Judo Bank launches new 1.90% 3-month term deposit

author-avatar By
on February 20, 2020
Judo Bank launches new 1.90% 3-month term deposit

Photo by Uriel Soberanes on Unsplash

Judo has expanded its term deposit offering, releasing a new product with a three month term.

Judo's new three-month term deposit has a 1.90% p.a. interest rate, equivalent to a return of 0.475% for the length of the term. 

Judo, which also launched a six-month deposit product in October 2019, recently announced it had hit the $1 billion mark in deposits, just nine months after becoming an authorised deposit-taking institution (ADI)

Want to earn a fixed interest rate on your cash? The table below features term deposits with some of the highest interest rates on the market for a six-month term.

Lender

Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

Personal Term Deposit - 6 months (Annually)

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

    Term Deposit - 6 months

      At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]1000031$product[$field["value"]]$product[$field["value"]]More details

      Term Deposit - 6 months ($10k-$250k)

        Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

        Edvest Term Deposit I20 ($1000-$499999) - 6 months

          Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

          Term Deposit I10 ($1000-$499999) - 6 months

            Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]250000$product[$field["value"]]$product[$field["value"]]More details

            Term Deposit ($250k+) - 6 Months

              Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

              Term Deposit (> $1000) - 6 months

                Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]1000031$product[$field["value"]]$product[$field["value"]]More details
                FLEXIBLE INTEREST AND REPAYMENT TERMS
                • Interest can be paid to other institution
                • Automatic maturity rollover
                • Early Withdrawal Available
                FLEXIBLE INTEREST AND REPAYMENT TERMS

                Term Deposit (<$1m) - 6 months

                • Interest can be paid to other institution
                • Automatic maturity rollover
                • Early Withdrawal Available

                Rates based on a $50,000 deposit for 6 months. Rates correct as of May 26, 2022. View disclaimer.

                Judo's General Manager for Deposits Patrick Nolan told Savings.com.au the new term deposit was released based on customer demand.

                "Our customers have provided us consistent feedback they want the option of a shorter term deposit so they have flexibility in their investment portfolio but still get a great return at 1.90%," Mr Nolan said. 

                "We have also seen that for customers who have never held a Term Deposit before, the three-month term deposit is a good entry option for them to test out the product."

                A quick scan of the market shows Judo's 1.90% p.a. rate is one of the highest available. Other close interest rates belong to:

                • Bank of Sydney (1.85% p.a.)
                • Nexus Mutual (1.80% p.a.)
                • RACQ (1.75% p.a.)
                • AMP (1.75% p.a.)

                According to Savings.com.au's research, the average three-month term deposit rate across the market is around 1.50% p.a.

                "The three-month term deposit is a great option to provide customers flexibility in their investment strategy at a market leading rate of 1.90%," Mr Nolan said.

                Judo term deposit interest rates 

                Term

                Interest rate

                3 Months

                1.90% p.a.

                6 Months

                1.95% p.a.

                9 Months

                1.95% p.a.

                1 Year

                2.00% p.a.

                2 Years

                2.05% p.a.

                3 Years

                2.15% p.a.

                4 Years

                2.25% p.a.

                5 Years

                2.35% p.a.

                Source: Judo

                Looking for a longer term deposit? The table below displays some of the highest term deposit interest rates available for a one-year term.

                Lender

                Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

                Personal Term Deposit - 12 months (Annually)

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

                  Term Deposit - 12 months

                    At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]1000031$product[$field["value"]]$product[$field["value"]]More details

                    Term Deposit - 12 months ($10k-$250k)

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

                      Term Deposit ($1000-$500001) - 12 months

                        Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details
                        EARLY WITHDRAWAL AVAILABLE
                        EARLY WITHDRAWAL AVAILABLE

                        Term Deposit (> $1000)- 12 months

                          At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500031$product[$field["value"]]$product[$field["value"]]More details

                          Term Deposit - 12 months

                            Rates based on a $50,000 deposit for 12 months. Rates correct as of May 26, 2022. View disclaimer.


                            Latest Articles

                            author-avatar
                            William Jolly joined Savings.com.au as a Financial Journalist in 2018, after spending two years at financial research firm Canstar. In William's articles, you're likely to find complex financial topics and products broken down into everyday language. He is deeply passionate about improving the financial literacy of Australians and providing them with resources on how to save money in their everyday lives.

                            Be Savings smart.
                            Subscribe for free money newsletters.

                            By subscribing you agree
                            to the Savings Privacy Policy