RaboDirect Business High Interest Savings Account

RaboDirect Business High Interest Savings Account

Maximum Variable Rate


Standard Variable Rate

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

  • $0 minimum balance
  • $0 account keeping fee
  • 24/7 online access to account

Product details

Your excess business funds have a secure place to be parked with the RaboDirect Business High Interest Savings Account. This is an at call savings product that allows you to move money in and out, whenever you want and as often as you need to.

With RaboDirect online and mobile banking, your business will always have the money it takes to stay up and running.

Product Name
RaboDirect Business High Interest Savings Account
Maximum Variable Rate
2.25% p.a.
Standard Variable Rate
1.80% p.a.
Bonus Variable Rate
0.45% 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?

The way your business working capital is managed will go a long way towards securing success. Before signing on for a high interest business savings account, compare the features of RaboDirect’s with those found at other Australian banks:

  • Monthly fees. There are no establishment or monthly fees with this savings account.
  • Minimum balance. You will not be required to maintain a minimum balance.
  • Interest rates. A variable competitive interest is earned on each dollar you have invested in the account.
  • Introductory bonus. New customers will receive a variable bonus rate on top of the standard on balances of up to $250,000 for the first four months after the account has been opened.
  • Interest calculation. Interest is calculated every day and paid into the account once a month.
  • Nominated account. A business transaction account is necessary in order for you to be able to move your money quickly in and out of the savings account.
  • Accessibility. Manage your money using RaboDirect’s online banking feature.
  • Mobile access. By downloading the RaboDirect app onto your Android or iPhone, you can manage your account wherever you are.
  • Security. RaboDirect provides their customers with an electronic device known as a Digipass to provide extra security for your accounts.

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

If after comparing the features you find that this is the high interest savings account which can give yours the best benefits, you can begin filling out an online application by clicking on “Go to Site”. There are eligibility requirements that you will need to prove can be met 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.

While filling in the application, you will be asked to provide relevant information obtained from documentation which you should have readily available:

  • 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 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 be able to verify their identity.
  • Business information. The Australian Business Number (ABN) or Australian Company Number (ACN) is required.
  • Bank information. The BSB and account number of the banking account your business holds in another Australian financial institution. It is important that the name on that account matches the name you are providing RaboDirect with.
  • 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.

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. Keep in mind that the bonus introductory rate is only good for the first four months after the account has been opened.

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6 Responses to RaboDirect Business High Interest Savings Account

  1. Default Gravatar
    Nicole | February 5, 2016

    Does this account come with eftpos cards?

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

    • Staff
      Shirley | February 5, 2016

      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
    Michelle | January 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?

    • Staff
      Shirley | January 6, 2016

      Hi Michelle,

      Thanks for your question.

      Yes it can be with another financial institution in Australia.


  3. Default Gravatar
    Lachlan | November 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.

    • Staff
      Belinda | November 13, 2015

      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.


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