Compare RaboDirect Savings Accounts and Term Deposits

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.

Rates last updated August 20th, 2017
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
RaboDirect Business High Interest Savings Account
Introductory rate of 2.25% p.a. for 4 months, reverting to a rate of 1.70% p.a. Available on balances below $250,000
2.25% 1.70% 0.55% $0 $0 / $0 More
RaboDirect Business PremiumSaver
Ongoing, variable 1.95% 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.
1.95% 0.65% 1.30% $0 $0 / $0 More
RaboDirect PremiumSaver
Ongoing, variable 2.50% p.a. when you link to an RaboDirect High Interest Savings Account and increase your balance by $200+ each month. Available on balances up to $250,000.
2.50% 0.90% 1.60% $0 $0 / $0 More
RaboDirect High Interest Savings Account (SMSF & Trust)
Introductory rate of 2.70% p.a. for 4 months, reverting to a rate of 1.90% p.a. Available on balances below $250,000
2.70% 1.90% 0.80% $0 $0 / $0 More
RaboDirect High Interest Savings Account
Introductory rate of 3.05% p.a. for 4 months, reverting to a rate of 1.90% p.a. Available on balances below $250,000
3.05% 1.90% 1.15% $0 $0 / $1 More

Rates last updated August 20th, 2017
$
Name Product 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 Business Term Deposit
2.30%
-
2.55%
2.55%
2.90%
3.00%
3.05%
3.30%
$1,000
RaboDirect Term Deposit (SMSF & Trusts)
2.30%
-
2.55%
2.55%
2.90%
3.00%
3.05%
3.30%
$1,000
RaboDirect Term Deposit
2.30%
-
2.55%
2.55%
2.90%
3.00%
3.05%
3.30%
$1,000

Compare up to 4 providers

Rates last updated August 20th, 2017
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit
RaboDirect Notice Saver (31 days)
Ongoing, variable 2.60% p.a. when you link to RaboDirect HISA account and give 31 days notice to access funds. Available on balances up to $250,000
2.60% 2.60% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver (60 days)
Ongoing, variable 2.65% p.a. when you link to RaboDirect HISA account. Available on balances up to $250,000
2.65% 2.65% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver (90 days)
Ongoing, variable 2.75% p.a. when you link to RaboDirect HISA account and give 90 days notice to access funds. Available on balances up to $250,000
2.75% 2.75% 0.00% $0 $0 / $0 More
RaboDirect Business Notice Saver (31 days)
Ongoing, variable 2.10% p.a. until 31 days notice is given to access the account. Available on balances up to $250,000.
2.10% 2.10% 0.00% $0 $0 / $0 More
RaboDirect Business Notice Saver (60 days)
Ongoing, variable 2.15% p.a. until 60 days notice is given to access the account. Available on balances up to $250,000.
2.15% 2.15% 0.00% $0 $0 / $0 More
RaboDirect Business Notice Saver (90 days)
Ongoing, variable 2.25% p.a. until 90 days notice is given to access the account. Available on balances up to $250,000.
2.25% 2.25% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver 31 days (SMSF & Trusts)
Ongoing, variable 2.25% p.a. when you link to RaboDirect HISA . Available on balances up to $250,000.
2.25% 2.25% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver 60 days (SMSF & Trusts)
Ongoing, variable 2.30% p.a. when you link to RaboDirect HISA . Available on balances up to $250,000.
2.30% 2.30% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver 90 days (SMSF & Trusts)
Ongoing, variable 2.40% p.a. when you link to RaboDirect HISA . Available on balances up to $250,000
2.40% 2.40% 0.00% $0 $0 / $0 More
Rates last updated August 20th, 2017
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
RaboDirect SMSF & Trust PremiumSaver
Ongoing, variable 2.15% p.a. when you link to an RaboDirect High Interest Savings Account and increase your balance by $200+ each month. Available on balances up to $250,000.
2.15% 0.90% 1.25% $0 0 / $0 More
Rates last updated August 20th, 2017
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
RaboDirect Business High Interest Savings Account
Introductory rate of 2.25% p.a. for 4 months, reverting to a rate of 1.70% p.a. Available on balances below $250,000
2.25% 1.70% 0.55% $0 $0 / $0 More
RaboDirect Business PremiumSaver
Ongoing, variable 1.95% 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.
1.95% 0.65% 1.30% $0 $0 / $0 More
RaboDirect PremiumSaver
Ongoing, variable 2.50% p.a. when you link to an RaboDirect High Interest Savings Account and increase your balance by $200+ each month. Available on balances up to $250,000.
2.50% 0.90% 1.60% $0 $0 / $0 More
RaboDirect High Interest Savings Account (SMSF & Trust)
Introductory rate of 2.70% p.a. for 4 months, reverting to a rate of 1.90% p.a. Available on balances below $250,000
2.70% 1.90% 0.80% $0 $0 / $0 More
RaboDirect High Interest Savings Account
Introductory rate of 3.05% p.a. for 4 months, reverting to a rate of 1.90% p.a. Available on balances below $250,000
3.05% 1.90% 1.15% $0 $0 / $1 More

