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Our verdict

Boost the interest-earning power of your self-managed super fund (SMSF) with a Notice Saver Account (60 days) from Rabobank.

This account allows you to earn a competitive rate of interest on your SMSF cash balance. Remember, in order to access this high rate you need to be willing to provide 60 days advance notice before withdrawing any funds.

Pros

There is $0 account keeping fee
Unlimited deposits for your account

Cons

Must give 60 days notice to withdraw funds

If you’re the trustee of a SMSF and you’re looking for a safe and effective way to grow your savings, a Rabobank Notice Saver Account is well worth a look. Available to SMSFs as well as personal and business customers, the Rabobank Notice Saver offers a competitive variable interest rate on your savings balance. However, you need to provide 60 days notice if you wish to access the funds.

Details

Key details

Product Name	Rabobank Notice Saver SMSF (60 days)
Maximum Variable Rate	4.35% p.a.
Standard Variable Rate	4.35% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	16

Key features

Competitive variable rates up to 4.35%

The Rabobank Notice Saver SMSF (60 days) offers a maximum variable rate of 4.35% on your balance.

60 days notice period

If you want to withdraw money from your Notice Saver SMSF (60 days) account, you'll need to give the bank 60 days notice before you can access any funds. If this doesn't suit your needs, Rabobank also offers a Notice Saver that requires just 31 days notice to access the funds. Or, if you can lock your cash away even longer, take a look at the Notice Saver SMSF (90 days) instead.

No account keeping fees

There are no ongoing account-keeping fees on the Rabobank Notice Saver nor are there any setup fees, allowing you to build a bigger savings balance as quickly as possible.

Top up your account

Unlike a term deposit, which locks your money away, a Rabobank Notice Saver SMSF (60 days) allows you to deposit money into your account whenever you wish.

Easy management

It's simple and convenient to keep track of your Notice Saver Account using Rabobank's online banking platform and mobile banking app.

Compare other Rabobank products

How to apply

If you think the Rabobank Notice Saver SMSF (60 days) could be the ideal savings solution for your SMSF, you'll need the following information for your application.

In addition, when you apply for a Rabobank Notice Saver, you automatically open a fee-free High Interest Savings Account to help manage your savings.

Eligibility

To apply for a Notice Saver Account for an SMSF, you must meet the following eligibility requirements:

Be registered. Your SMSF must be currently registered in Australia and have an Australian Business Number (ABN) for tax purposes.
Have a bank account. Your SMSF must have a bank account in its name with another financial institution.

Age and residency requirements. You, the authorised signatory, must be at least 16 years of age and an Australian resident for tax purposes.

Documentation needed

During the application process, you will need to provide the following information:

Authorised signatory details. You must provide your name, address, date of birth and contact information.
SMSF details. Provide the name, ABN and tax file number of the SMSF.
Existing bank account details. You will need to supply the Bank State Branch(BSB) and account number of an existing account your DIY super fund holds with another financial institution.
Notice period. This account requires 60 days notice if you wish to access the funds. Rabobank also offers Notice Savers with 31 or 90 days notice required instead, which you can choose when you complete the application.

If you want a savings account that offers competitive interest rates and the ability to top up your balance whenever you want, the Rabobank Notice Saver is worth considering.

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Alison Finder

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Rabobank Notice Saver SMSF