In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask an expert
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Judo Bank Term Deposit

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Judo Bank Term Deposit
Interest rate 12 months interest rate
Up to 5.35% p.a.
Minimum opening deposit
$1,000
Account keeping fee
$0

Summary

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

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

Pros

  • Competitive rate of 5.05% p.a. for 6 months
  • Loyalty bonus interest available
  • Interest paid into any Australian bank account
  • Small opening deposit

Cons

  • 31 days’ advance notice required in case of withdrawing funds before maturity
  • A prepayment cost applies (in the form of interest adjustment) if you break the term deposit before it matures. The cost will be determined by Judo Bank.

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask an expert

Details

Key details

Product Name Judo Bank 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 5.30%
60 month interest rate 5.30%
Minimum Opening Deposit $1,000
Minimum age requirement 18
Government guarantee Yes

Eligibility

Minimum Age Requirement 18
Joint account availability Yes
Min Deposit $1,000
Available to children Not available for children

Key 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 3, 6, 9, 12, 24, 36, 48 and 60 months.


How to apply

Eligibility

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.

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

Your reviews

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Alison Finder

Editor

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Anne

October 03, 2023

On a 12 month term deposit is interest 5.25% paid monthly or annually? If paid monthly does the rate (5.25%) reduce?


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Shubham Pandey Finder

October 23, 2023

Hi Anne,


Thankyou for your question.


All term deposit interest rates mentioned in the guide are on a per annum (p.a.) basis.


Yes, if paid monthly, the interest rate stands at 5.05% p.a.


Please note: Interest rates are current and are subject to change. The rate may have changed by the time you apply.


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JANE

October 01, 2023

Can you please tell me if I was to access the funds within the year, does that mean the interest rate is calculated on the remainder of the money?


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Shubham Pandey Finder

October 23, 2023

Hi Jane,


If you access the funds within the year and make an early withdrawal from your Judo Bank Term Deposit, the interest rate you receive will be adjusted based on the percentage of the term elapsed as of the prepayment date.


Here’s how it works:


0% to less than 20% of the term elapsed: You’ll receive 90% of the Term Deposit interest rate.

20% to less than 40% of the term elapsed: You’ll receive 80% of the Term Deposit interest rate.

40% to less than 60% of the term elapsed: You’ll receive 60% of the Term Deposit interest rate.

60% to less than 80% of the term elapsed: You’ll receive 40% of the Term Deposit interest rate.

80% to less than 100% of the term elapsed: You’ll receive 20% of the Term Deposit interest rate.


So, the earlier you access your funds within the year, the lower the interest rate you’ll receive based on the percentage of the term remaining.


Note that 31 days’ advance notice is required in case of withdrawing funds before maturity


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Richard

August 08, 2023

Can I invest superannuation money in a 2 year account if so what form do I fill in


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Raj Lal Finder

September 18, 2023

Hi Richard,

Thanks for contacting Finder.


Judo Bank offer a 2 year term deposit; to set one up, you must apply through their website.


Thanks

Raj


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M

July 13, 2023

I have a question regarding the interest rate columns for the Judo Bank Term Deposit. Could you please explain how the interest is calculated? For instance, do the interest rates apply on a monthly basis or are these annual rates? For example, if I look at the first three colums which are 3-month interest rate of 5.15%, 6-month interest rate 5.45%, 9-month interest rate 5,45%, does that mean I will receive these percentages of interest In each of these month?

Details

Key details

Product Name Judo Bank Term Deposit

3 month interest rate 5.15%

6 month interest rate 5.45%

9 month interest rate 5.45%

12 month interest rate 5.45%

24 month interest rate 5.35%

36 month interest rate 5.35%

48 month interest rate 5.15%

60 month interest rate 5.25%


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Alison Banney Finder

July 18, 2023

Hi, all term deposit interest rates are on a per annum (p.a.) basis.


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Macca

June 06, 2023

Hello, if opening a Term Deposit in Joint names (husband and wife) does the government guarantee $250,000.00 or $500,000.00?


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Alison Banney Finder

June 08, 2023

Hi Macca, the guarantee is per person not per account. So in this case, you’d be covered for $250,000 each (assuming you have no other deposits with this bank). Thanks, Alison.


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