Competitive interest rates Min. deposit is $1000. Choice of payment terms, Paid @Maturity, Paid Annually, Paid Monthly, 3 Months from 3.6%-4.9% p.a
Example: 5-year term deposit (interest paid monthly) 4.8% p.a.
3.6%-4.9% p.a. Interest on Your Term Deposit from 3 Months to 5 Years (Minimum Deposit $1,000) @ Judobank
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People have locked in for less.May suit some individuals. Maximum investment of $1 million. No Hoops. 4.35% is not 4.8%
People have locked in for less
Yep, and now they're losing because of it.
May suit some individuals.
Well it'll suit Judo bank. Not sure why an individual would lock in a term deposit for under a year, when you can get more and not have your money locked in. What individual might this suit?
If Dr Lowe is to be believed, there's at least 2 more interest rate hikes in the near future. Which will eventually flow onto savings accounts & term deposits.
They will most likely flow on to short term rates yes, but possibly not long term deposit rates. Most banks are lowering 5 year term deposit rates now with the presumption of rate cuts by the end of this or some time next year. Its a gamble either way.
😄 " If Dr Lowe is to be believed, there's at least 2 more interest rate hikes in the near future. " 😄 Oh yes given Dr Lowe's history on predicting interest rates so far he's been impeccable. 😂😂😂
@bkksam: Better then Judo's term deposit rates.
Most people well versed in economics didn't predict massive inflation hikes, which resulted in higher interest rates. Most people didn't predict Russia invading Ukraine directly responsible for nearly doubling in liquid energy prices, leading to substantial rise in inflation. Maybe you're lucky enough to have a crystal ball.
But since Dr Lowe is chairman of the RBA which sets official interest rates, he's more knowledgeable then you or I about what might happen in the future.
@M00Cow: "But since Dr Lowe is chairman of the RBA which sets official interest rates, he's more knowledgeable then you or I about what might happen in the future."
Lowe admits ‘embarrassing’ error on 2024 rate riseReserve Bank of Australia governor Philip Lowe has admitted the central bank’s pandemic guidance that interest rates would not rise until at least 2024 was an “embarrassing” error and it “should have done better” . Excellent track record….NOT. I don't need or use a crystal ball.🤣
But since Dr Lowe is chairman of the RBA which sets official interest rates, he's more knowledgeable then you or I about what might happen in the future.
🤣🤣🤣
@Trishool: There's no doubt he's more knowledgeable than anyone on this site, despite his terrible and unnecessary comment which may have misled some people. That doesn't mean he's still the best person for that job, nor does it mean that the review of the RB wasn't overdue.
😄 " If Dr Lowe is to be believed, there's at least 2 more interest rate hikes in the near future. " 😄 Oh yes given Dr Lowe's history on predicting interest rates so far he's been impeccable. 😂😂😂
What's your amateur prediction then?
@Igaf: My amateur prediction is that the longer term rates dont stay high for long like this AMP deal in October 2022.. 4.95% 5 Year (Interest Paid Annually) @ AMP Bank https://www.ozbargain.com.au/node/732869 which is now currently back to 4.0% .They expose the banks to higher risk. The reason I posted this deal was it offers a good 5 year rate for someone who wants monthly interest payments. It could go higher,but you coul loose money waiting.It,s also good to have a few different 250k investments ticking over ..IMO.
@bkksam: I have no problem with the deal although when I was looking at FT I noticed too many negative comments about Judobank (and another mob recommended by ratings sites -which take no interest in service etc) for my liking.
Lowe was verballed to some extent but I think the sentiment you thought so funny regarding a couple more rises in the next 3 months is far more likely than not.
do we get free judo lessons if we sign up??
Not financial advice, but wouldn't shares be better for 5 years?
In general yes. But cash deposits are “risk free” rates of return.
10 years is a typical benchmark to eliminate that risk, but even 5 years the risk is lower than short term
Still a risk you might need to ride out a recession, but the longer you're saving the less that risk matters
Only if you're happy to risk a negative balance at the end, versus guaranteed positive balance. If the money is non-essential, sure buy shares and hope for the best. You may well be much better off, who knows? But if you know you're need X dollars in Y years a term deposit may help you sleep better at night.
So long as you don't actually invest in Judo Bank. 12mths ago share price was $2, now its $1.44
What has that got to do with the interest rates they offer ? Australian Government Guarantee: deposits are protected up to a limit of $250,000 for each account holder.
What are you on about? I was responding to the comment above
but wouldn't shares be better for 5 years?
I was responding to your Negative comment "So long as you don't actually invest in Judo Bank. 12mths ago share price was $2, now its $1.44" you do seem rather triggerd with my post…😄
@M00Cow: Edited.
@bkksam: Ask me in two month, three months, four months…ubank will be higher and no lockin
Highly likely imo.
What's wrong with this OzB reply system?
Used this bank for few years but wouldn't recommend. Their customers service near 0 existence. Tried to call their land line few times, never get someone pick the call.
I see you know your judo well.
We opened FD few months ago and hates the online experience.
After log-in, tried to navigate thru their page is a pain! 9 out of 10 times end up failure. Thats for FD which we may check once a month max.
Understand they are mainly for businesses.
The only thing offered to individuals is FD.
I'm surprised that the yield curve is so flat, when more rate rises are expected.
most other banks aren't even going above 4.5% for 1mth-5yrs. But I'm not sure why you'd lock your money away when you can currently do better with online savings accounts.
Sign of times to come.
As Penny W. whispers to sleepy Joe: Please bring in the nukes, I will keep it a secret…
Short term meh
1 March uBank is offering 4.35%, just need to pop $200/mth in. But.you.can withdrawal that.
With predictions from Mr Interest rate won't rise, that in fact they're very likely too, I don't aee why you'd lock in your money with these guys.
https://www.judo.bank/personal-term-deposit
3 Months 3.70% p.a.
6 Months 4.15% p.a.
9 Months 4.20% p.a.
1 Year 4.45% p.a.
2 Years 4.75% p.a.
3 Years 4.60% p.a.
4 Years 4.70% p.a.
5 Years 4.90% p.a.