After being slow to move on deposit rates during the initial stages of the interest rate tightening cycle, some deposit takers played catch-up last month with some big increases in at-call rates.

According to the latest Mozo Banking Roundup, AMP Bank announced last month that it will lift the ongoing bonus rate on its AMP Saver Account by 100 basis points to 3.6 per cent on November 1.

Its new rate will match ING Bank’s market leading bonus rate offer of 3.6 per cent on its Savings Maximiser account.

Macquarie Bank increased the four-month introductory rate on its Macquarie Savings Account by 60 bps to 3.7 per cent (reverting to 2.75 per cent). This is the highest introductory rate on a savings account.

St George Bank increased the ongoing bonus rate on its incentive Saver Account by 75 bps to 2.85 per cent.

ANZ is encouraging consumers to sign up to ANZ Plus with a 3 per cent ongoing rate on ANZ Save (up to A$250,000). This is the leading base rate in the market.

In the term deposit market, the top rate for a term under 12 months is 3.7 per cent, which AMP Bank is offering for 11 months.

Bank of Queensland, Judo Bank and Macquarie are all offering 3.75 per cent for 12 months.

Judo has the top rates for terms from two to five years: 4.45 per cent for two years, 4.6 per cent for three years, 4.75 per cent for four years and 4.85 per cent for five years.