Rabobank High Interest Savings Account

Kickstart your savings with a competitive, introductory rate of 1.35% p.a. for 4 months.

Take advantage of a competitive variable interest rate of 1.35% p.a. available on balances up to $250,000 on your first Rabobank High Interest Savings Account. There's no monthly deposit conditions, and you'll still be eligible for interest even when you make withdrawals.

1.35% p.a.

Maximum variable rate

0.25%p.a.

Base interest rate

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Details

Product NameRabobank High Interest Savings Account
Maximum Variable Rate1.35% p.a.
Standard Variable Rate0.25% p.a.
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age16

Review by


Alison Banney is the banking and investments editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This savings account has one of the highest variable rates in the market at 1.35%. You’ll get this rate for the first 4 months after opening the account, and there are no deposit conditions or withdrawal restrictions to meet to earn this bonus rate. However, this interest rate is only available on your first account so if you’ve already had a Rabobank High Interest Savings Account in the past you won’t be eligible for the bonus interest again.

Once the 4 month introductory period ends you’ll get the standard variable rate of 0.25%. This ongoing rate may seem low compared to other savings accounts in the market, but there are no conditions to meet to get it. In comparison to the standard base rates offered by other accounts it’s actually quite competitive.

If you’re comfortable committing to a monthly deposit condition you’ll be able to earn a higher ongoing bonus rate elsewhere. However, this account could be suited to you if you’re looking for a flexible account that still pays a decent interest rate without requiring you to regularly deposit money. Another benefit of this savings account is that you can link any Australian transaction account to it to move your money back and forth. So you don’t need to open a new transaction account with Rabobank, you can simply use the one you’ve already got.

Key features

Earn 1.35% p.a. for the first 4 months

When you open your first Rabobank High Interest Savings account, you will receive an additional 1.1% p.a. on top of the standard rate bringing the maximum variable rate to a competitive 1.35% p.a. for the first 4 months. This bonus rate is applicable to balances up to $250,000 and valid for the first 4 months. After the 4 month period ends, the rate reverts back to the standard rate.

Standard interest rate of 0.25% p.a.

This is the ongoing, standard interest rate that you'll earn after the introductory four-month period is over. There are no conditions to meet to earn this rate, and all balances up to $250,000 will earn this rate.


How to apply

Applications for the Rabobank High Interest Savings Account are accepted online. When you begin the application, you will be asked if you meet certain eligibility requirements.

Eligibility

These include:

  • Your age. Applicants must be at least 16 years old.
  • Your address. You will need to provide a residential address inside of Australia.

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155 Comments

    Default Gravatar
    Annette
    November 10, 2021

    My husband and I have both had individual accounts. Can we open a joint account to receive the 1.35% interest rate?

      Avatarfinder Customer Care
      Alison
      November 18, 2021

      Hi Annette,

      I’m afraid that if you and your husband have already opened a Rabobank High Interest Savings Account, you won’t be able to open a new account again, even if it is opened jointly.

      If you want to explore other options, you can check our list of high interest savings accounts. Be sure to read through the terms and conditions of your chosen bank account.

      Regards,
      Alison

    Default Gravatar
    John
    October 25, 2021

    I am in Townsville do you have a branch here

      Avatarfinder Customer Care
      Alison
      November 3, 2021

      Hi John,

      Yes, Rabobank does have a branch in Townsville and you can pay them a visit at the address below. They’re open from Monday to Friday, 8.30 am – 5.00 pm.

      Floor 2 19-39 Stanley Street
      Townsville QLD 4810
      PO Box 2240

      Thanks,
      Alison

    Default Gravatar
    Eugene
    October 22, 2021

    Can I link two separate accounts if I open a joint savings account in the names of my wife and myself?

      Avatarfinder Customer Care
      Alison
      October 26, 2021

      Hi,

      You can only link the Rabo Online Savings Account to a bank account that’s in the same name as your Rabo account. I believe that you can link to individual bank accounts, as long as they’re in your names. However, it’d be best to clarify this directly with Rabobank to verify if the accounts you are referring to can be linked before you open an account.

      Thanks,
      Alison

    Default Gravatar
    Maddy
    October 13, 2021

    Do I continue to earn 1.35% interest on my High Interest Savings Account if I withdraw some money from it during the 4 month introductory period. What are the penalties if I withdraw any funds during the first 4 months and will the bonus high interest rate still apply if I do withdraw any money during the 4 months?

      Avatarfinder Customer Care
      Alison
      October 20, 2021

      Hi Maddy,

      There are no fees, no deposit conditions, no withdrawal restrictions, and no minimum term to earn the 1.35% introductory bonus interest rate on the Rabobank High-Interest Savings account. As long as you are a new Rabobank customer, you’ll earn the bonus interest rate for the first four months for deposits of up to $250,000. After the 4-month period ends, it will revert to the standard variable rate of 0.25%.

      To know more and to apply, simply click the Go to Site button above and it will direct you to the online application process.

      I hope this helps!

      Cheers,
      Alison

    Default Gravatar
    Hanna
    September 1, 2021

    Hi the introductory rate of 1.35% p.a. on balances up to $250,000 on your first 4 months promotion, is it meant customers need to put money in the saving account for full 4 months to get 1.35% or can be just 2 or 3 months? Customers still eligible to earn 1.35% with no withdrawn restriction every month?

      Avatarfinder Customer Care
      Alison
      September 10, 2021

      Hi Hanna,

      The 1.35% p.a. introductory bonus interest rate is only available for the first four months to new customers. This bonus interest rate will be applied for deposits of up to $250,000. After the 4 month period ends, it will revert to the standard variable rate of 0.25% p.a.

      There are no fees, no deposit conditions and withdrawal restrictions, and no minimum term to earn this bonus rate. Interest is calculated daily and paid monthly, and there’s no requirement to keep your money in the account for the full 4 months if you don’t want to.

      If you’d like to apply, simply click the Go to Site button above and it will direct you to the online application process. I hope this helps!

      Thanks,
      Alison

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