Judo Bank: the bank you’ve never heard of that’s hitting term deposits out of the park

It’s one of the smaller term deposit providers on the block, but Judo Bank certainly isn’t content with just blending in. This banking provider has consistently placed among the top five spots of term deposit providers we track.

Judo Bank’s term deposit interest rates go as high as 5.15% p.a. on 6 month terms. Plus customers who roll over their principal after it reaches maturity to another Judo Bank term deposit will be able to grab a 0.10% loyalty bonus.

“It’s great to see a new bank come into the market promising to offer some of the best rates around,” said Mozo Banking Expert, Peter Marshall.

“So far, Judo has stuck to its guns, as it’s consistently been offering some of the highest rates in our database for several terms since its launch.”

Judo was even recognised by Mozo’s experts in the 2024 Mozo Experts Choice Awards^ in savings and transactions, taking home a win in the term deposit, SMSF term deposit, and small business term deposit categories.

Judo isn’t alone in offering competitive rates to Aussie savers though – you might also be interested in looking at some of Mozo’s favourite savings accounts below.

Personal term deposit

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Important disclosures
Judo Bank Term Deposit
  • 5.15% p.a. interest rate for 6 months
  • 0.10% loyalty bonus
  • Interest paid to bank of your choice

Whether you’re looking for a short or long term place to stash your cash, Judo Bank has some seriously competitive term deposit interest rates on offer across a number of terms. Savers will be able to grab a rate of 5.15% p.a. for a 6 month term. That’s not all though, as customers who roll over their principal after it reaches maturity to another Judo Bank term deposit will be able to grab a 0.10% loyalty bonus, plus Judo lets customers nominate the bank they want their interest paid into.

SMSF term deposit

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Important disclosures
Judo SMSF Term Deposit
  • 5.15% p.a. interest rate for 6 months
  • Choose from 3 months to 5 year terms

Grow your SMSF by securing a competitive interest rate for periods ranging from 3 months to 5 years. Apply digitally in minutes and manage your SMSF term deposit. Enjoy flexible cash flow management with three interest payment frequencies that suit you: monthly, yearly, or at maturity. There are no application or monthly account fees, but break costs may apply if you withdraw your term deposit before maturity. Only accessible to SMSFs with two or up to four individual trustees or one corporate trustee.

Business term deposit

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Important disclosures
Judo Business Term Deposit
  • 5.15% p.a. interest rate for 6 months
  • Flexible cash flow management

Make your spare funds work for you with a Judo business term deposit. Secure a competitive interest rate for periods ranging from 3 months to 5 years. Easily apply digitally in minutes and manage your business term deposit via your phone. Enjoy flexible cash flow management with three interest payment frequencies that suit you: monthly, yearly, or at maturity. Pay no application or monthly account fees, but break costs may apply if you withdraw your term deposit before maturity.

Competitive savings accounts

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Important disclosures
Rabobank High Interest Savings Account
  • 5.60% p.a. for the first 4 months (4.40% p.a. ongoing)
  • Mozo Experts Choice Winner 2024 ^

If you are looking to kick-start your savings, this award-winning online savings account account from Rabobank has a high introductory rate of 5.60% p.a. for the first four months on balances up to $250k. The ongoing rate is still a competitive 4.35% p.a and there are no pesky minimum balance or minimum deposit requirements. There are also no account fees so you can enjoy both hassle-free and fee-free saving. This account is only accessible via online banking so you’ll need to download the Rabobank app or login via internet banking.

ING Savings Maximiser
  • 5.50% p.a. maximum interest rate
  • No account keeping fees
  • High Interest Savings Winner - Mozo Experts Choice Award 2024

The ING Savings Maximiser’s 5.50% maximum interest rate is hard to beat. You can earn a high bonus rate of interest when you make 5 card purchases on your linked ING translation account, deposit at least $1,000 and grow your balance every calendar month. The maximum interest rate is available on balances up to $100,000 and there are no monthly account fees. If bonus interest conditions are not met in a calendar month, the standard variable rate of 0.55% p.a. will apply in the next calendar month. Mozo Experts Choice Award winner^.

Interested in comparing even more savings options? Browse through an even wider range of options on Mozo’s savings account and term deposit comparison tables.


* 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.