Judo Bank may not have the legacy of the major banks, but it's fast become a standout in the term deposit market. Despite its smaller size, the bank continues to deliver consistently high rates – often placing in the top five providers tracked in Mozo’s database.
Tax time is here, and for many Australians, that refund from the ATO isn’t just extra cash – it’s a chance to reset, rebuild or get ahead. Whether your refund is a few hundred or a few thousand dollars, there are smarter ways to use it than just letting it sit in your bank account.
This week, the Reserve Bank of Australia (RBA) delivered its second modest rate cut of the year, signalling a clear downward trend in interest rates. While this might seem like bad news for savers, there’s still time, and strategy, to make the most of what’s left on the table.
With the Reserve Bank of Australia (RBA) widely expected to deliver another interest rate cut on 20 May, time is running out for savers to lock in higher term deposit rates before they slip further.
NAB has trimmed its term deposit rates once more, continuing a downward spiral that began even before the Reserve Bank of Australia’s first cash rate cut in February 2025.
%20(1).jpg?width=324)
Term deposits are a great way of locking up some cash and getting a guaranteed interest rate. However, high interest rates accounts can often have high deposit requirements.
Dozens of banks have cut their term deposit rates this week, an early indication that providers are confident of another rate cut after the Reserve Bank’s meeting in May.
In bad news for savers, April term deposit rates in the 5% range are now rare for longer terms. This trend has accelerated following the RBA's recent decisions to reduce the cash rate, which is now feeding through to deposit products.
.png?width=324)
If you’re not in the financial comparison game like we are here at Mozo, you may be unaware that it’s a lot harder to get a high interest rate on your savings account without some kind of ‘condition’ attached.
If you're looking to invest in term deposits in 2025, but want to balance higher returns with flexible access to your funds, ‘laddering’ could be the strategy you're looking for.