Some banks start applying the RBA rate hike to some savings and term deposit accounts, as retail rate offers push through 4% and head toward 5%

The conventional wisdom is that Commbank is "winning the war" for household deposits. This is based on the strong half-year profit result, and their self-reported deposit growth and market-share gains.

And they have had gains, but they are hardly 'winning the war'. Basically they are holding their ground with minor realtive gains.

It is MacBank who started the war and is making the most impressive gains. Whether they can hold them against the like of Commbank remains to be seen, but the four big banks with the largest embedded deposit base have the most to lose, and higher offer rates hurt themselves as much as attract new business.

To be fair, there is a 'war'. And if a bank doesn't fight for its share, it will lose share.

And this is particularly true for challenger banks. Everyone is stepping up.

Today we have had our latest raft of rate changes, almost all increases.

ANZ has added +20 bps to their Online savings account (to 0.85%), to their Progress' bonus account (to 3.24%), to their Pensioner accounts, and +25 bps to their Plus Growth and Plus Flex accounts, taking both up to a potential 4.50%.

Commbank has added +25 bps to all their savings accounts, with their Goal Saver now at 4.50%.

NAB has done the same, taking their iSaver to 4.70% as a 4-month intro rate, and their Reward account to 4.40%.

Westpac's savings accounts have been raised by +25 bps.

Suncorp has done the same.

All these +25 bps rises are essentially the pass-through of of the RBA's policy rate increase (also +25 bps). What is key here is that banks who don't pass it all through are slipping behind.

For term deposits rates are on the move higher too, but for less than +25 bps. Macbank for example only added +10 bps for a six month of one year fixed deposit, although they added +20 bps for a three month one.

NAB also made term deposit rate changes, mostly less than +25 bps. But they did raise their 18 month rate to 4.68%, a huge +128 bps rise for that term, as part of their Chinese New Year promotion. 4.68% is an impressive rate, but they aren't the only one and not the first to do that.

You can keep up with these rising rates in each of our three tables, for savings accounts, TDs 1-11 months, and TDs 1-5 years.