Rates last updated August 20th, 2017
$
Name Product 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 Business Term Deposit
2.30%
-
2.55%
2.55%
2.90%
3.00%
3.05%
3.30%
$1,000
RaboDirect Term Deposit (SMSF & Trusts)
2.30%
-
2.55%
2.55%
2.90%
3.00%
3.05%
3.30%
$1,000
RaboDirect Term Deposit
2.30%
-
2.55%
2.55%
2.90%
3.00%
3.05%
3.30%
$1,000

Compare up to 4 providers

Rates last updated August 20th, 2017
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit
RaboDirect Notice Saver (31 days)
Ongoing, variable 2.60% p.a. when you link to RaboDirect HISA account and give 31 days notice to access funds. Available on balances up to $250,000
2.60% 2.60% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver (60 days)
Ongoing, variable 2.65% p.a. when you link to RaboDirect HISA account. Available on balances up to $250,000
2.65% 2.65% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver (90 days)
Ongoing, variable 2.75% p.a. when you link to RaboDirect HISA account and give 90 days notice to access funds. Available on balances up to $250,000
2.75% 2.75% 0.00% $0 $0 / $0 More
RaboDirect Business Notice Saver (31 days)
Ongoing, variable 2.10% p.a. until 31 days notice is given to access the account. Available on balances up to $250,000.
2.10% 2.10% 0.00% $0 $0 / $0 More
RaboDirect Business Notice Saver (60 days)
Ongoing, variable 2.15% p.a. until 60 days notice is given to access the account. Available on balances up to $250,000.
2.15% 2.15% 0.00% $0 $0 / $0 More
RaboDirect Business Notice Saver (90 days)
Ongoing, variable 2.25% p.a. until 90 days notice is given to access the account. Available on balances up to $250,000.
2.25% 2.25% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver 31 days (SMSF & Trusts)
Ongoing, variable 2.25% p.a. when you link to RaboDirect HISA . Available on balances up to $250,000.
2.25% 2.25% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver 60 days (SMSF & Trusts)
Ongoing, variable 2.30% p.a. when you link to RaboDirect HISA . Available on balances up to $250,000.
2.30% 2.30% 0.00% $0 $0 / $0 More
RaboDirect Notice Saver 90 days (SMSF & Trusts)
Ongoing, variable 2.40% p.a. when you link to RaboDirect HISA . Available on balances up to $250,000
2.40% 2.40% 0.00% $0 $0 / $0 More
Rates last updated August 20th, 2017
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
Bankwest Hero Saver
Ongoing, variable 2.65% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
2.65% 0.01% 2.64% $0 $0 / $0 Go to site More
ME Online Savings Account
Ongoing, variable 2.95% p.a. rate when you link to a ME Everyday Transaction account and make a weekly purchase with your Debit Mastercard using tap & go. Available on balances up to $250,000.
2.95% 1.30% 1.65% $0 $0 / $0 Go to site More
ANZ Progress Saver
Ongoing, variable 1.81% p.a. when you deposit $10+ each month and make no withdrawals. Available on the entire balance.
1.81% 0.01% 1.80% $0 $10 / $10 Go to site More
HSBC Serious Saver
Introductory rate of 3.00% p.a. for 4 months, reverting to a rate of 1.60% p.a. Available on balances below $1,000,000.
3.00% 1.60% 1.40% $0 $0 / $0 Go to site More
ANZ Online Saver
Introductory rate of 2.55% p.a. for 3 months, reverting to 1.00% p.a. Available on the entire balance.
2.55% 1.00% 1.55% $0 $0 / $0 Go to site More
Westpac Reward Saver
Ongoing, variable 1.75% p.a. when you deposit at least $50 and make no withdrawals each month. Available on the entire balance.
1.75% 0.01% 1.74% $0 $0 / $0 Go to site More
Bank of Melbourne Incentive Saver
Ongoing, variable 1.75% p.a. when you make at least one deposit and no withdrawals each month. Available on the entire balance.
1.75% 0.01% 1.74% $0 $1 / $1 Go to site More
Westpac eSaver
Introductory rate of 2.51% p.a. for 5 months, reverting to a rate of 1.00% p.a. Available on the entire balance.
2.51% 1.00% 1.51% $0 $0 / $0 Go to site More
BankSA Incentive Saver Account
Ongoing, variable 1.75% p.a. when you make at least one deposit each month and no withdrawals. Available on the entire balance.
1.75% 0.01% 1.74% $0 $0 / $0 Go to site More
Citibank Online Saver
Introductory rate of 2.85% p.a. for 4 months, reverting to a rate of 1.70% p.a. Available on balances below $500,000.
2.85% 1.70% 1.15% $0 $0 / $0 Go to site 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
Back to top

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.

Back to top

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.
Back to top

How do I apply for RaboDirect savings accounts?

You need to compare the accounts offered by RaboDirect to make sure they suit your personal financial needs and your unique situation. If you decide one of the  RaboDirect 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 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.

Back to top

Read more on this topic

Savings Account Offers

Learn about our information service
ME Online Savings Account

Maximum Variable Rate

2.95

Standard Variable Rate

1.30
ANZ Progress Saver

Maximum Variable Rate

1.81

Standard Variable Rate

0.01
Citibank Online Saver

Maximum Variable Rate

2.85

Standard Variable Rate

1.70
Bankwest Hero Saver

Maximum Variable Rate

2.65

Standard Variable Rate

0.01

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

2 Responses

  1. 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

    • Staff
      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

Ask a question
feedback