RaboDirect Business High Interest Savings Account

RaboDirect Business High Interest Savings Account

Maximum Variable Rate


Standard Variable Rate


Keep your business capital handy for when you need it, while it still earns interest.

  • $0 minimum balance
  • $0 account keeping fee
  • Interest earned on all balanced
  • Combined physical and e-security

Product details

The RaboDirect Business High Interest Savings Account is a high-security account that combines flexibility and competitive rates to let your business grow and make transactions as needed.

This account has a competitive interest rate while providing easy access to your funds.

Product Name
RaboDirect Business High Interest Savings Account
Maximum Variable Rate
2.25% p.a.
Standard Variable Rate
1.50% p.a.
Bonus Variable Rate
0.75% p.a.
Introductory / Bonus Offer Conditions
Earn an introductory variable rate of 2.25% p.a. on balances up to $250,000 for new customers. Receive the introductory rate for 4 months.
Monthly Fee
Minimum Opening Deposit
Introductory Interest Period
4 month(s)
Internet Banking
Phone Banking
Joint application?
Minimum Age Requirement
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the RaboDirect Business High Interest Savings Account?

All RaboDirect customers need to hold one High Interest Savings Account with the bank. This page is for business accounts, but you can instead choose a personal account or an SMSF account with different features and rates. The features of this business High Interest Savings Account account include:

No monthly fees

There are no establishment or monthly fees with this savings account.

Enhanced physical and digital security

RaboDirect provides their customers with an electronic device, known as the Digipass, to provide physical security for your online accounts. Delivering an extra layer of protection, the account cannot make transfers to third party accounts except through your linked accounts.

Free, unlimited transfers

This account lets you make unlimited to other RaboDirect account in your name, or transfer up to $100,000 per business day to linked accounts. To make transfers to third parties you can move funds through linked accounts.

No minimum balance required

There are no minimum balance requirements to earn interest.

1.50% p.a. base interest

Earn 1.50% p.a. calculated daily and paid monthly.

Introductory bonus rates

New customers will receive 0.75% p.a. for the first 4 months on balances of up to $250,000.

Linked account

Link accounts, either with RaboDirect or another institution, to facilitate transactions and move your funds quickly and freely. Compare other RaboDirect products.

Online account management

Manage your business finances with RaboDirect’s online banking.

Mobile access

Download the RaboDirect app, for Android or iPhone, to manage your account wherever you are.

Launch savings calculator


  • Earns interest on any balance in the account
  • Enhanced with DigiPass physical security
  • Flexible transaction options to suit almost any business


  • No in-branch transactions are available. RaboDirect is online only

How do I apply for the RaboDirect Business High Interest Savings Account?

If the features of this account are right for your business, you can apply online.

Eligibility to apply

There are eligibility requirements that you will need to meet before your application can be processed:

  • Minimum age. As the authorised signatory for the account, you must be at least 18 years of age.
  • Residency requirements. You must have an Australian residential address and be an Australian resident in order to open this business account. In addition, the business must be currently registered to operate in Australia.
  • Depository requirements. There is no minimum deposit requirement to be met when opening the account.
  • Bank account. The business must have an additional bank account in Australia using the same name.

Documentation required

While filling in the application, you will be asked to provide relevant information:

  • Tax file number. Both yours and your business’ tax file number (TFN) or exemptions will be asked for, but are not obligatory. Providing these helps in ensuring that the withholding tax on your interest earnings is applied at the correct rate.
  • Identification. All partners in the business will need to provide a driver’s licence, passport or Medicare card in order for RaboDirect to verify their identity.
  • Business information. The Australian Business Number (ABN) or Australian Company Number (ACN) is required.
  • Bank information. You will need to provide the BSB and account number of a chosen linked account your business holds, either in another Australian financial institution or with RaboDirect. Both accounts need to be held in the same name.
  • Personal information. Depending on how your business is structured, you will need the full names of the director, chairperson, secretary and treasurer. For a partnership you will have to provide the full name, birth date, and residential address for all listed partners.

What happens after I submit my application?

After verifying that all of the information provided is correct, RaboDirect will open your business high interest savings account and link your account so that you may begin making transfers and earning interest.

Back to top Back to top Back to top

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, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.

6 Responses

  1. Default Gravatar
    NicoleFebruary 5, 2016

    Does this account come with eftpos cards?

    Are there transaction fees on this account? If so, what are they?

    • finder Customer Care
      ShirleyFebruary 5, 2016Staff

      Hi Nicole,

      Thanks for your question.

      This account doesn’t come with an EFTPOS card as it’s a savings account, and thus, doesn’t have any transaction fees.

      Hope this helps.

  2. Default Gravatar
    MichelleJanuary 6, 2016

    In regards to the RaboDirect Business High Interest Savings account it states that a nominated Business transaction account needs to be set up. Can this account be with another Bank? If not, are there any fees associated with this RaboDirect Business transaction account?

    • finder Customer Care
      ShirleyJanuary 6, 2016Staff

      Hi Michelle,

      Thanks for your question.

      Yes it can be with another financial institution in Australia.


  3. Default Gravatar
    LachlanNovember 11, 2015

    I am part of a group of 5 students looking to move out of a university college next year. We have secured a rental lease and are looking to setup a joint bank account to coordinate payments. I was wondering whether this account would be suitable. It would require access by all 5 persons and to be easily accessible for payments for utilities and rent etc.

    • finder Customer Care
      BelindaNovember 13, 2015Staff

      Hi Lachlan,

      Thanks for your enquiry.

      finder.com.au is an online comparison website so we do not have a licence to provide personal financial advice about whether or not a savings account is suitable for you or not.

      However, I can confirm that the RaboDirect Business High Interest Savings Account is available for joint applications although this account is suited for business purposes and you would need an Australian Business Number (ABN) to complete the application.

      Alternatively, you can compare a range of personal joint bank accounts on this page.


Ask a question
Go to site