Judo – a bank that primarily focused on lending to small to medium-sized enterprises (SMEs) was already well ahead of the rest of the market for term deposit rates.

While most banks fail to offer rates above or even near 2.00% p.a. now, Judo Bank doesn’t have a single term deposit rate below this amount.

Judo Bank’s new product at 2.35% p.a. for six months is comfortably the highest six-month interest rate on the market at the moment among publically available term deposits.

The next closest that Savings.com.au could find is 1.90% p.a, offered by Arab Bank, while both Nexus Mutual and ME Bank offer 1.85% p.a.

For a $50,000 deposit, the extra 45 basis points could lead to more than $100 extra based a $50,000 deposit.

The table below displays some of the highest-rate six-month term deposits on the market.

Rates
Features
Conditions
Other
Provider
At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]5000$product[$field["value"]]$product[$field["value"]]More details

Term Deposit - 6 months

    More details
    At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]25000$product[$field["value"]]$product[$field["value"]]More details

    Term Deposit - 6 months

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      At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]1000$product[$field["value"]]$product[$field["value"]]More details

      Fixed Term Deposit - 6 months

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        At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]1000$product[$field["value"]]$product[$field["value"]]More details

        Term Deposits - 6 months

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          At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]5000$product[$field["value"]]$product[$field["value"]]More details

          ME Bank Term Deposit - 6 months

            More details
            Important Information and Comparison Rate Warning

            All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of October 23, 2024. View disclaimer.

            Important Information and Comparison Rate Warning

            Judo Bank also offers highly competitive to market-leading rates for the following popular term deposit terms:

            • 9 months: 2.15% p.a.
            • 1 year: 2.15% p.a.
            • 2 year: 2.15% p.a.
            • 3 year: 2.25% p.a.
            • 4 year: 2.10% p.a.
            • 5 year: 2.10% p.a.

            Savings.com.au has contacted Judo Bank for comment on this new product.