They’re one of the newest kids on the block in the world of Australian term deposits, but Judo Bank certainly aren’t content with just blending in.
Despite term deposit rates falling left, right and centre in the wake of six RBA rate cuts in 2019 and 2020, Judo Bank have burst onto the scene with some of the most competitive term deposit rates around.
The neobank is currently* offering the highest rates in the Mozo database for 3 month, 6 month, 9 month, 1 year, 2 year, 3 year, 4 year and 5 year terms, with rates sitting as high as 1.60%.
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 1.60% for a 5-year term and between 0.98% and 1.40% for other terms. 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.
“Term deposit rates have been in free fall for years now, so 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 have stuck to their guns, as they've consistently been offering some of the highest rates in our database for a number of terms since their launch.”
Judo were even recognised by Mozo's experts in the 2021 Mozo Experts Choice Awards, becoming one of only a handful of banks to take out an Award for Best Term Deposit.
Interested in seeing just how well Judo Bank’s term deposits stack up against other deals on the market? Head over to the Mozo term deposit comparison hub to compare offers from 70 other banks.