Judo Bank raises savings rates to 5.60 percent per annum

Judo Bank has announced a significant boost to its savings offerings, increasing interest rates on its Personal Savings Account by 0.25% per annum. Effective 7 October 2026, this adjustment follows the Reserve Bank of Australia’s recent decision to lift the official cash rate to 4.60%. Consequently, customers can now access a total variable rate of up to 5.60% p.a. on balances up to $250,000. This update applies automatically to both new and existing Judo Bank savings customers, requiring no manual intervention. To qualify for the competitive 5.55% p.a. bonus rate, account holders simply need to deposit at least $300 monthly. Notably, this bonus is ongoing rather than an introductory promotion, featuring no withdrawal penalties or restrictive account-keeping fees. This development reflects broader trends within the Australian banking sector, as institutions respond to the evolving monetary policy environment. By prioritizing straightforward, high-yield savings products, Judo Bank reinforces its commitment to supporting customer wealth accumulation in a rising rate climate. For savers, the move highlights the importance of monitoring rate adjustments across the industry to ensure optimal returns on cash holdings during periods of economic volatility and central bank policy shifts. --- 📰 Read the full press release 🌐 Visit https://www.judo.bank