Judo Bank now has a term deposit with a 2.00% p.a. interest rate

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Neobank Judo Bank has announced new increases to some of its term deposit interest rates.

The new rates now are:

  • 1.25% p.a. for a 1-year term
  • 1.50% p.a. for a 2-year term
  • 1.60% p.a. for a 3-year term
  • 1.90% p.a. for a 4-year term
  • 2.00% p.a. for a 5-year term

According to Mozo’s database, the last time there was a 2.00% term deposit rate was in June 2020.

“With five-year term deposit rates back around pre-pandemic levels, we’re seeing yet another indicator that the market is pricing in higher interest rates,” says Tom Godfrey, Mozo spokesperson. 

In the last month, there have been more than 140 term deposit increases in the Mozo database.

How does Judo Bank's new rates compare?

For starters, Judo currently offers the highest rates in the Mozo database for 1-year, 2-year, 3-year, 4-year and 5-year terms. This makes them one of the most competitive term deposits available in our database. 

However, it is important to keep in mind that the higher interest rates offered by Judo Bank are for term deposits where interest is paid at maturity. Accounts that have interest paid annually or monthly have slightly lower rates.

If you’re looking into term deposits check out Mozo’s term deposit guides to grow your knowledge before choosing your next term deposit account. Alternatively, check out our term deposit comparison table below.

Term deposit comparisons on Mozo - last updated 18 June 2024

Search promoted term deposits below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    Term Deposit

    5.20% p.a.
    5 years

    $1,000

    Yes up to $250,000

    Great rates and incentives incl. 0.10% added loyalty bonus at renewal. Option to have interest paid to another bank. Winner of the Mozo Experts Choice Awards 2024^ for Term Deposits.

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    Details
  • Mozo Expert Choice Badge
    Term Deposit

    5.10% p.a.
    5 years

    $1,000

    Yes up to $250,000

    Enjoy a competitive fixed interest with the choice of 1 month to 5 year terms. Start with as little as $1,000. Interest paid monthly, quarterly, half yearly or yearly. Receive a 0.10% loyalty bonus when you automatically reinvest your Term Deposit before maturity. (Terms and Conditions apply)

    Compare
    Details
  • Online Term Deposit

    -

    -

    Yes up to $250,000

    No set-up or account keeping fees. Deposits up to $250,000 per customer are guaranteed by the Australian Government. Mozo Experts Choice winner for Term Deposit 2022.

    Compare
    Details
  • SMSF Term Deposit

    5.20% p.a.
    5 years

    $1,000

    Yes up to $250,000

    Apply digitally in minutes and manage your SMSF Term Deposit. Flexible cash flow management with three interest payment frequencies that suit you: monthly, yearly, or at maturity. Choose from terms of 3 months up to 5 years. No application or monthly account fees but eligibility criteria and terms and conditions apply. Only accessible to SMSFs with two or up to four individual trustees or one corporate trustee.

    Compare
    Details
  • Term Deposit

    4.00% p.a.
    5 years

    $1,000

    Yes up to $250,000

    Enjoy the certainty of a fixed interest rate combined with the convenience of online banking to set up and manage your term deposit at maturity. You can start investing from as little as $1,000 or up to $5,000,000.

    Compare
    Details

* Different interest rates apply to different amounts or different interest payment frequencies.

^See information about the Mozo Experts Choice Term Deposit Awards

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