Compare Rabobank savings accounts and term deposits

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

Rabobank

Operating entirely online, Rabobank 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, Rabobank is still an Australian financial institution, with balances of up to $250,000 guaranteed by the government.

Savings Account Offer

Rabobank Online Savings High Interest Savings Account

2.75 % p.a.

max rate

1.30 % p.a.

standard variable rate

Savings Account Offer

Maximum variable rate of 2.75% p.a. for 4 months, reverting to a rate of 1.30% p.a. No deposit or withdrawal conditions. Available on balances below $250,000

  • Maximum Rate: 2.75% p.a.
  • Standard Variable Rate: 1.30% p.a.
  • Introductory period: 4 months
  • Monthly fees: $0.00
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Rates last updated September 21st, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Rabobank Online Savings High Interest Savings Account
2.75%
1.30%
1.45%
$0
$0 / $0
Maximum variable rate of 2.75% p.a. for 4 months, reverting to a rate of 1.30% p.a. No deposit or withdrawal conditions. Available on balances below $250,000
Rabobank Online Savings  PremiumSaver
1.95%
0.35%
1.60%
$0
$0 / $0
Ongoing, variable 1.95% p.a. when you link to an Rabobank Online Savings High Interest Savings Account and increase your balance by $200+ each month. Available on balances up to $250,000.

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Rates last updated September 21st, 2019
$
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a. Interest Earned
Rabobank Online Savings Term Deposit
1.80%
-
1.85%
-
1.70%
1.45%

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Rates last updated September 21st, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Rabobank Online Savings Notice Saver SMSF (31 days)
1.75%
1.75%
0.00%
$0
$0 / $0
Ongoing, variable 1.75% p.a. when you link to Rabobank Online Savings HISA . Available on balances up to $250,000.
Rabobank Online Savings Notice Saver SMSF (60 days)
1.80%
1.80%
0.00%
$0
$0 / $0
Ongoing, variable 1.80% p.a. when you link to Rabobank Online Savings HISA . Available on balances up to $250,000.
Rabobank Online Savings Notice Saver SMSF (90 days)
1.90%
1.90%
0.00%
$0
$0 / $0
Ongoing, variable 1.90% p.a. when you link to Rabobank Online Savings HISA . Available on balances up to $250,000

Compare up to 4 providers

Rates last updated September 21st, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Rabobank Online Savings High Interest Savings Account (SMSF)
2.75%
1.40%
1.35%
$0
$0 / $0
Introductory rate of 2.75% p.a. for 4 months, reverting to a rate of 1.40% p.a. Available on balances below $250,000
Rabobank Online Savings SMSF PremiumSaver
1.65%
0.40%
1.25%
$0
0 / $0
Ongoing, variable 1.65% p.a. when you link to an Rabobank Online Savings High Interest Savings Account and increase your balance by $200+ each month. Available on balances up to $250,000.

Compare up to 4 providers

Rates last updated September 21st, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Rabobank Online Savings High Interest Savings Account
2.75%
1.30%
1.45%
$0
$0 / $0
Maximum variable rate of 2.75% p.a. for 4 months, reverting to a rate of 1.30% p.a. No deposit or withdrawal conditions. Available on balances below $250,000
Rabobank Online Savings  PremiumSaver
1.95%
0.35%
1.60%
$0
$0 / $0
Ongoing, variable 1.95% p.a. when you link to an Rabobank Online Savings High Interest Savings Account and increase your balance by $200+ each month. Available on balances up to $250,000.

Compare up to 4 providers

Rates last updated September 21st, 2019
$
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a. Interest Earned
Rabobank Online Savings Term Deposit
1.80%
-
1.85%
-
1.70%
1.45%

Compare up to 4 providers

Rates last updated September 21st, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Rabobank Online Savings Notice Saver SMSF (31 days)
1.75%
1.75%
0.00%
$0
$0 / $0
Ongoing, variable 1.75% p.a. when you link to Rabobank Online Savings HISA . Available on balances up to $250,000.
Rabobank Online Savings Notice Saver SMSF (60 days)
1.80%
1.80%
0.00%
$0
$0 / $0
Ongoing, variable 1.80% p.a. when you link to Rabobank Online Savings HISA . Available on balances up to $250,000.
Rabobank Online Savings Notice Saver SMSF (90 days)
1.90%
1.90%
0.00%
$0
$0 / $0
Ongoing, variable 1.90% p.a. when you link to Rabobank Online Savings HISA . Available on balances up to $250,000

