Fewer than half of all authorised deposit taking institutions have passed on any increase in their at-call deposit rates since the Reserve Bank increased the cash rate by 25 basis points last month.
Comparison site Mozo reported in its latest Mozo Banking Roundup that 53 of the 89 savings account providers it tracks have not yet increased any of their at-call product rates.
And among those that have increased their rates, a number have raised rates by less than 25 bps.
Among the rate leaders, Rabobank increased the four-month introductory rate on its High Interest Savings Account by 25 bps to 1.6 per cent (reverting to 50 bps). This is the top intro rate in the market.
Volt Bank offers the highest unconditional at-call rate after increasing its savings rate by 25 bps to 1.15 per cent.
Virgin Money increased its Boost Saver ongoing bonus rate by 15 bps to 1.15 per cent.
Macquarie added 15 bps to the introductory rate on its Savings Account, which is now 1.5 per cent.
Bank of Queensland boosted its Future Saver ongoing bonus rate by 100 bps to 3 per cent. The account is open to customers aged 14 to 30.
ING and AMP Bank have the highest ongoing bonus rate of 1.35 per cent. The ING Savings Maximiser account requires a minimum deposit of A$1000 a month and five debit transactions.
The AMP Saver account requires a minimum deposit of $250 a month.
In the term deposit market, Mozo said AMP Bank, firstmac and BNK Bank are offering 2.9 per cent for 12 months.
AMP Bank has eclipsed Judo Bank, offering the top rates for terms between two and five years: 3.65 per cent for two years, 3.9 per cent for three years, 4.05 per cent for four years and 4.15 per cent for five years.