Deposits still growing ahead of mortgages 01 June 2012 4:36PM John Kavanagh Consumer lending, Household deposits continue to grow at a faster rate than home loans, according to the latest Australian Prudential Regulation Authority banking statistics. This is good news for banks trying to increase the proportion of their funding coming from deposits.Total household deposits grew by 8.3 per cent during the 12 months to April 2012. Over the three months to April, the growth dropped back to 1.7 per cent - an annualised rate of 6.8 per cent.Total mortgage balances grew by 5.7 per cent over the 12 months to April and by an annualised rate of 5.2 per cent over the three months to April.RaboDirect has had the biggest inflows, growing its book 60 per cent over 12 months and by three per cent just in the month of April.Others that have grown above system in recent months include Investec, AMP Bank, ANZ and Suncorp. Among those recording deposit outflows were Citibank (down eight per cent over the three months to April) and Rural Bank (down 7.2 per cent over the three months) Among the big banks, all four have had deposit growth running well ahead of mortgage growth over the past year.