Interest Rates - Tuesday 5 May 2026: Following the RBA’s decision to change the official cash rate, we’re currently reviewing what this means for our customers. We’ll update customers with the latest information once a decision has been made.
We've updated our deposit accounts to provide a consistent banking experience for all customers.
We’ve updated our deposit products, interest rates and rules across Bank Australia and Qudos Bank. This helps:
Rest assured, you'll still be receiving competitive rates on your savings.
There is nothing you need to do. The changes came into effect on 1 May 2026. You can read more below to understand how these changes affect your accounts. If your savings needs have changed, you can also explore our range of savings and term deposit options.
Effective from 1 May 2026 the below rates and tiers have changed:
Balance | Interest (p.a.) |
|---|---|
$0 - $49,999.99 | 0.00% |
$50,000+ | 0.05% |
Balance | Interest (p.a.) |
|---|---|
$0 - $499,999.99 | 4.10% |
$500,000 - $1,999,999.99 | 4.20% |
$2,000,000+ | 2.50% |
Make a deposit of at least $100 and no withdrawals each month to get the below interest rate:
Balance | Interest (p.a.) |
|---|---|
$0 - $100,000 | 4.85% |
$100,000.01 - $1,999,999.99 | 4.50% |
$2,000,000+ | 2.50% |
Balance | Interest (p.a.) |
|---|---|
Any balance | 0.10% |
Term | Interest paid at maturity | Interest paid monthly | Interest paid annually |
|---|---|---|---|
3 months |  | N/A | N/A |
6 months | | | N/A |
9 months | | N/A | N/A |
12 months | | | N/A |
18 months | N/A | N/A | N/A |
24 months | N/A | | |
36 months | N/A | | |
From 1 May 2026, we've changed the way we calculate your interest adjustment if you withdraw funds prior to the end of term. The below table provides a guide on how the interest adjustment will apply.
For example, if your funds are invested for 70% of the agreed term, the prepayment adjustment to be applied will be 40%.
Percentage of term elapsed | Adjustment to be applied as a % of your interest rate |
|---|---|
0% to less than 20% | 90% |
20% to less than 40% | 80% |
40% to less than 60% | 60% |
60% to less than 80% | 40% |
80% to less than 100% | 20% |
Effective from 1 May 2026, the following products are no longer available for new accounts:
We’re bringing Bank Australia and Qudos Bank products together into one simplified, consistent product range. This means removing duplicate products and creating a single set of features, rates and tiers so banking is easier to understand across both banks.
Some older products will be closed and moved to modern equivalents. Deposit tier structures and interest rates will be aligned across both banks, which might mean different rates for some balances.
Some customers may move to a lower interest rate as we standardise tiers and product settings across both banks. If you’re affected, we have a range of modern products designed to help you get the best value going forward.
Information provided is of a general nature only. In providing you with this information you should consider the appropriateness of this advice with regards to your particular financial situation and needs. You should consult the Product Disclosure Documents below and Target Market Determination before making a decision to apply for products with Bank Australia.
Terms, conditions, and all fees and charges across our products are outlined below. We will update documents on 1 May 2026 where relevant.
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