Compare up to 4 providers

Rates last updated September 21st, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
UBank USaver
2019 Winner
UBank USaver
2.41%
1.35%
1.06%
$0
$0 / $0
Ongoing, variable 2.41% p.a. when you link your USaver account to a UBank Ultra transaction account and transfer at least $200 per month into either account. The linked transaction account has no monthly fees and no international fees. Bonus interest available on balances up to $200,000.
Rabobank Online Savings High Interest Savings Account
2.75%
1.30%
1.45%
$0
$0 / $0
Maximum variable rate of 2.75% p.a. for 4 months, reverting to a rate of 1.30% p.a. No deposit or withdrawal conditions. Available on balances below $250,000
AMP Saver Account
2.61%
1.65%
0.96%
$0
$0 / $0
Introductory rate of 2.61% p.a. for 4 months, reverting to a rate of 1.65% p.a. The bonus rate offer is for new AMP Saver customers only, and applies to the first $250,000 deposited.
ME Online Savings Account
2.35%
0.80%
1.55%
$0
$0 / $0
Ongoing, variable 2.35% p.a. rate when you link to a ME Everyday Transaction account and have at least one purchase with your Debit Mastercard using tap & go processed each week. Available on balances up to $250,000.
HSBC Flexi Saver Account
2.15%
0.65%
1.50%
$0
$0 / $0
Ongoing, variable 2.15% p.a. when you grow your balance by $300+ per month. Earn bonus interest even if you make withdrawals during the month. Available on balances up to $5,000,000.
Suncorp Growth Saver Account
2.05%
0.20%
1.85%
$0
$0 / $0
Ongoing, variable 2.05% p.a. when you grow your balance by at least $200 (excluding interest) and make no more than one withdrawal in the month. Available on the entire balance.
Bankwest Hero Saver
2.10%
0.01%
2.09%
$0
$0 / $0
Ongoing, variable 2.10% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
MyState Bank Bonus Saver Account
2.50%
0.80%
1.70%
$0
$0 / $0
Ongoing, variable 2.50% p.a. when you deposit at least $20 into the account each month and make five or more Visa Debit card transactions from a linked MyState transaction account.

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Awards Rabobank has earned

  • Smart Investor Blue Ribbon – Online bank of the year.
  • Smart Investor Blue Ribbon – Best term deposit.

Who is Rabobank?

Rabobank 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, Rabobank can help you meet your goal.

What's internet banking like for Rabobank?

With the Rabobank 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 Rabobank for assistance.

What about the mobile app?

Image Source: App Store
Login Page Check your balances Transfer Money
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What high interest savings accounts are offered by Rabobank?

  • Online Savings 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.
  • Online Savings Premium Saver. For Australians who need some encouragement to save, the Online Savings Premium Saver offers a bonus rate when you close the account at the end of each month with $200 more than it started with.
  • Online Savings 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 Rabobank?

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 Rabobank accounts?

Pros

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

Cons

  • Branch access. There are no physical Rabobank 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 Rabobank savings accounts?

You need to compare the accounts offered by Rabobank to make sure they suit your personal financial needs and your unique situation. If you decide one of the Rabobank accounts meets your needs, 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 Rabobank. 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 Rabobank.
  • 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 Rabobank 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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4 Responses

  1. Default Gravatar
    ElizabethMay 28, 2019

    Is a Rabobank term deposit guaranteeed by the government for the first $250,000

    • Avatarfinder Customer Care
      NikkiMay 30, 2019Staff

      Hi Elizabeth,

      Good day and thanks for your inquiry!

      According to our page and Rabo’s website, your first $250,000 is protected by the Australian Government guarantee. You may also read about other banks protected by the government guarantee on this page.

      As a friendly reminder, review the eligibility criteria and read up on the Terms and Conditions of the account before committing to the product. Feel free to reach out to the bank if you need any clarifications.

      Hope this helps!

      Best,
      Nikki

  2. Default Gravatar
    MichaelJanuary 9, 2017

    If I put money into the high-interest savings account;
    Do I need a mobile phone?
    Do I need to put in an amount each month?
    How do I pay it into the account as at the moment I have not got a Rabo account?
    Will it be linked to my personal bank account?
    Looking forward to your reply.

    Regards,
    Michael

    • Avatarfinder Customer Care
      MayJanuary 9, 2017Staff

      Hi Michael,

      Thank you for your inquiry.

      1. Do I need a mobile phone?
      Yes, you need to provide an email address and at least one mobile phone number so that RaboDirect can contact you about your account.

      2. Do I need to put in an amount each month?
      With RaboDirect High-Interest Savings Account, there is no limit or restriction on the number of monthly deposits you can make into the account.

      3. How do I pay it into the account as at the moment I have not got a Rabo account? Will it be linked to my personal bank account?
      You will need to link your Australian transaction account with the RaboDirect High-interest Savings Account in order to move your savings in and out of it. Any Australian transaction account will do.

      Cheers,
      May

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