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High Interest Savings Account - 5.00% p.a. Interest on Balance up to $250,000 for 4 Months (New Customers Only) @ Rabobank

460

EARN 5.00% P.A* variable rate on your first $250,000

Bonus introductory variable rate for the first 4 months (up to $250,000)
*(if applicable), commences on the day your BSB & Account number are issued.
Ongoing high interest rate to keep your savings growing & you reaching your goals faster
No need to change your everyday banking
Three tiers of interest based on your balance
Supporting Aussie farmers with every dollar you save

*Current 4 month introductory variable rate for new personal customers on deposits up to $250,000, commences on the day your BSB & Account number are issued not from when the account is funded. Rate subject to change. Not available where you have closed a Rabobank Online Savings account within the previous 3 years.

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closed Comments

    • +15

      some people may have more than $50k

      • And are sick of Woolworth security yelling at them not to eat all the free fruit?

    • +9

      Some people might be over 35

    • +7

      Lol, I like your profile name….

  • +11

    5% is only for 4 months, then goes to standard rate which is currently 3.75%

    • +4

      Still a good rate! Do the math, 100k at 5% … not a bad little earner for 4 months!!!!

      • -2

        *maths

        • +1

          Either is accepted. US or UK English … same, same!

    • +3

      After 4 months you can move elsewhere

      • +2

        Is it easy to move your money from Rabos ?

  • Rabo's term deposit rates also up (only marginally though).

  • +6

    still using the physical token ? its annoying

    • +3

      Your 4 month period starts from when they issue your BSB and account number, but the digital token arrives 7-10 days later. Too bad if you wanted to confirm your small deposit arrived safely before transferring over bulk cash.

      • You maybe can call up and customer service can tell you. I certainly would not transfer a large sum without confirmation.

    • yeah i was annoyed by this at first - as well as having to set up only one account you can transfer money to (and having to go through a verification process), but now its all done it seems OK. I can put up with it for 4 months or until a better deal comes along.

  • +3

    Assuming interest is paid monthly and the cash is just 'there' then it's a quick way to make just over $4k on your $1/4 million deposit.

    Though, with mortgages sitting at 5.6ish % right now, you'd be better off whacking that 1/4 Mil into an offset account for as long as you can…you'd save just over $14k in interest in 12 months

    • +2

      And you’ve got to pay tax on the $4k earnt in the HISA.

    • +1

      yeah my home loan is fixed at 2.09% for the next year or so. It has an offset account but i've pulled all the money out and put it in rabo. Even after tax i'm way ahead - strange world at the moment.

      • Fixed, with offset facility. May I ask which bank/product you are using?

        • +1

          Tictoc does fixed with a real offset account. Kinda rare combo.

        • Qld country bank

  • +2

    How fast do they answer the phone if there are issues e.g. increase transfer limit?
    (I'm thinking about Ubank).

    • $300k transfer limit to nominated bank account
      it takes few day to change the nominated bank account by transferring a small amount from your nominated bank account to rabobank account

    • You can call Ubank and will be able transfer as much as you want to Rabobank on the same day.

      • Yrue but has Ubank improved their phone answering time?
        I spent hours on the phone a couple of months ago.

        • +1

          My call was answered within 2 minutes

  • +4

    Tried to get Macquarie to boost my current rate (4.25%) to 4.65% which is their current offer. They said they couldn't…
    Told them RaboBank offering 5.00% so I would just open a new account with them, but I would stay with Macquarie if they could give me the 4.65%. Still no.
    Hello Rabo!

    • +4

      I opened rabobank account last month when the rate was 4.75%. Now the app shows I’m getting 5%. They have boosted all existing “new” customers

      • +2

        Good on them. Surprising, yes, but better than most other banks.

      • I'm in the same boat, can find where the accounts rate is though - where do you see it?

        • +2

          In the app. Click on the account, go to 'I want to…' then choose 'view account details'.

      • Where do you see it in the App?
        Edit: I have found it. It says: Rate 3.75%, Max Rate 5.0%
        Hopefully they will be applying this Max rate.

      • yeah i was so surprise about this too!

        • In my experience, this is the norm. Macquarie is the only one I know that does not pass on increases on an at call account.

  • +2

    only 2% below inflation

  • I might swap from UBank, are there any deposits/transactions needed to get the 5% every month?
    Thanks!

    • +1

      no hoop, but the bonus rate only applies to first 4 months

    • +1

      ubank will be 4.6% soon, so rabo still better for the intro period. After that you can go back to Ubank. No hoops at Rabo which is awesome, just an annoying electronic number generator and having to verify a single account that you can transfer money to.

  • +2

    Great! Thanks OP.
    How hard is it after their honeymoon period to shift the 1/4 mil back to somewhere with another fresh honeymoon?

  • +2

    bye bye Macquaire

    • Gretel will be sad.

  • Anyone know how long until you get issues your BSB and Account number?

    • +1

      immediately

    • +1

      Mine was the day after applying

  • +1

    took a few hours once opened online

  • Do you guys have to provide certified documents (Driver's license, passport)?

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