Top rates on longer-dated term deposits came down last month and while there was mix of increases and decreases in at-call rates, some of the cuts were applied to products offering high rates. Mozo reported in its latest Banking Roundup that in the term deposit market, the top rate for five years dropped from 5.1 per cent to 4.85 per cent – on offer from Alex Bank and Judo Bank. The top rate for four years dropped from 5 per cent to 4.85 per cent – on offer from Judo Bank. And the top rate for three years dropped from 5 per cent to 4.9 per cent – on offer from G&C Mutual Bank. The top rate for two years is 5 per cent (G&C Mutual) and the top rate for 12 months is 5.3 per cent (Family First Bank). For terms under 12 months, the top rate is 5.2 per cent, which Defence Bank is offering for six months and G&C Mutual for nine months. In the at-call market, Macquarie Bank cut the introductory bonus rate on its Savings Account by 15 basis points to 5.35 per cent. The unconditional base rate remained unchanged at 4.75 per cent. Move Bank cut the ongoing bonus rate on its Growth Saver by 20 bps to 5.5 per cent. The top ongoing bonus rate remains ME’s offer of 5.55 per cent for customers who deposit a minimum of $2000 into the HomeME Savings Account and grow the balance each month. The highest introductory rate of Rabobank’s offer of 5.75 per cent for four months (reverting to 4.4 per cent).  The highest base rate is Police Bank’s offer of 5.25 per cent on balances up to 10,000 and Australian Unity offer of 5.2 per cent where the savings account is linked to a transaction account.