If you’re looking for a competitive savings account, RaboDirect’s Premium Saver Trust account is an option worth considering. Featuring no fees at all to help you build your savings balance as quickly as possible, the account rewards you with a higher variable interest rate when you deposit $200 or more each month.
What are the features of the RaboDirect Premium Saver Trust Account?
- No fees. There are no monthly or annual service fees to pay.
- Get rewarded with a higher rate. If you deposit $200 or more into your Premium Saver account each month, you’ll receive a higher variable interest rate to help boost your savings balance. If you don’t reach this minimum monthly deposit amount, you’ll still receive RaboDirect’s competitive standard rate.
- 24/7 online access. RaboDirect is an online bank, meaning customers can access their account online at any time and withdraw funds whenever they wish.
- No balance limits. No minimum or maximum balance limits apply to this account.
- Unlimited withdrawals. You can make as many withdrawals as you like without incurring any sort of fee.
- No account maintenance. As you don’t have to pay any fees or perform any ongoing maintenance, the RaboDirect Premium Saver is a ‘set and forget’ account.
- $0 opening balance.
- No fees to pay.
- With online banking facilities.
- Should meet the monthly balance increase of $200.
- Lower interest rate if the increase is not reached per month.
How do I apply for the Rabodirect Premium Saver Trust?
As RaboDirect is an online bank, the RaboDirect Premium Saver account can be applied for online by clicking ‘go to site’. You will need the following documents and information in order to complete your application:
- The BSB and account number of an Australian bank account in your name
- Your Tax File Number
- The names, dates of birth and residential addresses of any sole traders and/or partners
In addition, you’ll also need to satisfy the following eligibility criteria in order to open an account:
- You must be over 16 years of age
- You must be an Australian resident
Your application can be completed quickly and easily online, though you can save a partially completed application to return to at a later date.
The Premium Saver account from RaboDirect offers a number of attractive features savers looking for a competitive savings account. Compare its benefits with other products on the market to ensure that you end up with an account that meets all your savings requirements.
How does the bonus interest work?
As mentioned, the RaboDirect Premium Saver rewards customers who are committed to regularly boosting their savings balance. If you deposit $200 or more into your account monthly, you’ll receive a higher variable interest rate to boost your savings balance. This feature comes completely free with the account and does not attract any fees.
If you want to check whether you’re on track to meet your minimum monthly deposit amount, you can log onto RaboDirect internet banking at any time. The bank will also send you an alert if you need to deposit more funds to reach the monthly $200 mark.
However, if you deposit less than $200 in any given month, you will still receive RaboDirect’s standard variable interest rate on your savings balance.
What fees and charges are payable for this account?
There are no fees that apply to the RaboDirect Premium Saver. That means no monthly fees, no annual fees and no internet transaction fees. This allows account holders to build your savings balance as quickly as possible.