In September 2023, the average monthly term deposit interest rate for institutions in Australia was 4.6 percent per annum. The average deposit rate for new term deposits in Australia had declined to as low as 0.2 percent per annum in 2021.
Average monthly term deposit interest rate for institutions in Australia from July 2019 to September 2023
(in percent per annum)
weighted average interest rate paid to institutions on all new term deposits
Supplementary notes
According to the source, data are compiled from monthly returns collected by APRA for all authorised deposit-taking Institutions (ADIs) with $4 billion in deposits or more.
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Reserve Bank of Australia. (November 7, 2023). Average monthly term deposit interest rate for institutions in Australia from July 2019 to September 2023 (in percent per annum) [Graph]. In Statista. Retrieved October 03, 2024, from https://www.statista.com/statistics/1425042/australia-monthly-institution-term-deposit-rate/
Reserve Bank of Australia. "Average monthly term deposit interest rate for institutions in Australia from July 2019 to September 2023 (in percent per annum)." Chart. November 7, 2023. Statista. Accessed October 03, 2024. https://www.statista.com/statistics/1425042/australia-monthly-institution-term-deposit-rate/
Reserve Bank of Australia. (2023). Average monthly term deposit interest rate for institutions in Australia from July 2019 to September 2023 (in percent per annum). Statista. Statista Inc.. Accessed: October 03, 2024. https://www.statista.com/statistics/1425042/australia-monthly-institution-term-deposit-rate/
Reserve Bank of Australia. "Average Monthly Term Deposit Interest Rate for Institutions in Australia from July 2019 to September 2023 (in Percent per Annum)." Statista, Statista Inc., 7 Nov 2023, https://www.statista.com/statistics/1425042/australia-monthly-institution-term-deposit-rate/
Reserve Bank of Australia, Average monthly term deposit interest rate for institutions in Australia from July 2019 to September 2023 (in percent per annum) Statista, https://www.statista.com/statistics/1425042/australia-monthly-institution-term-deposit-rate/ (last visited October 03, 2024)
Average monthly term deposit interest rate for institutions in Australia from July 2019 to September 2023 (in percent per annum) [Graph], Reserve Bank of Australia, November 7, 2023. [Online]. Available: https://www.statista.com/statistics/1425042/australia-monthly-institution-term-deposit-rate/