Compare RaboDirect Savings Accounts and Term Deposits

Information verified correct on December 10th, 2016

With a number of distinct savings accounts to choose from, RaboDirect takes your savings seriously.

Operating entirely online, RaboDirect is a part of the Dutch Rabobank Group. Founded in 1898, they are now one of the world’s largest financial institutions with over 1,000 branches in more than 40 countries. Despite the worldwide connection, RaboDirect is still an Australian financial institution, with balances of up to $250,000 guaranteed by the government.

RaboDirect High Interest Savings Account

RaboDirect Savings Account Offer

With $0 account keeping fee, earn a high interest rate with no minimum balance.

  • Maximum Rate: 3.05% p.a.
  • Standard Variable Rate: 2.00% p.a.
  • Bonus Rate: 1.05% p.a.
  • Monthly Account Fees: $0
  • Minimum Balance: $0
  • Minimum Deposit: $0
Rates last updated December 10th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
RaboDirect High Interest Savings Account
Enjoy a competitive variable rate on every dollar with no fees and no minimum balance.
3.05% 2.00% 1.05% $0 $0 / $0 Open More
RaboDirect High Interest Savings Account Trust
Introductory rate of 2.70% p.a. for 4 months, reverting to a rate of 2.00% p.a. Available on balances up to $250,000.
2.70% 2.00% 0.70% $0 $0 / $0 Open More
RaboDirect PremiumSaver
Ongoing, variable 2.55% p.a. when you link to an RaboDirect High Interest Savings Account and deposit $200+ each month. Available on balances up to $250,000.
2.55% 0.90% 1.65% $0 0 / 0 Open More
RaboDirect Business High Interest Savings Account
Introductory rate of 2.25% p.a for 4 months, reverting to a rate of 1.80% p.a. Available on balances below $250,000
2.25% 1.80% 0.45% $0 $0 / $0 Open More
RaboDirect Business PremiumSaver
Ongoing, variable 2.00% p.a. when you link to a RaboDirect everyday business bank account and deposit $2,000+ each month. Available on balances up to $250,000.
2.00% 0.65% 1.35% $0 $0 / $0 Open More
Rates last updated December 10th, 2016
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
RaboDirect Term Deposit
RaboDirect Term Deposit
2.40% - 2.60% 2.70% 2.90% 3.00% 3.05% 3.30% $1,000 Open More
RaboDirect Business Term Deposit
RaboDirect Business Term Deposit
2.40% - 2.60% 2.70% 2.90% 3.00% 3.05% 3.30% $1,000 Open More
Rates last updated December 10th, 2016
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit
RaboDirect Notice Saver
Ongoing, variable 2.60% p.a. when you link to RaboDirect HISA account. Available on balances up to $250,000
2.60% 2.60% 0.00% $0 $0 / $0 Open More
Rates last updated December 10th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
RaboDirect SMSF (High Interest Savings Account)
Introductory rate of 2.70% p.a. for 4 months, reverting to a rate of 2.00% p.a. Available on balances below $250,000.
2.70% 2.00% 0.70% $0 $0 / $1 Open More
Rates last updated December 10th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
RaboDirect High Interest Savings Account
Enjoy a competitive variable rate on every dollar with no fees and no minimum balance.
3.05% 2.00% 1.05% $0 $0 / $0 Open More
RaboDirect High Interest Savings Account Trust
Introductory rate of 2.70% p.a. for 4 months, reverting to a rate of 2.00% p.a. Available on balances up to $250,000.
2.70% 2.00% 0.70% $0 $0 / $0 Open More
RaboDirect PremiumSaver
Ongoing, variable 2.55% p.a. when you link to an RaboDirect High Interest Savings Account and deposit $200+ each month. Available on balances up to $250,000.
2.55% 0.90% 1.65% $0 0 / 0 Open More
RaboDirect Business High Interest Savings Account
Introductory rate of 2.25% p.a for 4 months, reverting to a rate of 1.80% p.a. Available on balances below $250,000
2.25% 1.80% 0.45% $0 $0 / $0 Open More
RaboDirect Business PremiumSaver
Ongoing, variable 2.00% p.a. when you link to a RaboDirect everyday business bank account and deposit $2,000+ each month. Available on balances up to $250,000.
2.00% 0.65% 1.35% $0 $0 / $0 Open More
Rates last updated December 10th, 2016
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
RaboDirect Term Deposit
RaboDirect Term Deposit
2.40% - 2.60% 2.70% 2.90% 3.00% 3.05% 3.30% $1,000 Open More
RaboDirect Business Term Deposit
RaboDirect Business Term Deposit
2.40% - 2.60% 2.70% 2.90% 3.00% 3.05% 3.30% $1,000 Open More
Rates last updated December 10th, 2016
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit
RaboDirect Notice Saver
Ongoing, variable 2.60% p.a. when you link to RaboDirect HISA account. Available on balances up to $250,000
2.60% 2.60% 0.00% $0 $0 / $0 Open More
Rates last updated December 10th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
RaboDirect SMSF (High Interest Savings Account)
Introductory rate of 2.70% p.a. for 4 months, reverting to a rate of 2.00% p.a. Available on balances below $250,000.
2.70% 2.00% 0.70% $0 $0 / $1 Open More
Awards the RaboDirect has earned
  • Smart Investor Blue Ribbon – Online bank of the year.
  • Smart Investor Blue Ribbon – Best term deposit.

