Gateway Bank have increased some of their term deposit interest rates.

UBank, which is a subsidiary of NAB, has made changes to some of its personal term deposit rates and SMSF term deposit rates (see tables below).

Meanwhile, Gateway Bank has increased its 12-month term deposit interest rate – although this applies only to those who invest at least $100,000.

UBank personal term deposits (standard rates)

Term Old New Increase
1 month 1.90% 2.10% 20 basis points
3 months 2.60% 2.70% 10 basis points
9 months 2.66% 2.75% 9 basis points
12 months* 2.64% 2.75% 11 basis points

* Interest paid at maturity

UBank SMSF term deposits (standard rates)

Term Old New Increase
1 month 1.90% 2.00% 10 basis points
3 months 2.55% 2.65% 10 basis points
4 months 2.55% 2.65% 10 basis points
6 months 2.60% 2.70% 10 basis points
9 months 2.60% 2.70% 10 basis points
12 months* 2.64% 2.70% 6 basis points

* Interest paid at maturity

Gateway Bank term deposits ($100,000 minimum required)

Term Old New Increase
12 months 2.85% 3.00% 15 basis points
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