Savings hit new record high, despite dip for CBA
27 Feb 2026
Australians have squirrelled away an additional $2.8 billion in the month of January as the country remains focused on building up rainy day funds, even in the heat of the silly season.
Today’s APRA statistics show household deposits among authorised deposit-taking institutions (ADIs) hit a new record high of $1.72 trillion in January, an increase of $134.5 billion in the space of a year.
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| APRA total deposits by households | ||
|---|---|---|
| Amount | Monthly change | Year-on-year change |
| $1.72 trillion | +$2.8 billion
+0.2% |
+$134.5 billion
+9% |
Source: APRA Monthly Authorised Deposit-taking Institution Statistics for January 2026, released 27 February 2026, prepared by Canstar. Deposits include term deposits, transaction accounts, mortgage offsets and savings accounts on the books of ADIs.
Despite this, CBA’s household deposit book went backwards in January, the first dip since June 2025. The drop was, however, a relatively minor 0.1% or $475 million, which came off a large increase in December. The bank still holds the lion’s share of deposits at 27% of all ADIs.
Westpac posted the largest monthly increase among the big four banks, rising by $1.3 billion or 0.4% in January, yet Macquarie continued to outpace its big bank competitors, increasing by $2.1 billion or 2.1% in the month.
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| Household deposits | ||||
|---|---|---|---|---|
| Amount | Market share | Monthly change | Year-on-year change | |
| CBA | $455.9 billion | 27% | -0.1% | +9.2% |
| Westpac | $355.3 billion | 21% | +0.4% | +8.7% |
| NAB | $237.1 billion | 14% | +0.3% | +7.6% |
| ANZ | $194.1 billion | 11% | +0.1% | +5.4% |
| Macquarie | $103.2 billion | 6% | +2.1% | +35.6% |
| All ADI loans | $1.72 trillion | 100% | +0.2% | +8.5% |
Source: APRA January 2026, released 27 February 2026, prepared by Canstar. Includes both owner-occupied and investor loans to households for the big four banks and Macquarie. ANZ figures do not include former Suncorp mortgages.
Mortgage market posts a bumper year
The total value of home loans has hit another record high of $2.44 trillion in January.
Today’s APRA figures show housing loans among ADIs increased by $152.4 billion in the 12 months to January, up 6.7% from the previous year, and $11.4 billion in the month of January (+0.5%).
While growth in January slowed across the board, CBA posted the largest monthly increase among the big four banks, rising by $2.77 billion or 0.4% in January.
ANZ returned to growth in its home loans book in January, posting an albeit slight $565 million increase, up 0.2% in the month, after going backwards by $46 million (-0.01%) in December.
Macquarie added an impressive $2.74 billion increase (+1.7%) to its loan book in January.
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| Loans to households: housing | ||||
|---|---|---|---|---|
| Amount | Market share | Monthly change | Year-on-year change | |
| CBA | $619.2 billion | 25% | +0.4% | +6.9% |
| Westpac | $504.6 billion | 21% | +0.4% | +4.5% |
| NAB | $344.7 billion | 14% | +0.3% | +5.6% |
| ANZ | $322.1 billion | 13% | +0.2% | +3.9% |
| Macquarie | $167.4 billion | 7% | +1.7% | +26.0% |
| All ADI loans | $2.44 trillion | 100% | +0.5% | +6.7% |
Source: APRA, January 2025, released 27 February 2026, prepared by Canstar. Includes both owner-occupied and investor loans to households for the big four banks and Macquarie. ANZ figures do not include former Suncorp mortgages.
Mortgage market has smashed through another record
Canstar’s data insights director, Sally Tindall, says, “Australians managed to keep money in the bank moving in the right direction, despite what is typically an expensive time of year.”
“Importantly, these savings figures don’t just reflect cash sitting in traditional savings accounts – they also include money parked in mortgage offset accounts.
“While deposits are rising overall, CBA’s book dipped slightly in January – the first monthly fall since June last year.
“Macquarie continues to punch above its weight, growing deposits by more than 2 per cent in a single month and a staggering 36 per cent over the year.
“This kind of growth doesn’t happen by accident. The bank’s continued focus on a simple savings proposition, with a competitive rate without monthly strings, but also a growing mortgage book, and a customer base that is likely to be focused on getting the most out of their offset accounts.
“The mortgage market has smashed through another record, climbing to $2.44 trillion. Rate cuts, rising property prices and renewed borrower confidence fuelled a $152 billion surge in housing debt in the 12-month period.
“Even with growth easing slightly in January, the appetite for property remains strong and the big banks are once again battling hard for their slice of the pie.
“CBA posted the biggest dollar increase among the big four in January, showing it’s still the dominant force in the mortgage market. However, Macquarie continues to grow faster than the majors, signalling that competition in home lending is alive and kicking.”
This article was reviewed by our Consumer Editor Meagan Lawrence before it was updated, as part of our fact-checking process.
