Judo Bank has boosted interest rates across a range of its term deposits, going against current market trends.

Judo, one of Australia's newest banks, increased various term deposit rates by up to 8 basis points this week, including the rate of its one-year personal term deposit which now has an interest rate of 1.38% p.a.

However, Judo also cut various other rates by up to 10 basis points, such as the five year personal term deposit which fell from 1.50% p.a. to 1.40% p.a.

These changes come at a time when more than 30 different banks have slashed term deposit rates during August, some by as much as 90 basis points.

Joseph Healy is very well known in Financial Services and Banking circles both in Australia and internationally. His corporate career, spanning over 35 years, culminated in him leading Australia’s largest business bank as one of the top echelon of leaders in banking in the country.

We caught up with Joseph Healy late last year, pre-COVID, to learn about the amazing rise of Judo Bank and to see if we could gain some insight into the person who would take on this kind of challenge.

As Australia’s first SME-focused challenger bank, Judo Bank offers quality business banking services geared toward Australian-owned businesses. And in the face of the COVID-19 pandemic, the bank is doubling down on its mission to support those businesses by offering flexibility and personalized services to help them weather the storm. The institution’s focus on relationship banking sets it apart from larger institutions with an approach that forges a strong connection between the bank and its customers.