Rabobank Term Deposit

Put your super savings in a safe place and enjoy guaranteed returns with a Rabobank Term Deposit for self-managed super funds (SMSFs).

A term deposit offers secure, guaranteed returns on your savings, providing a safe and reliable investment opportunity for your SMSF. Although commonly associated with personal and business banking customers, SMSFs can also take out term deposits, allowing them to build a bigger fund balance. The Rabobank Term Deposit combines competitive interest rates with terms ranging from one month to five years.

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Alison Banney

Last Updated Dec 31, 2020

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Details

Product Name	Rabobank Term Deposit (SMSF)
3 month interest rate	0.45%
6 month interest rate	0.75%
9 month interest rate	0.50%
12 month interest rate	0.75%
24 month interest rate	0.50%
36 month interest rate	0.50%
48 month interest rate	1.05%
60 month interest rate	1.25%
Minimum Opening Deposit	$1,000
Minimum Age Requirement	18

The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Minimum Age Requirement	18
Joint account availability	Yes
Min Deposit	$1,000
Available to children	Not available for children

Pros

Guaranteed interest rate of 1.25% for fixed period of 5 years
Interest paid to a linked Rabobank's account
Large range of terms, from 1 month to 5 years

Cons

No access to your money
Online bank only - no branch or counter access

Key features

Fixed interest rate: Up to 0.75% p.a. for 6 months

The Rabobank Term Deposit provides a competitive fixed interest rate so that you can enjoy guaranteed, predictable returns on the money you invest. The interest rate you receive varies based on the term you select.

Terms from one month to five years

This account is available with terms ranging from one month to five years, allowing you to choose the investment period that best suits the financial needs of your SMSF.

Minimum deposit of just $1,000

The Rabobank Term Deposit requires you to deposit at least $1,000 in order to open an account. The maximum deposit limit is $2 million.

Interest payment options

If you choose a Rabobank Term Deposit with a term of 12 months or more, you can choose to have your interest paid at any of the following intervals: monthly, quarterly, half-yearly or yearly.

Manage your money online

SMSF customers can manage their Term Deposit online through Rabobank's secure Internet banking website and mobile banking app. Compare other Rabobank products.

10% loyalty bonus

When your term deposit matures, you have the option to roll your funds over into a new term deposit. Customers who choose to do so will receive a 0.10% p.a. interest rate bonus to reward their loyalty.

Launch term deposit calculator

How to apply

To complete the online application you will need to do the following:

Have an existing SMSF. You will need to choose the relevant option (SMSF) at the start of the application.
Open a Business High Interest Savings Account. This comes with all Rabobank accounts to help you transfer funds. It does not charge any ongoing fees.

Eligibility

You must meet all eligibility criteria, but they vary depending on the type of account you are applying for. For SMSF applications, your SMSF must meet the following requirements:

Be registered. Your super fund must be registered in Australia and have an Australian Business Number (ABN) for tax purposes.
Have a bank account. Your super fund must have a bank account in its name with another financial institution.

Documentation needed

In addition, you, the authorised signatory, must be over 18 years of age and an Australian resident for tax purposes. You will also need to provide the following details and documentation to successfully complete the application:

Account details. Rabobank requires the BSB and account number of an existing account the SMSF holds with another financial institution.
Name and ABN. You must supply the name and ABN of the SMSF.
Tax File Number (TFN). You will need to supply the TFN or exemption of the super fund.
Your details. You must provide the full details of the individual or company acting as the SMSF trustee.

The Rabobank Term Deposit offers a competitive interest rate, a wide range of terms and the security of guaranteed returns. Compare it with other term deposit accounts to find the right place to invest funds for your SMSF.

Alison Banney

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Alison Banney is the banking and investments editor at Finder. She has written about finance for over 8 years, with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business. She has previously worked at Westpac, and has written for several other major banks including BCU, Greater Bank and Gateway Credit Union. Alison has a Bachelor of Communications from Newcastle University, with a double major in Journalism and Public Relations. She has ASIC RG146 compliance certificates for Financial Advice, Securities and Managed Investments and Superannuation. Outside of Finder, you’ll likely find her somewhere near the ocean.

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