The rate of turn is inversely proportional to the (True) airspeed. For an aircraft in a level, coordinated turn, the rate of turn is given by
$\mathrm{Rate\ of\ turn} = \frac{1091 \tan\theta}{V}$
where
- Rate of turn is in degrees per second,
- $\theta$ is the bank angle in degrees, and
- $V$ is the TAS in knots.
So, as the airspeed decreases, the rate of turn increases and vice versa—as long as the angle of bank is kept constant.
Image from cfinotebook.net
For an aircraft in a coordinated turn (i.e., no skidding or slipping), the vertical component of lift is equal to the weight, while the horizontal component is equal to the centrifugal force.
Forces in a turn, image from Instrument Flying Handbook
As the aircraft turns, if the airspeed increases with the bank angle held constant, the radius of turn increases with the square of the speed ($r = \frac{V^{2}}{11.26 \tan\theta}\ \mathrm{ft}$). Hence, the distance traveled during the turn increases as the square of the speed. Even though the aircraft is flying faster, the distance to be flown increases faster than the speed. As a result, the time taken to complete the turn is increased and the turn rate decreases.