Judo Bank increased its five-year term deposit rate by 30 basis points to 4.05% p.a.
Judo Bank, Bendigo Bank, ME Bank, BOQ and more have recently increased their term deposit rates by up to 135 basis points.
Judo Bank increased term deposit rates by sizeable margins, with a few flirting with the 3% mark.
Despite the current low-interest environment, some term deposit rates have started to rise.
On Wednesday Judo Bank increased various term deposit interest rates, while CommBank cut its own.
Two banks - AMP and Judo - are tempting savers with higher term deposit and savings account interest rates.
While the past 12 months have proven to be too challenging for some Australian neobanks, Judo Bank has held strong.
Judo Bank has boosted interest rates across a range of its term deposits, going against current market trends.
A number of major banks have cut term deposit rates by up to 45 basis points in the past seven days, including the likes of NAB, Suncorp, AMP and Judo Bank.
Analysis released today revealed neobanks have had their media mentions drop by three quarters in the COVID-19 period.