Be rewarded for saving regularly with bonus interest. Benefit from zero fees.
If you’re looking for a competitive savings account, Rabobank SMSF PremiumSaver 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.
Pros
$0 opening balance.
No fees.
Online banking facilities.
Cons
Must meet the monthly balance increase of $200 to earn bonus interest.
These savings accounts offer high interest rates with minimal conditions or restrictions, making it easier for you to earn the most interest possible.
7+
Great
These savings accounts have quite competitive interest rates and relatively minimal conditions and restrictions.
5+
Standard
Usually these savings accounts offer average or slightly above average rates and require you to meet several conditions before you can get the maximum rate.
0+
Basic
These accounts have poor interest rates and make it much more difficult to qualify for the maximum interest rate.
Key features
No monthly 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 PremiumSaver 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 Rabobank's competitive standard rate.
24/7 online access
Rabobank 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 Rabobank SMSF PremiumSaver is a 'set and forget' account.
As Rabobank is an online bank, the Rabobank SMSF PremiumSaver account can be applied for online by clicking 'go to site'.
Eligibility
You'll need to satisfy the following eligibility criteria in order to open an account:
You must be over 18 years of age
You must be an Australian resident
Documentation needed
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 Rabobank 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 PremiumSaver account from Rabobank 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 the Finder Score helps you find a better savings account
The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds.
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