Here are the changes the main banks have made to retail interest rates on Tuesday, May 19, 2026

Here are the changes the main banks have made to retail interest rates on Tuesday, May 19, 2026, so far.

For home loans:

Heritage Bank has raised its variable mortgage rates by +25 bps today across the board.

For savings accounts:

Heritage Bank is saying they have savings rates "under review". So expect changes there soon.

For term deposit accounts:

If you are a Commbank customer, you should know that their current 'specials' expire today. We are expecting a new 'specials' offer tomorrow, and given the general direction of rates recently, this will likely be either a rinse-and-repeat or a small increase in the rates offered. Obviously we don't know, but it does seem very unlikely they will cut rates at this time.

Bank Australia (but not cousin Qudos) have raised their three month term deposit rate by +20 bps to 5.00%. And they have raised their six month rate by +5 bps to 5.20%. If the prior patterns are repeated, you can expect Qudos to do something similar soon.