Judo Bank vs CommBank Term Deposits

By Peter Terlato · · 3 min read
Fact Checked
judobank vs cba term deposits

Australia’s biggest bank and one of its smallest challengers may seem worlds apart, but both have term deposits designed to give savers certainty. While Judo Bank leans on sharp rates and a low entry point, CommBank offers the weight of a household name and more options at maturity. Here’s how their term deposits stack up.

Judo and CBA term deposits side-by-side

The following table provides a direct comparison of the key features of the Judo Bank Personal Term Deposit and the Commonwealth Bank (CBA) Term Deposit, allowing you to see how each product's features stack up against one another.

Feature
 Judo Bank Personal Term Deposit
 Commonwealth Bank (CBA) Term Deposits
Highest rate available
 4.40% for 5 year and 8 month terms
 3.70% p.a. for 1 year (limited time special offer)
Minimum deposit
 $1,000
 $5,000
Maximum deposit
 $2,000,0000 (for higher amounts you must contact the bank)
 $1,999,999 (for higher amounts you must contact the bank)
Notice period for early withdrawal
 31 days
 31 days
Early withdrawal cost
 Prepayment cost (interest reduction) applies.
 A prepayment interest adjustment and an administration fee apply.
Interest payment frequency
 At maturity, or monthly, or annually.
 At maturity; or every 28 days (4 weekly) and/or at maturity; or every 6 months and/or at maturity; or every 12 months (annually) and/or at maturity.
Term durations
 You can choose a term from one month up to five years.
 You can choose a term from one month up to five years.
Loyalty bonus
 0.05% p.a. when you roll over your entire term deposit.
 No.
What happens at maturity?
 A 10-calendar-day grace period is provided. If no instructions are given, the funds automatically roll over into a new term of the same length at the prevailing rate. You can also add funds to your principal during this period.
 If no instructions are provided, the funds are moved to a variable rate Holding Facility. They are not automatically reinvested in a new term deposit, but rather renewed every seven days until you give instructions.
Government guarantee
 Deposits up to $250,000 per account holder are protected by the Australian Government's Financial Claims Scheme.
 Deposits up to $250,000 per account holder are protected by the Australian Government's Financial Claims Scheme.

What else to know?

  • How to apply. Both banks offer online applications. For a Judo Bank Personal Term Deposit, you can apply directly as a new customer with identification documents and a nominated Australian bank account. For Commonwealth Bank Term Deposits, existing customers can open an account through NetBank, but new customers must call or visit a branch.
  • No additional deposits. A key characteristic of most term deposits is that you cannot add more funds once the term has started. To add to your savings, you would need to open a separate term deposit or wait until the current one matures.
  • Maturity. At Commonwealth Bank, if you don't provide instructions at maturity, your funds will not automatically roll over into a new term deposit. Instead, they are moved into a holding facility, where they will remain until you provide new instructions for withdrawal or reinvestment. While in this facility funds earn a variable interest rate, paid every seven days. You can renew or withdraw at any time, however, if stored for longer than 26 weeks, CBA will automatically renew your funds as a rolling 1-month term deposit at the then-current advertised rate.

Judo Bank vs CBA: term deposit verdict

Both products are designed for savers who are comfortable with locking away their funds for a set period. The choice between them comes down to your individual circumstances and saving habits.

If you're starting with a smaller deposit ($1,000 minimum) and are interested in earning a loyalty bonus for reinvesting your savings, Judo Bank may be a good choice. If you have a larger sum to deposit ($5,000 minimum) and prefer a big, well-established bank with various options at maturity, then Commonwealth Bank may be for you.

It's important to remember that rates and terms are subject to change. Always check the official bank websites or product disclosure statements for the most current information before making a decision.

Note: The information in this article is correct as at 17 September, 2025.