Savings rates already dropped for MOST term deposits

Most term deposit rates have dropped already. Most by 1% but there are the odd few that haven't yet.

Current best offer on Term Deposits:

8.3% fixed for 1 year with Southern Cross Building Society $1000+ 

But how long will this rate last?

Apparently Southern Cross BS due to be included under deposit insurance scheme so savings should be save. If does get included in this savings will be guaranteed by government