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Judo Bank Term Deposit

Best rate (up to 1 year)
1.37% p.a.9 months
Interest paid to another bank?
yes
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Mozo editorial review Judo Bank Term Deposit

Last updated: 11 September 2020.

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What's hot
  • 2020 Mozo Experts Choice Award winner
  • 1.55% rate for three year term
  • Option to have interest paid to another bank
What's not
  • 31 days notice to withdraw funds before maturity
Mozo snapshot

If you’re looking for a competitive return on your savings, newcomer Judo Bank's term deposit is worth considering. Whether you’re looking to lock away your funds for three months or five years, your investment will earn interest at some of the most competitive rates in the market right now. You will also get the same protections as other Australian banks as eligible deposits of up to $250,000 with Judo Bank are covered under the Australian Government Deposit Claims Scheme. 

It's perhaps little surprise then that the Judo Bank Term Deposit took out a 2020 Mozo Experts Choice Award in the Best Term Deposit category.

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Key features

With the Judo Bank Term Deposit, Aussie savers will be able earn competitive interest rates (paid out at maturity) for a range of terms: 

  • 1.33% for a 3 month term

  • 1.33% for a 6 month term 

  • 1.37% for a 9 month term 

  • 1.28% for a one year term

  • 1.45% for a two year term

  • 1.55% for a three year term

  • 1.40% for a four year term

  • 1.45% for a five year term

On top of the these rates, savers will also earn a 0.10% loyalty bonus on top of the standard rate if you choose to reinvest your balance in another term deposit once it’s reached maturity.

You’ll also be able to have interest paid when it suits you best - either monthly, yearly or at maturity. And unlike many other term deposits, the Judo Bank Term Deposit allows you to have your interest paid to another bank. 

Just keep in mind that if you do wish to withdraw your funds before the maturity date, you will need to provide Judo Bank with 31 days notice.

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Who is it good for

The Judo Bank Term Deposit is a great option for Aussie savers looking to earn a competitive term deposit rate by locking away their funds for a long term. 

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Any catches

Though it’s not encouraged to withdraw funds from a term deposit before its maturity date, if you wish to do so, you will need to let Judo Bank know 31 days in advance. 



Details

Rates and fees information correct as at 18 September 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 1.33% p.a. ($1,000 to $1,000,000)

  • 1.33% p.a. ($1,000 to $1,000,000)

  • 1.37% p.a. ($1,000 to $1,000,000)

  • 1.28% p.a. ($1,000 to $1,000,000)

  • 1.45% p.a. ($1,000 to $1,000,000)

  • 1.55% p.a. ($1,000 to $1,000,000)

  • 1.40% p.a. ($1,000 to $1,000,000)

  • 1.45% p.a. ($1,000 to $1,000,000)

Other financial bits
  • $1,000.00

  • $1,000,000.00

Features
  • none

  • yes

  • yes

  • 31 days notice required if customers want to withdraw their funds before the maturity date.

  • Roll over principal after it reaches maturity to another Term Deposit and receive an additional 0.10% bonus on top of our standard Term Deposit for the new term

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

Customer Reviews

How are Judo Bank term deposits rated by the Mozo community?

Overall
5.5/10
Price
9.0/10
Features
8.5/10
Customer service
5.5/10
Convenience
5.5/10
Trust
5.5/10

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