Judo Bank business term deposit
- Interest rate 12 months interest rate
- Up to 5.35% p.a.
- Minimum opening deposit
- Account keeping fee
The Judo Bank Business Term Deposit offers a range of term lengths to choose from, between 3 months and 5 years. The minimum opening deposit is just $1,000 and there are no account-keeping or set-up fees to pay.
This product is available to private companies, trusts and incorporated associations.
Judo Bank offers some of the best term deposit rates in the market
No account fees
31 days’ advance notice required in case of withdrawing funds before maturity
|Product Name||Judo Bank Business Term Deposit|
|3 month interest rate||4.90%|
|6 month interest rate||5.05%|
|9 month interest rate||5.20%|
|12 month interest rate||5.35%|
|24 month interest rate||5.35%|
|36 month interest rate||5.35%|
|48 month interest rate||5.20%|
|60 month interest rate||5.20%|
|Minimum Opening Deposit||$1,000|
|Minimum age requirement||18|
|Minimum Age Requirement||18|
|Available to children||Not available for children|
No account fees
There are no set-up fees to open this account and there are no monthly account-keeping fees to pay.
Range of term lengths
Available term lengths include 3, 6, 9, 12, 24, 36, 48 and 60 months. Typically, you’ll earn a higher fixed rate for longer term lengths.
Choose when to receive interest payments
You can select how often you want to receive your interest payments. Choose to receive your interest annually (for terms over 1 year), monthly or in one lump sum when your term deposit reaches maturity. If you choose to receive interest payments monthly, you’ll earn a slightly lower fixed interest rate.
The interest will be paid to your nominated external Australian bank account.
Available to a range of business types
This account can be opened by private businesses, trusts and incorporated associations.
Deposits up to $250,000 are guaranteed by the Australian government
Your deposit up to $250,000 with Judo Bank is covered by the Financial Claims Scheme. This means that in the unlikely event that something were to happen to Judo Bank, your deposit up to this amount is protected.
How to apply
You can apply for a business term deposit with Judo Bank online in a few minutes. Before you start the application, make sure you meet the eligibility requirements and have the following documents ready.
- Age. Each person named on the account must be over 18 years old.
- Residency. Each person named on the account must be an Australian resident with an Australian residential address.
- Identification. Each person named on the account will need to provide 2 forms of ID (Australian driver's license, Medicare or passport details).
- Bank account details. The details of your external Australian bank account where you want your interest to be paid. This should be in the same name as the entity applying for this account.
- Business numbers. The Business ABN and/or ACN and any other required business identifiers.
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October 05, 2023
Can I set up a term deposit for a family trust with a corporate trustee, if so, how can I go about setting it up? Also, will it be eligible for the Australian Government guarantee? Thanks
Shubham Pandey Finder
October 23, 2023
Thankyou for your question.
Yes, you can set up a term deposit for a family trust with a corporate trustee through Judo Bank. To set it up, you would need to follow the steps mentioned in the above guide.
As for eligibility for the Australian Government guarantee, business term deposits with Judo Bank are typically covered by the Financial Claims Scheme. This means that in the unlikely event that something were to happen to Judo Bank, your deposit up to $250,000 is protected. This coverage should extend to term deposits held in the name of a family trust with a corporate trustee, but it’s always a good idea to double-check with Judo Bank to ensure your specific trust structure qualifies for the guarantee.
I hope this helps.
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April 20, 2023
do you invest cash for superannuation funds
Alison Banney Finder
April 21, 2023
Hi Janetta, this account is for businesses only, however Judo Bank does offer a separate SMSF Term Deposit for SMSF customers.