Judo Bank Term Deposit

Judo Bank Term Deposit

Min. Opening Deposit

1,000

Account Keeping Fee

0.00
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Earn a competitive, fixed interest rate on your deposit with Judo Bank.

  • Terms between six months and five years
  • Small minimum deposit
  • Loyalty bonus when you roll over your term deposit
  • No account fees

Product details

The Judo Bank Term Deposit offers a range of term lengths to choose from, between six months and five years. The minimum opening deposit is just $1,000 and there are no account-keeping or set-up fees to pay.

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The interest rates offered on the Judo Bank Term Deposit are among the most competitive in the market.

Product Name
Judo Bank Term Deposit
6 month interest rate
2.00%
9 month interest rate
1.95%
12 month interest rate
2.00%
24 month interest rate
1.95%
36 month interest rate
1.95%
48 month interest rate
1.95%
60 month interest rate
1.95%
Min Deposit
$1,000
Minimum Age Requirement
18

Features

No account fees

There are no set-up fees to get started with this account and there are no ongoing account-keeping fees to worry about.

Range of term lengths

You can choose from a range of term lengths, depending on how long you want to lock your money into the term deposit. Available term lengths include 6, 9, 12, 24, 36, 48 and 60 months.

Earn 2.00% p.a. on a 6-month term deposit

You'll earn a competitive, fixed interest rate of 2.00% p.a. on a 6-month term. Interest rates for alternative term lengths are shown in the table above.

Earn interest monthly, yearly or at account maturity

You can select how often you want to receive your interest payments. Choose to receive your interest monthly, yearly or in one lump sum when your term deposit reaches maturity. The interest will be paid to your nominated Australian bank account.

Earn a 0.10% p.a. loyalty bonus when you roll over your term

Once your term deposit reaches maturity, if you choose to roll over your initial deposit into a new term you'll earn a 0.10% loyalty bonus on top of the standard rate offered.

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.

Pros

  • Competitive rate of 2.00% p.a. for 6 months
  • Loyalty bonus interest available
  • Interest paid into any Australian bank account
  • Small opening deposit

Cons

  • No terms less than 6 months
  • A prepayment cost applies if you break the term deposit before it matures. The cost will be determined by Judo Bank.

How to apply

You can apply for a 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.

Eligibility

  • Age. You must be over 18 years old to open this account.
  • Residency. You're an Australian resident with an Australian residential address.

Documentation

  • Identification. To prove your identity, you'll need to provide your driver's license, Medicare or passport details.
  • Bank account details. The details of your Australian bank account where you want your interest to be paid.
  • Tax file number. This is to make sure you're taxed at the appropriate rate.
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