Compare Rural Bank savings accounts
Farmers can look forward to multiple benefits when banking with Rural Bank.
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Must read: Important information
On March 14, 2025, Rural Bank has transitioned to Bendigo Bank. You can find all the Bendigo Bank products here.
The Rural Bank began operations as the Elders Rural Bank, with the aim of delivering specialist baking services to the rural regions of Australia. It changed its name to its current form in 2009, and it 2010 it because a wholly owned subsidiary of the Bendigo and Adelaide Bank Group.
Who is Rural Bank?
Rural Bank specialises in providing banking products and services to farmers and the general population alike. Farmers can choose from various loans to help grow their farm businesses, and they can also open day to day banking, savings, and investment accounts. If you’re not a farmer, you can still look forward to being an account holder.
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What are the pros and cons of banking with Rural Bank?
Pros
- Special offerings for farmers. Rural Bank has in place accounts like the seasonal account and the farm management deposit account meant especially for farmers, giving them easy access to their money as well as the ability to earn interest.
- Multiple offerings for all. This bank does not limit its offerings to farmers. Other individuals and businesses can also look forward to opening different kinds of everyday and savings accounts with this bank. They can open term deposits as well.
- Multiple ways to bank. Rural Bank gives its customers the ability to bank in various ways. The 'banking of farm' facility brings tailored banking solutions and personalised service to your doorstep. You can bank in person by visiting any Elders Rural Services or Bendigo Bank branch; and you can also bank online and over the phone.
Cons
- Lack of branches. Rural Bank has heavier online presence than a physical one.
How do I apply for Rural Bank savings account?
Depending on the account you wish to open, you can apply online, you can initiate the process over the phone, or you can send your application via post, but make sure you meet the following eligibility criteria.
Eligibility
- You’re a resident of Australia
- You meet account specific age requirements
- You meet account specific minimum opening balance requirements
Documentation
As part of the application process, prepare to part with the following information.
- Your complete name, residential address, phone number, email address, and tax file number
- Original or certified copies of required identification documents
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