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Citi & Mystate have best 90day term deposits

01/12/2011

Infochoice figures show that more than 30 institutions cut their term deposit rates over the past month. Reductions in 90-day deposit rates were in the range of 10 to 25 basis points. Rates for 12-month terms fell by as much as 50 basis points.

The top rate for a 90-day term deposit is 5.8 per cent, which is being offered by Citibank, MyState and Qantas Staff Credit Union. UBank is offering 5.76 per cent and Arab Bank, Bankwest and Rural Bank are all offering 5.75 per cent. Among the big banks, ANZ, NAB and Westpac are offering 5.5 per cent for 90 days, and Commonwealth is offering 5.4 per cent.

Source: Banking Day



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