RaboDirect High Interest Savings Account

RaboDirect High Interest Savings Account

Maximum Variable Rate


Standard Variable Rate


Earn up to 2.70% interest on your SMSF cash balance.

  • Earn competitive interest rates on your SMSF's funds
  • No fees or minimum balance
  • Physical security for online accounts

Product details

RaboDirect specialises in providing savings accounts for SMSFs, as well as for individual. This high interest savings account for SMSFs combines competitive rates and enhanced security features to grow and protect your funds.

You will get a free RaboDirect DigiPass with this account, to bring physical, real world security to your online savings.

Product Name
RaboDirect High Interest Savings Account (SMSF)
Maximum Variable Rate
2.70% p.a.
Standard Variable Rate
1.90% p.a.
Bonus Variable Rate
0.80% p.a.
Introductory / Bonus Offer Conditions
Introductory interest rate is applicable on new customers with balances of up to $250,000. Available for 4 months from the day account is opened.
Monthly Fee
Minimum Opening Deposit
Introductory Interest Period
4 month(s)
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
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 High Interest Savings Account (SMSF)?

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

Earn up to 2.70%

For the first four months, new accounts earn a maximum introductory interest rate of 2.70% p.a. for balances up to $250,000, helping to kick start your savings.

1.90% p.a. base interest rates

Tiered interest rates apply, with balances up to $250,000 earning 1.90% p.a.

The DigiPass handheld security system

No one can move funds from your account without also having your RaboDirect DigiPass security device, and the codes for it which are sent to you alone. This handheld device works alongside your online account, so your savings stay secure even if your online account is compromised. What this means is that even if someone manages to steal your internet banking passwords, they still can't get at your account.

No need to switch banks

You don’t have to switch banks to open this account. You can continue using your existing everyday banking account, and you can use this account as your superannuation savings hub.

Money stays in Australia

RaboDirect invests its deposits into Australian food and agri-businesses, so your savings grow along with one of Australia's most important industries.

Your deposits are guaranteed by the Australian Government

The Australian Government’s Guarantee Scheme for Large Deposits protects up to $250,000 of you combined balances with RaboDirect.

No monthly account fees

Pay no monthly account keeping fees on this savings account.

Online and mobile access

Access account details and make transfers with RaboDirect’s online banking platform or mobile banking app, in conjunction with your DigiPass. Compare other RaboDirect products.

No minimum balance requirements

This savings account does not require you to maintain any minimum ongoing balance. No matter how much money you have in your account, it will earn interest.

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  • Earn competitive ongoing and bonus rates
  • Tailored for SMSFs
  • No minimum balance required
  • No monthly account-keeping fees
  • Access to the unique DigiPass security system


  • Online only with no in-store branch access

How do you apply for the RaboDirect High Interest Savings Account SMSF?

Check if the features of the RaboDirect High Interest Savings Account SMSF are right for you, and open an account online.

Eligibility to apply

  • You’re applying as an authorised signatory
  • You are at least 16 years old
  • You are a resident of Australia for taxation purposes
  • Your SMSF is registered in Australia
  • Your SMSF has an ABN

Documentation required

In order to complete the application successfully, keep the following handy.

  • Your SMSF's name and ABN
  • The SMSF trust deed
  • Account number of an existing Australian bank account in the SMSF's name along with the bank’s BSB
  • The SMSF's Tax File Number or exemption
  • Complete details of an individual or a company to serve as trustee
  • Complete details of an individual or a company to serve as Settlor (if applicable)

What happens after I've submitted my application?

RaboDirect will send you a Welcome Pack containing your DigiPass and brochure. It is usually mailed out the next business day after your account is opened. Your PIN for your DigiPass can be received via SMS or email.

It may take up to 5 business days for your Welcome Pack to arrive.

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4 Responses

  1. Default Gravatar
    CarrollMarch 20, 2018

    We have $400,000.00 to transfer. What is your interest rate for this?

    • finder Customer Care
      JhezelynMarch 28, 2018Staff

      Hello Carroll,

      Thank you for your comment.

      Upon checking, the interest of 1.90% p.a. will apply for the whole amount of $400,000 then the bonus variable rate of 0.80% p.a. will be for the $250,000 only. This means that you’re able to get the highest possible interest rate of 2.70% p.a for $250,000 only. The remaining amount will have the interest of 1.90%. This is for the RaboDirect High Interest Savings Account (SMSF).


  2. Default Gravatar
    RobynFebruary 18, 2018

    Which would be the best way to invest $20.000

    • finder Customer Care
      JonathanMarch 7, 2018Staff

      Hi Robyn, thanks for your inquiry.

      Please note that you have reached finder.com.au, a comparison service. It would be best to get in contact with a professional wealth manager or investment consultant.



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