Who is RaboDirect?

RaboDirect accounts focus on helping Australians grow their wealth through a number of different types of savings products. Whether you are passively trying to save for a special expense, or have a big expenditure in the near future, RaboDirect can help you meet your goal.

What’s internet banking like for RaboDirect?

With the RaboDirect Internet Banking platform you can view details surrounding account balances and transaction histories for the last 18 months. You can use this platform to make payments to your linked account. The website uses the latest in technology to keep all transmitted data safe.

To access Internet Banking on your desktop, you'll need to your DigiPass.

Notable features include:
  • Extra layer of security using your DigiPass
  • Transfer funds to your linked bank accounts
  • Transfers can take up to 3 business days

Mobile banking

To set up the app you need login through your Digipass. After you've initially set up then you can just use your 5 digit pin to access mobile banking for future use.

  • Can't set up the app on your new phone? For security reasons, your logins may be blocked for any additional, new phones. Please call RaboDirect for assistance.

What about the mobile app?

Image Source: App Store
Login pageAccount balanceTransfer to your linked account
loginrabodirectacctrabodirecttransrabo
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What high interest savings accounts are offered by RaboDirect?

  • High Interest Savings Account. Boost your savings for four months with an introductory bonus interest rate. Once that period ends you will still be earning a competitive rate with this fee free account.
  • Premium Saver. For Australians who need some encouragement to save, the Premium Saver offers a bonus rate when you close the account at the end of each month with $200 more than it started with.
  • Notice Saver. This account gives you pause to spend your savings by making you have to give notice before you can make a withdrawal. There are three separate periods you can choose; 31 days, 60 days or a 90 day notice before you can take cash out of your savings account.

What term deposits are offered by RaboDirect?

For as little as $1,000 you can invest in a term deposit for one month or up to five years. There are no fees charged for this competitive rate savings option, plus you can get a bonus rate if you choose to reinvest at the end of the terms.

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Any pros and cons to RaboDirect accounts?

Pros

  • Variety. RaboDirect’s savings accounts are designed to meet various saving styles.
  • No fees. You are not charged any fees when you choose to save with RaboDirect.
  • Bonus rates. You have the opportunity to boost the already competitive rates when you are able to meet certain conditions.
  • Linked account. With RaboDirect you can link your transaction account from another bank to your savings.

Cons

  • Average customer service. Rabodirect aren’t willing to be flexible with their loyal customers.
  • Branch access. There are no physical RaboDirect branches for you to visit. All banking is done online.
  • Conditions. You have to meet specific conditions in order to receive the bonus interest on the savings accounts.
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How do I apply for RaboDirect savings accounts?

With RaboDirect, the application process is completed entirely online. Once completed and your identity verified, you will be sent information regarding your new account via e-mail.

  • Eligibility. The age of the account holder will vary by account, but you will need to be at least 16 years of age to get started with RaboDirect. You will also have to show proof that you are an Australian resident with a residential address and that you have a bank account in Australia that is in your name.
  • High interest savings account. Regardless of the product you wish to apply for, all applicants must first open a high interest savings account with RaboDirect.
  • Linked accounts. In order to transfer money in and out of your savings you will need to provide information about an Australian bank account that can be linked to your RaboDirect account.

There are a number of features to consider when deciding on the best account to save your money in. In order to ensure that you are getting the most from your savings you should be comparing accounts offered by a number of banks before deciding on one.

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Read more on this topic

Savings Account Offers

Learn about our information service
ME Online Savings Account

Maximum Variable Rate

3.05%

Standard Variable Rate

1.30
Citibank Online Saver

Maximum Variable Rate

3.00%

Standard Variable Rate

1.70
Bankwest Hero Saver

Maximum Variable Rate

2.65%

Standard Variable Rate

0.01
RaboDirect High Interest Savings Account

Maximum Variable Rate

3.05%

Standard Variable Rate

2.00

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