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Raboplus Are Giving Away $50 Again

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Raboplus Are Giving Away $50 Again
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Max on 12/02/2009 - 19:35 raboplus.com.au (1113 clicks)
CASHPR

Not sure how Raboplus's current rate of 4% compares, but they'll give you $50 if you open an account with a minimum opening balance of $500. As usual, terms and conditions apply.

Apply for a new RaboPlus account by 28 February 2009 and not only will you get one of the highest ongoing savings rates in the market, we'll also give you $50 to kick start your savings*.

Here's the blurb:

Here's how, in four easy steps:

Apply online before 28 February 2009.

On the application form, enter promotional code CASHPR in the promotional code field.

Open your account with a minimum opening balance of $500.

Send your paperwork in to us and activate your account before 31 March 2009.

Financial Raboplus

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Rabobank

closed Comments

  • proudwanderer on 12/02/2009 - 19:45
    +1

    If you've already got an account - can you open another one and get this offer?

    • HueyData on 12/02/2009 - 19:49
      +3

      Only available to new RaboPlus customers. Offer limited to one account per customer. Applicants must apply online before 11:59pm Sydney time on Saturday 28th February 2009. Applicants must enter CASHPR in the promotional code field on the online application form. The opening deposit funds transfer of $500 must be cleared when the account is opened. Signed application forms must be completed correctly and received by RaboPlus by 31st March 2009.

  • HueyData on 12/02/2009 - 19:48
    +1

    Not sure how Raboplus’s current rate of 4% compares […]

    ING Direct Savings Maximiser currently has a 3.75% variable base rate. New customers (before 17 April) get an introductory rate that remains 1% above the variable base rate until 31 July.

    This RaboPlus offer looks better.

  • sme73 on 12/02/2009 - 19:50
    +2

    I have this link which i will have to review some more as i am with Rabo and looking to move, as 4% seems fairly poor.

    http://www.canstar.com.au/interest-rate-comparison/compare-o…

    Any suggestions would be fantastic.

    Good deal though even just to open an account and get the $50.

    • HueyData on 12/02/2009 - 20:11
      +1

      Good deal though even just to open an account and get the $50.

      Exactly.

  • sme73 on 12/02/2009 - 20:01

    http://www.stgeorge.com.au/accounts/saving-for-a-goal/direct…

    StGeorge Directsaver have 4.75%… i have an account which i might transfer back into.

    AMP also have a deal, but its not for too long, so unless you have a large amount, not great as it will go back to 4.05%

    Open an eASYSaver Account between 12 January 2009 and 30 April 2009 and a bonus of 1.95%p.a. will be added to the current standard eASYSaver Account interest rate until 30 April 2009.

    If you're an existing personal customer, simply increase your eASYSaver Account balance as at 12 January 2009 by $10,000 or more before 30 April 2009 to qualify for this bonus rate.

    • [Deactivated] on 13/02/2009 - 08:38

      The AMP says

      "Simply increase your eASYSaver Account balance as at 12 January 2009 by $10,000"

      oh I wish it WAS that SIMPLE!!! - I might ask Kev to increase the bonus next time I see him!!

      And its also SIMPLE for businesses to also get a higher rate (although only .7% extra) JUST add $100,000 to an existing account. Might ask those defaulting debtors to sell their BMWS to assist me here!!!

      Remember this is only for another 6 weeks

      I am not sure of St George - but AMP tend to decrease their rates later after the previous rate decrease - while good for existing customers it may not be that good by the time you switch. (need to do math based on own circumstances and rate you are getting now)

  • looseylu on 12/02/2009 - 20:21
    +1

    hey not too bad ill join up now. thx max

    • Max on 13/02/2009 - 10:40

      No problem, looseylu. Glad to help.

  • atlas on 12/02/2009 - 22:35

    Is there a minimum period for which you must have the account open? Or a minimum balance?

    5% - www.membersequity.com.au

    • HueyData on 12/02/2009 - 22:54

      Absolutely no fees - ever!

      No minimum balance

      No mention of a minimum period, but would it matter with no fees and no minimum balance?

      • browser on 14/02/2009 - 10:45

        I was told $50 bonus will go in around 2 weeks after $500 deposit, then you can withdraw and close the account, no fees. May be most people will stay, who knows.

  • M27 on 12/02/2009 - 22:53

    I was using Raboplus, later switched to Bankwest, now i'm with OneDirect(5%). It's backed by ANZ.

    www.onedirect.com.au

  • hot-elle on 13/02/2009 - 00:23

    Just wondering if someone found the snag in this deal?

    • Max on 13/02/2009 - 10:42

      I'm not saying there isn't a snag in this deal but I have received money from these types of offers before. I don't think there's anything to lose. And all it costs you is some time to fill out some forms. And a stamp, I suppose :)

  • mmaattuu on 13/02/2009 - 01:12

    To receive the $50 do you have to have the $500 within the account for an amount of time? Or just open?

    • Max on 13/02/2009 - 10:44

      It's not clear when they will pay the money. It might be worth keeping your $500 in until they pay you the $50 but hopefully that won't take too long. If anyone rings up to find that out, please post the answer here.

  • [Deactivated] on 13/02/2009 - 08:28

    Given that many banks are now saying they wont pass on RBA interest rate drops because the cost of obtaining money from other sources - ie overseas has risen, it beggars belief that they are not paying higher for money here. The offers of extra interest for new accounts is one way that they can get funds here in Australia still less than they can borrow overseas. However the issue they have is that it just takes from the pool of money that is already here. As well if they pay lower rates for money here, then add the higher rates from overseas they can average it out somewhere in the middle.

    Now we have lost some of the competition in the market place from banks like bankwest now part of CBA, there is less competition for money here. The only thing working in our favour as savers is that the smaller banks will find it harder to raise funds from overseas and may have to increase deposit rates here. one game is just what is being played now. A teaser rate to get people to switch. its a good sign lets hope as savers that this is the start of better offers to come.

  • brenosaur on 13/02/2009 - 08:43
    +1

    Just remember that the difference between Raboplus' 4% and the ~0.25-0.5% you might find elsewhere is negligible.

    If you deposit the bare minimum ($500), you are earning $50 + 4% p.a. The $50 is an almost instant 10% return on your $500.

    • Turd on 13/02/2009 - 10:03

      Dammit I wish I can sign up again!

  • sme73 on 13/02/2009 - 10:49
    +1

    Turd, why not get a family member to sign up for you and deposit your money in there? I guess it just means one more B-pay Pay anyone onto your internet banking. So where you would normally transfer direct into the high interest saver, just bpay to the family member and then they do the direct transfer. Large family, then go to town! hehe

  • SomeGuyOnOzB on 13/02/2009 - 13:00

    Comsec's cash account dropped from 4.75% to 4.25%. I'm hoping Raboplus will try to beat that :)

  • TreyCannon on 13/02/2009 - 13:28
    +1

    I just sent off the application….I was looking at putting a bunch of savings into a high intrest account before the end of the financial year

    So I may as well get $50 for doing it!

  • modsec802 on 08/03/2009 - 20:26

    Opened by account and got my key and logged on and $50 bonus is there. Cool.

    • modsec802 on 09/03/2009 - 14:29

      I wonder if it is classified as 'interest' for tax purposes?

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