Judo Bank is an online challenger bank that offers lending solutions for Australian businesses. It currently offers a range of financing options for businesses, with its products enabled by new technology and backed by traditional relationship banking. This guide will outline the products and services Judo Bank offers, the features and interest rates nd charges of those products, and how to decide if Judo Bank is right for you.
The Judo Bank 12-month term deposit has offered one of the highest rates in the market consistently. Currently you can earn 5.1% on a 12-month term with this account. You can open this term deposit with a low minimum balance of just $1000, and there's also a 0.10% p.a. loyalty bonus available if you roll over your term.
Full list of 2024 winnersJudo Bank is a new challenger bank that specialises in business lending for small to medium sized local businesses. Judo Bank has a full Australian Deposit-Taking Institution (ADI) license, so deposits up to $250,000 with Judo are guaranteed by the Australian government.
While it's a technology-led bank, Judo also has a focus on offering traditional relationship banking and aims to deliver its products with "certainty and speed".
Judo Bank offers a range of business finance solutions. It currently only offers the one personal deposit product, however it does plan to launch an SMSF and business term deposit in the future, too.
6 ways to get the best term deposit rate
The Judo Bank term deposit is for personal customers with deposits of $1000 or more. It offers market-leading fixed interest rates on term lengths from six months to five years at a time, with a 0.10% loyalty bonus if you roll over your maturing term into a new one.
Judo Bank has been granted a full banking licence by industry regulator APRA. This means Judo is approved to hold consumer and business deposits, and deposits up to $250,000 per customer are protected under the Australian Government Guarantee Scheme.
When you apply for a product such as a loan with Judo Capital, you will have a dedicated relationship manager that you can easily contact whenever you need to.
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Can you give me details of banks that offer a cash bonus for signing up?
Hi Ben,
These offers change frequently, but here is our current list:
https://www.finder.com.au/cashback
Hope this helps!