Term deposit rates have raced past the 5 percent benchmark and even the largest bank is now offering north of that. Check our rate tables frequently to stay up with this fluid situation

If you are not getting at least 5.2% on your term deposits (1 year) you should consider shifting to where you can get at least that.

5.2% is now the standard minimum for a 1 year term deposit because that is what icon Commbank is offering.

NAB has stepped up to match it.

Westpac is at 5.10%. ANZ is at 5.25%.

Macquarie is now also at 5.25%.

The differences come in the maximum you can park in these high interest offers.

For Macquarie it is up to $1 mln and then a lower rate (5.10%) applies.

For ANZ it is up to $2.5 mln. For NAB, it is up to $2.5 mln. And for Westpac it is up to $2 mln.

But for Commbank, it is up to $5 mln.

A few banks offer higher rates than Commbank's 5.2%. They include AMP (5.40%), Bank Australia/Qudos (5.45%), Great Southern, Greater Bank and Heritage (5.25%) and Suncorp (5.30%).

But there are still some who don't meet the Commbank benchmark.

You can find all the current term deposit rates here and here. Check just before you make a commitment and decision because they change frequently.

And tomorrow's RBA rate signals may change these rates yet again.