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Take advantage of a competitive variable interest rate of 1.75% p.a. available on balances up to $250,000 on your first Rabobank Online Savings High Interest Savings Account. There's no monthly deposit conditions, and you'll still be eligible for interest even when you make withdrawals.
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Product Name | Rabobank Online Savings High Interest Savings Account |
---|---|
Maximum Variable Rate | 1.75% p.a. |
Standard Variable Rate | 0.30% |
Monthly Account Fee | $0 |
Minimum Opening Deposit | $0 |
Minimum Age | 16 |
Review by
Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
This savings account has one of the highest variable rates in the market at 1.75%. 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 0.3%. 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.