Here are the changes the main banks have made to retail interest rates on Friday, August 28, 2026

Here are the changes the main banks have made to retail interest rates on Friday, August 28, 2026, so far.

For home loans:

No changes to report today.

For savings accounts:

None here either.

For term deposits:

Bank of Queensland has raised three key rates in their myBOQ offers. Their 3 month rate is up +20 bps to 4.95%. Their 6 month rate is up +10 bps to 5.15%. And their one year TD rate is up +5 bps to 5.30%. However, they have not changed any rates in their 'Premier Investment' offer set.

BOQ's new 5.30% rate matches AMP Go rates for the same one year term, and Teaches Mutual, all for a $5000 minimum deposit. But it is still less than AMP Bank's 5.35% offer for a minimum $25,000 TD.

Great Southern Bank has cut many standard TD rates by between -10 bps and -20 bps. They have made similar reductions for their Platinum Plus term deposit rates too.