BankingBank offer
Judo Bank
Posted 5 days ago
17
Judo Bank Personal Savings: 5.60% p.a. on balances up to $250,000 (requires $300 monthly deposit)
No end dateNo end date in the post — check with the merchant
Judo Bank has raised its variable savings rate to 5.60% p.a. for both new and existing customers. The high interest applies to the first $250,000 of your balance. To qualify for this rate, you must make a minimum deposit of $300 each month. There is no specified end date for this offer.
Our readers say
Source: OzBargain101045 comments
Original title
Personal Savings Account 5.60% p.a. Interest on Balance up to $250,000 ($300 Monthly Deposit Required)
Quick take
Good for
- Users with significant idle cash ($250k+) seeking competitive returns
- Individuals who can consistently meet the small monthly deposit requirement
Not for
- Those unable to commit to monthly deposits
- Risk-averse savers who prefer fixed rates
Why it's worth a look
- The 5.60% rate is highly competitive compared to major banks
- The $250,000 cap is unusually generous, allowing large sums to earn the top rate without splitting accounts across multiple banks
Watch out
- Verify if the $300 deposit must be external transfers or if internal movements count
- Monitor future RBA announcements as this is a variable rate product
Skipdone in 15 min, easy
Worth it?
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Estimated value (incl. non-cash or conditional value)
Reward offer
- Price
- Reward offer
- Value per hour
- $0
Effort
Easyabout 15 min
Easy
NSW/VIC/QLD/WA/SA/TAS/NT/ACT only
EndsNo end dateWho can do it: Open to everyoneNo feedback yet — tell us how it went if you try it
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How to do it
- 1Open a 'Personal Savings Account' via the Judo Bank website or app.
- 2Ensure you deposit at least $300 in total during each calendar month.
- 3Keep funds in the account to earn 5.60% p.a. interest on the first $250,000.
Money-saving tip: Check the terms regarding withdrawal frequency limits, as some high-interest accounts penalize frequent access to funds.
Conditions
- Eligibility: Open to new and existing customers.
- Condition: A minimum monthly deposit of $300 is required to maintain the promotional interest rate.
- Cap: Interest applies only to the first $250,000; excess balances may earn less.
- Rate Type: Variable, meaning it can change with the RBA cash rate.
Risks
- NoteOnly available in NSW / VIC / QLD / WA / SA / TAS / NT / ACT.
- NoteNo end date given. The price or offer could end at any time.