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

woman cheering at a festival

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 17 May 2022

Search promoted term deposits below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    Term Deposit
    interest rate
    Minimum deposit
    Govt Deposit Guarantee
    4.05% 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 2021 for Term Deposits.

    Details
  • Mozo Expert Choice Badge
    Term Deposit
    interest rate
    Minimum deposit
    Govt Deposit Guarantee
    3.75% p.a.
    5 years
    $5,000
    Yes up to $250,000

    Competitive rates and fast online application for one year term deposit. Start investing with as little as $5,000 up to $500,000. No account keeping or set up fees to pay. Option to have interest paid at maturity. MyLife MyFinance is part of the Challenger Group.

    Details
  • Term Deposit
    interest rate
    Minimum deposit
    Govt Deposit Guarantee
    0.65% p.a.
    5 years
    $10,000
    Yes up to $250,000

    $0 Set up and no ongoing account-keeping fees. Interest rate depends on balance amount. Optional 3,6,9 or 12 month terms. Balances from $10,000.

    Details

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

^See information about the Mozo Experts Choice Term Deposit Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.