RaboDirect SMSF PremiumSaver

RaboDirect SMSF PremiumSaver

Maximum Variable Rate

2.15

Standard Variable Rate

0.9

Be rewarded for saving regularly with bonus interest. Benefit from zero fees.

  • No monthly fees
  • Access your money online and via mobile app
  • Bonus interest is applied if your balance increases by $200 each month
  • Extra security with RaboDirect's security device

Product details

If you’re looking for a competitive savings account, RaboDirect’s Premium Saver SMSF 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 or more each month.

Product Name
RaboDirect SMSF PremiumSaver
Maximum Variable Rate
2.15% p.a.
Standard Variable Rate
0.90% p.a.
Bonus Variable Rate
1.25% p.a.
Introductory / Bonus Offer Conditions
Earn 2.15% p.a. with RaboDirect's PremiumSaver Account when you increase your balance at least $200 monthly. Rates available on balances up to $250,000.
Monthly Fee
$0
Minimum Opening Deposit
$0
Minimum monthly deposit for bonus interest rate
$200
Internet Banking
Yes
Internet Transaction Fee
$0
Phone Banking
No
Joint application?
Yes
Minimum Age Requirement
18
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 Premium Saver SMSF Account?

No monthly fees

There are no monthly or annual service fees to pay.

Get rewarded with a higher rate

If you deposit 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.

Compare other RaboDirect products

Pros

  • $0 opening balance.
  • No fees.
  • Online banking facilities.

Cons

  • Must meet the monthly balance increase of $200 to earn bonus interest.

How do I apply for the Rabodirect SMSF Premium Saver?

As RaboDirect is an online bank, the RaboDirect SMSF Premium Saver account can be applied for online by clicking ‘go to site’.

Eligibility to apply

You'll need to satisfy the following eligibility criteria in order to open an account:

  • You must be over  years of age
  • You must be an Australian resident

Documentation required

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 the name of your SMSF
  • Your SMSF's Tax File Number
  • The names, dates of birth and residential addresses of any members of the SMSF

Your application can be completed quickly and easily online, though you can save a partially completed application to return to at a later date.

What happens after I submit my application?

A RaboDirect high interest savings account will also be opened in your name. But don't worry, this doesn't charge any fees. You can then transfer funds from your everyday bank account into your PremiumSaver to start saving.

You will also receive a Welcome Pack and a DigiPass in the mail in a few working days.

The SMSF Premium Saver account from RaboDirect offers a number of attractive features for 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 SMSF Premium Saver rewards customers who are committed to regularly boosting their savings balance. If you deposit  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 mark.

However, if you deposit less than  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 SMSF 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.

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