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.
Provider | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
FEATURED | Term Deposit - 6 months
| ||||||||||||
Term Deposit - 6 months
| |||||||||||||
At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Term Deposit - 6 months | |||||||||||||
Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit - 12 months | |||||||||||||
At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | 8 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Online Term Deposit - 12 months | |||||||||||||
Annually, At Maturity, Monthly | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 10000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($10000+) - 12 months | |||||||||||||
At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | 7 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Savings ($1000-$500000) - 12 months | |||||||||||||
Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 10000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Term Deposit ($10k-$500k) - 6 months | |||||||||||||
At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 100000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Term Investment ($100k-$200k) - 6 months | |||||||||||||
Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 10000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit - 12 months | |||||||||||||
At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 500 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($500 - $1mn) - 12 months | |||||||||||||
At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit - 12 months | |||||||||||||
Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 10000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Term Deposit ($10k-$500k) - 12 months | |||||||||||||
At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | 31 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($1000+) - 9 month | |||||||||||||
At Maturity, Annually | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 5000 | 1 | $product[$field["value"]] | $product[$field["value"]] | More details | |||||
Term Deposit ($5k-$25k) - 12 months | |||||||||||||
Annually, At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Term Deposit ($1000-$499999) - 12 months | |||||||||||||
At Maturity | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | 1000 | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
Term Deposit ($1000+) - 12 months |
- Easy online application
- Interest can be paid to other institutions
- Maturity alert by email and phone
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.