From their site
High Interest Savings Account
Earn a fresh 2.10% p.a. on your savings*
*Current 4 month introductory variable rate for new personal customers on deposits up to $250,000.
Bonus introductory variable rate for the first 4 months
Supporting Aussie farmers with every dollar you save
Collection of wisdom of netizens ;-)
Is it just me that is not understanding this sudden surge of “high” interest accounts.
Put your money in this account and lose 5% of its worth earning 2% interest. Like why?!? Inflations at 7% give or take, this condemns someone to lose 5% of its worth.
You're right, its better to stuff it under the mattress instead.
What's the alternative for cash? Losing 5% is better than losing 7%. Shares aren't attractive right now. Neither is real estate. Genuinely curious if anyone has an attractive alternative.
If you need risk free cash, you need cash. Better earning 2.1% on it then earning 0% on it.
Gotta love the negs because understanding simple economics is hard.
Data-backed facts show those that who put money into interest accounts do little with their money. It sits their and the effort to then do something over the "high interest" of 2% makes them lazy.
Alternatives are all over, shares whilst challenging can lead to better returns, as could rentals (if you're dumping $200k into it). I agree, if you're putting $5k in and want cash on hand, great. But it'd be better in an offset, paying off debts, etc. Way better uses than 2%.
Probably a dumb question, so I could just sign up, put 95% of my savings in this account for 4 months then just transfer it back to original bank account?
Totally.
Good option for someone who might have sold their house and looking for a new property.
$1,750 earnings while looking for a new home is better than nothing.
I guess you could double it as well if in a relationship?
Has anyone used Rabobank? Views look terrible
perhaps 100k at Ing is better long term?
Only if you have 100k and not more
I already have a login with them for the travel account
I closed my saver a few years ago am I considered new customer!?
It seems the website is currently down, when i tried to open an account i get the error:
"Sorry, the Rabobank website is currently unavailable
We're just doing some maintenance work on the website at the moment, we won't be too long."
Just short note:
They will send you hardware token, and you will not be able to access internet banking before you receive it (8-10 business days).
While high interest rate starts straight away on the day you receive you acc details.
Hate that token. Why can they not use you mobile like everybody else?
it is fine if you just need to put money on your account and forget for 4 months :)
True.
Remember to check the Savings Accounts Leaderboard