Judo Bank increases its one-year term deposit rate to 4.25% p.a.

Judo Bank increases its one-year term deposit rate to 4.25% p.a.

Prior to Judo Bank’s move this week, Teachers Mutual Bank’s 11-month term deposit for members served as the market leader based on Savings.com.au market research, offering a rate of 4.25% p.a. with interest paid annually. To be eligible to receive the rate, customers are required to purchase a membership with Teachers Mutual Bank for $10. Requiring no membership, on Thursday Judo Bank’s one-year term deposit rate increased by 5 basis points (0.05%) across both personal and SMSF deposits to match …