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Maximum variable rate: 5.65% p.a.
Base interest rate: 3.95% p.a.

Our verdict

Kickstart your savings with a competitive, introductory rate of 5.65% p.a. for 4 months.

This savings account has one of the highest variable rates in the market at 5.65%. 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 3.95%. 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.

Pros

Introductory rate of 5.65% p.a. for first months
Flexible, transfer funds in and out and still earn the bonus rate
$0 Account keeping fees

Cons

Interest rate drops to 3.95% p.a. after the introductory period
No branches available
Online or phone access only

Take advantage of a competitive variable interest rate of 5.65% 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.

Details

Key details

Product Name	Rabobank High Interest Savings Account
Maximum Variable Rate	5.65% p.a.
Standard Variable Rate	3.95% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	18

Rabobank scored in the Finder Awards

The Rabobank High Interest Savings Account was highly commended for Best No Conditions Savings Account in the 2026 Finder Awards.

Full list of 2026 winners

Key features

Earn 5.65% p.a. for the first 4 months

When you open your first Rabobank High Interest Savings account, you will receive an additional 1.7% p.a. on top of the standard rate bringing the maximum variable rate to a competitive 5.65% 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 3.95% 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.

After the 4 months, is there any penalty for taking out the funds?

Nope! There is no penalty for withdrawing money from the account, so you can dip into your savings when needed while still earning interest. A lot of other savings accounts restrict you to one or no withdrawals each month.

$0 account keeping fees

You're charged no account keeping fees with this high-interest savings account, meaning each dollar you save gets you closer to your savings goal.

Link to any Australian everyday bank account

You will need to link your Australian transaction account with the Rabobank account in order to move your savings in and out of it. Any Australian transaction account will do. During the application process you'll be prompted to enter in these details.

Access your account online, over the phone or via the Rabobank mobile app

Rabobank operates online only, with no branches in Australia to visit. You can access your account at any time of the day, any day of the week using Internet banking, phone banking or mobile banking.

No monthly balance requirements to meet

You are not required to maintain a certain balance with this account, and there's no monthly deposit requirement either. This means that you'll still earn interest even for months you don't deposit any money.

$0 minimum opening deposit

There is no minimum opening balance requirement with this account, so you can get started straight away.

How is my interest calculated?

Your interest earned is calculated daily and paid monthly – it applies as soon as the account is opened. The bonus interest rate is only available on the first Rabobank High Interest Savings account you open, including joint accounts.

Covered under the Australian Government Guarantee.

Your deposit with Rabobank up to the value of $250,000 is protected by the Australian Government Guarantee.

How long do electronic transfers to my linked bank account take?

Please allow up to 1-3 business days for the funds to appear in your linked account.

SMSF accounts available

This account is available for personal uses only. Rabobank offers high interest savings accounts specifically for SMSFs. For SMSF Accounts, more information can be found on our Rabobank High Interest Savings Account SMSF review page.

How to apply

You can apply for this account online as either an individual or joint account with someone else. 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 18 years old.
Your address. You will need to provide a valid residential or postal address in Australia.
Your phone number. You need a valid Australian mobile phone number.
Your email. You need a valid email address.

Your residency. Only permanent residents of Australia can be eligible for this account.
Bank account. You will have to already hold a bank account with an Australian financial institution.

Documentation needed

Once you have confirmed that you are eligible, Rabobank suggests that you have the following documentation readily available in order to help with completing the application:

Bank account number. You will have to provide the BSB and account number for the existing Australian bank account that is open in your name.
Tax file number. It is helpful that you provide your tax file number or exemption to ensure that the correct withholding is being applied to your account.
Identification. As with any financial institution, you will be required to provide proof of your identity, either with a driver's licence or passport.

What happens after I submit my application?

After you have submitted your application online, Rabobank will review your information and confirm your identity. Once satisfied, you will be notified of your new savings account details.

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Compare other products from Rabobank

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Rabobank High Interest Savings Account information page
2. Rabobank High Interest Savings Account TMD

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Alison Finder

Editorial Manager, Money

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Joel

March 26, 2026

I’m considering $5k as a starting amount in December? Can you add to this? What’s the terms?

Richard Whitten Finder

April 16, 2026

Hi Joel,

With this account you can add money whenever you like. And you’ll get 4 months with a special, higher interest rate. After that it drops to 3.95%. There are no other conditions to meet.

gma

March 08, 2026

is this gov backed

Sarah Megginson Finder

March 08, 2026

Yes, Rabobank us covered by the $250,000 government guarantee for authorised deposit-taking institutions.

Monika Maria

January 06, 2026

If I invest AUD 500.000 with Rabobank can I withdraw it instantly for example if I buy a proberty?

Alison Banney Finder

January 07, 2026

Hi,

You can withdraw money from a savings account whenever you want yes. If you invest the cash into a term deposit you will usually need to give the bank at least 30 days notice to withdraw.

Thanks,

Alison

chrisv

January 01, 2026

is the interest paid monthly. eg what is there to stop me moving my deposit onto another bank after the 4 months at this rate?

Ceyda Erem Finder

January 02, 2026

Hi Chris, yes the interest is calculated and paid monthly. Once the 4 months are up, you’ll then get the standard variable rate of 3.45%, unless you move your funds to another account.

Stephen Museth

November 03, 2025

Does Rabobank have a government guarantee on loss of money and up to what amount

Alison Banney Finder

November 04, 2025

Hi,

Yes, Rabobank is included in the Australian Government guarantee. Your combined deposit up to $250,000 in a Rabobank account is guaranteed under this scheme. You can read more about this here: https://www.finder.com.au/bank-accounts/bank-protect-money

Thanks,

Alison

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Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

Rabobank High Interest Savings Account

Pros

Cons

Rabobank scored in the Finder Awards

Key features

Earn 5.65% p.a. for the first 4 months

Standard interest rate of 3.95% p.a.

After the 4 months, is there any penalty for taking out the funds?

$0 account keeping fees

Link to any Australian everyday bank account

Access your account online, over the phone or via the Rabobank mobile app

No monthly balance requirements to meet

$0 minimum opening deposit

How is my interest calculated?

Covered under the Australian Government Guarantee.

How long do electronic transfers to my linked bank account take?

SMSF accounts available

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Compare other products from Rabobank

Sources

Sources

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