The number of deposit takers offering at-call and term deposit rates of 5 per cent or more increased in June, as competition for deposits remained intense. According to the latest Mozo Banking Roundup, the top rate in the market is ME Bank’s ongoing bonus rate of 5.65 per cent. To qualify for the bonus rate, customers must deposit at least A$2000 and grow the balance each month. The introductory rate on Macquarie’s savings account is 5.55 per cent for four months, reverting to 4.5 per cent. Rabobank increased the introductory rate on its High Interest Savings Account to 5.5 per cent last month. Australian Unity has an introductory rate of 5.4 per cent on its Easy Saver account. Police Bank has a base rate of 5.25 per cent for customers under 30 with balances of up to $10,000 and Westpac has an ongoing bonus rate of 5.2 per cent on its Life account, which is open to customers under 30. Among the changes last month, bcu increased its bonus saver rate by 25 basis points to 5 per cent, MyState increased its bonus rate by 25 bps to 5 per cent and P&N Bank increased the introductory rate on its Hi Saver account by 35 bps to 5 per cent. Among the big banks, Commonwealth Bank, NAB and Westpac are all offering introductory rate of 4.75 per cent. Westpac and NAB have the top ongoing bonus rates of 4.75 per cent. In the term deposit market, the top rate under 12 months is AMP Bank’s offer of 5.4 per cent for 11 months. AMP also has the best 12-month rate – 5.4 per cent. Judo Bank and Australian Military Bank have the top rate of 5.35 per cent for two years and the top rate of 5.35 per cent for three years. AMP Bank is offering 5.2 per cent for four years and Judo is offering 5.25 per cent for five years.