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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

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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
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lawbee on 15/03/2023 - 13:25 rabobank.com.au (1193 clicks)

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.

Financial Bank Account Savings Account

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Rabobank
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closed Comments

    • lawbee on 15/03/2023 - 13:27
      +15

      some people may have more than $50k

      • payless69 on 16/03/2023 - 22:30

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

    • puffinfresh on 15/03/2023 - 13:51
      +9

      Some people might be over 35

    • whtsthenews on 15/03/2023 - 14:52
      +7

      Lol, I like your profile name….

  • Matt99 on 15/03/2023 - 13:36
    +11

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

    • sabby32 on 15/03/2023 - 17:02
      +4

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

      • rogsamsy on 16/03/2023 - 08:38
        -2

        *maths

        • sabby32 on 17/03/2023 - 14:42
          +1

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

    • bob19 on 16/03/2023 - 03:46
      +3

      After 4 months you can move elsewhere

      • SuperLate on 17/03/2023 - 15:14
        +2

        Is it easy to move your money from Rabos ?

  • busterau on 15/03/2023 - 13:45

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

  • CyberMurning on 15/03/2023 - 13:50
    +6

    still using the physical token ? its annoying

    • puffinfresh on 16/03/2023 - 11:00
      +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.

      • Yola on 17/03/2023 - 19:13

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

    • Bristhrifty on 17/03/2023 - 09:13

      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.

  • bleugh on 15/03/2023 - 14:06
    +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

    • sween64 on 15/03/2023 - 16:43
      +2

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

    • Bristhrifty on 17/03/2023 - 09:15
      +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.

      • kcome on 17/03/2023 - 16:12

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

        • Kabal on 18/03/2023 - 09:29
          +1

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

        • Bristhrifty on 19/03/2023 - 17:18

          Qld country bank

  • Weshouldgetsushi on 15/03/2023 - 14:08
    +2

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

    • lawbee on 15/03/2023 - 14:57

      $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

    • bob19 on 16/03/2023 - 03:50

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

      • Weshouldgetsushi on 16/03/2023 - 10:31

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

        • bob19 on 19/03/2023 - 05:08
          +1

          My call was answered within 2 minutes

  • AstroPhysic on 15/03/2023 - 15:49
    +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!

    • lawbee on 15/03/2023 - 16:13
      +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

      • AstroPhysic on 15/03/2023 - 16:18
        +2

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

      • ryano9 on 15/03/2023 - 19:58

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

        • AstroPhysic on 15/03/2023 - 20:25
          +2

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

      • bob19 on 16/03/2023 - 03:53

        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.

      • Bristhrifty on 17/03/2023 - 09:15

        yeah i was so surprise about this too!

        • Yola on 17/03/2023 - 19:16

          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.

  • unifex on 15/03/2023 - 22:38
    +2

    only 2% below inflation

  • Tsounami20 on 16/03/2023 - 12:45

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

    • lawbee on 16/03/2023 - 13:04
      +1

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

    • Bristhrifty on 17/03/2023 - 09:17
      +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.

  • payless69 on 16/03/2023 - 22:28
    +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?

  • mehow on 17/03/2023 - 10:59
    +2

    bye bye Macquaire

    • payless69 on 17/03/2023 - 14:07

      Gretel will be sad.

  • mehow on 17/03/2023 - 10:59

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

    • lawbee on 17/03/2023 - 11:02
      +1

      immediately

    • puffinfresh on 17/03/2023 - 11:31
      +1

      Mine was the day after applying

  • mehow on 17/03/2023 - 15:48
    +1

    took a few hours once opened online

  • hawkeye93 on 01/04/2023 - 15:04

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

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