Following the recent Reserve Bank of Australia cash rate announcement, Judo Bank will increase variable interest rates on its savings products by 0.25% p.a. for new and existing Savings Account customers, effective 7 October 2026.
| Balance tier | Base rate | Bonus rate | Total variable rate |
|---|---|---|---|
| $1 – $250,000 | 0.05% p.a. | 5.55% p.a. | 5.60% p.a. |
| $250,001 – $2,000,000 | 0.05% p.a. | 5.05% p.a. | 5.10% p.a. |
| $2,000,001+ | 0.05% p.a. | N/A | 0.05% p.a. |
The math ain't mathing, there isn't an Australian income tax bracket that charges over 100%, let alone 120%.
that's the financial hardship negotiatior
Ahh yes. I see that you know your Judo well
I see you know your judo well
I prefer Muay Thai Bank…
I am currently wrestling with the options; I wish there was a mixed approach
I wish there was a mixed approach
Dojo think that makes a difference?
you have to Taekwon or the other I guess
In the past week, Origami bank has folded, Sumo bank has gone belly up and Bonsai bank announced plans to cut some of its branches.
Last week it was announced that Karaoke bank is up for sale and will likely go for a song while shares in Kamikaze bank were suspended after they nosedived.
Samurai bank is soldiering on following sharp cutbacks, Ninja bank is reported to have taken a hit, but it remains in the black.
Furthermore 500 staff at Karate bank got the chop and analysts report there is something fishy going on at Sushi bank where it’s feared staff may get a raw deal.
Now add "Judo Bank got completely thrown by the market, but they're still grappling with their debt."
nice, I wonder who’s gonna have the highest rate
i find that i'd rather not deal with hoops, cause missing one month leads to straight up missing the extra % you'd be getting by switching banks. macq has been okay for me even with 5% given i can just leave it alone.
Judo’s hoops are not like other hoops though. Just need to deposit $300 within the month. I have an automatic transfer set to go in on the 1st and back out on the 2nd.
ah yea thats super cool actually. my prev account with ING needed balance increase so i kinda assumed it's the same. just noticed that this is just a deposit and not increase.
might just move to this then. thank you!
But they're not on Osko so if you realise your month deposit didn't happen on the 29th, then your not going to get your bonus… don't ask me how I know.
can you schedule transfer out? i couldn't find it.
yeah I just manually transfer 300 on the 1st and take out 300 the next day
@Banana94 So you don't need to grow your balance by the end of the month?
BOQ very easy to automate the hoops. 5 mins a month worth an extra 250
I agree, I actually have both Judo and Macq.
Macq is going up to 5.25% in 2 weeks.
Have they got instant transfers now?
not yet unfortunately, but hoping so in the future cause it's not a bad rate and minimal hoops
Can be automated in less than three minutes the first time you open an account.
Kinda is though
This or ING Direct Savings Maximiser? Only hurdle with ING is the constraint of 5 transactions.
Plus;
- $1000 per month must hit another ING account (doesn't have to remain)
- Savings Maximiser month end balance must be higher than at month start
didn't Judo Bank hold interest increase for last hike? massive red flag
The red flag is the share price. I would not keep more than $250K with them. Over two days earlier in year they lost 50% of their share price due to bad management.
• share price $0.92. 52-Week Range: A$0.820 – A$2.070 AUD
• 1-Year Return: Down ~46%
I have 2 accounts and I have been sending $300 from each one to the other on the first business day of every month. Other than having no hoops at all, it doesn't get any easier than that.
The app also sends you a reminder towards the end of the month if you haven't met the hoop.
I don't need to grow the balance right? So if I take out 10k but deposit $300 I still get the bonus?
Yes.
Glitchy setup process
This is the first time ME Bank hasn't moved with the rates, wondering if it's worth shifting to Judo?
ME Bank and BofQ do not announce in advance.
So when should I pull the trigger and move ?
@6079 Smith: Yes, and BofQ as well. But so disrespectful to their customers to make it difficult to plan. Surely they knew the increase was coming, and then it was 9 days after the actual rise. It makes you think they aren't very good at strategy/planning.
Does the bonus interest apply on the same month as meeting the eligibility criteria, or the following?
I know some banks (e.g. Member's Equity with HomeMe) do the following month, and some of us may get caught out losing interest if transferring a lump sum in the first month.
Couldn't find Judo being explicit with the timing of the bonus interest being applied. Going to presume it is same month…
Excellent. Extra 50c in interest for me