On Tuesday night, Westpac said it would increase rates by 0.25 percentage points for three deposit products including one aimed at retirees. Group executive for retail banking Angus Sullivan said: “We hope this special rate will provide some support for savings customers who have had a challenging couple of years.” The offer is open to savers with between $5000 and almost $2 million. Commonwealth Bank on Wednesday afternoon announced a special of 2.25 per cent for its 18 month term deposit, an increase of 1.95 percentage points.