Here are the changes the main banks have made to retail interest rates on Wednesday, June 24, 2026

Here are the changes the main banks have made to retail interest rates on Wednesday, June 24, 2026, so far.

For home loans:

No changes to report today.

For savings accounts:

No changes here either

For term deposits:

Macquarie seems to have reached its limit on driving up term deposit rates. Until now, their heft has been important in the rate momentum across all banks. And that is because they have been wildly successfull in winning household deposit market share.

But today the momentum they have been providing shows signs of culminating.

Macbank has raised their 3 and 4 month rates by +5 bps to 5.0% for both terms (4.75% for deposits over $1 mln).

But at the same time they have trimmed -5 bps from their 6 month and 9 month TD rates, taking them back to 5.10% and 5.15% respectively. And they have trimmed -10 bps from their one year TD rate, to 5.20% (5.10% for $1 mln+ deposits).

Meanwhile, others are still trying to find a place to live with the Macbank rate monster. 

Today, Bank Australia and cousin Quodos have both added +10 bps top their 1 year TD rates, taking theirs to 5.45%. In the current market that is the high point, first claimed by  Great Southern Bank.