Judo Bank vs Macquarie Bank Term Deposit
Rates and conditions verified 14 June 2026
Rates can change without notice. Last verified: 14 June 2026 (AEST). Please confirm details on the bank’s official page.
A term-deposit specialist against a big digital bank. The 12-month rates are close, so it's really about minimum deposit, loyalty perks and whether you want your term deposit alongside the rest of your banking.
At a glance
| Judo Bank Personal Term Deposit | Macquarie Bank Term Deposit | |
|---|---|---|
| Best rate (p.a.) | 5.35% (12 months) | 5.35% (12 months) |
| Minimum deposit | $1,000 | $5,000 |
Judo Bank Personal Term Deposit
Best for: savers focused purely on the term deposit, wanting a low minimum and a loyalty bump on rollover
- • Low minimum deposit
- • Loyalty bonus for repeat terms
- • Specialist focus on deposits
Macquarie Bank Term Deposit
Best for: people who already bank with Macquarie or want their term deposit in the same digital app
- • Sits alongside Macquarie's savings and transaction accounts
- • Higher minimum deposit
- • Strong digital banking experience
The verdict
The headline rates sit close together (the table has the detail), so pick on fit. Judo is the cleaner choice if the term deposit is a standalone holding: lower minimum, plus a small loyalty bonus when you roll over. Macquarie makes more sense if you already use its everyday or savings accounts and want everything under one login — the convenience of a single app can outweigh a marginal rate difference. For a one-off lump sum where rate is all that matters, compare the 12-month figures directly below.
FAQs
Can I manage a Macquarie term deposit in the same app as my savings?
Yes — that's a key draw. Macquarie term deposits sit alongside its savings and transaction accounts in one digital banking experience, which is convenient if you already bank there. Judo is a deposit specialist, so it's a separate login.
Which is better for a smaller deposit?
Judo, generally — it has the lower minimum deposit, so it's more accessible for smaller balances. Macquarie requires a larger minimum. The exact minimums are shown in the table above.
Related guides
Information verified 14 June 2026. Rates are variable and subject to change. Confirm current rates and conditions on each provider's website before applying. This is not financial advice.