Dear Ms Wise: My partner wants to invest $200,000 in a self-managed superannuation fund term deposit with Judo Bank at 4.35 per cent for six months. This beats the 2.75 per cent we are getting. Judo states
it is covered by the government-backed financial claims scheme. I have some concerns that I’ve never heard of this bank, it’s not one of the big four and it’s online only. Is it safe? – Hamish

A term deposit rate of 4.35 per cent is competitive, says Sally Tindall, data insights director at comparison website Canstar.