This was posted 1 year 5 months 24 days ago, and might be an out-dated deal.

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High Interest Savings Account - 5.50%p.a. Interest on Balance up to $250,000 for 4 Months (New Customers Only) @ Rabobank

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High Interest Savings Account - 5.50%p.a. Interest on Balance up to $250,000 for 4 Months (New Customers Only) @ Rabobank
Go to Deal
Monorail on 07/07/2023 - 18:46 rabobank.com.au (316 clicks)
Last edited 15/07/2023 - 10:38

Edit - now 5.5% updated Ad on FB. Not the highest rate out there, but may be a good option for those like me unable/unwilling to meet deposit conditions, but who have already taken advantage of some of the other Honeymoon accounts (eg Macquarie).

EARN 5.50% 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.

Thanks @lawbee for previous deal at 5.15%.

Financial Bank Account Savings Account

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closed Comments

  • darkly on 07/07/2023 - 19:36
    +6

    FYI - Afterwards it is only 4.20%

    • Grok on 07/07/2023 - 21:55

      Thanks for checking

      Why don’t more large banks just offer a competitive rate of say 5% and cut out all the shenanigans? UBank can do it and they aren’t even the highest. Rabobank must think people will churn for 1.2% for four months and then forget to leave.

      Maybe they’re right.

      Where else can you put cash if you have maxed out UBank with similar condition to UBank?

      • sghetti on 07/07/2023 - 23:09
        +2

        I think the next best is probably Me Bank with slightly more hoops to jump through. $2000 deposit and grow balance (+$0.01)

        • Grok on 07/07/2023 - 23:29
          +1

          Yeah the growing balance restriction is a bit of a showstopper. Especially with Me at $2000 a month.

          The account then is effectively a term deposit with hassles, you remove $1 and you lose that months interest.

      • auri on 08/07/2023 - 09:55
        +1

        Maybe consider st george?
        Unfortunately need to increase balance as well.
        I split it into several accounts just in case i need to access some funds.

  • nuker on 08/07/2023 - 02:15

    I get 5.5% in ING

    • Meconium on 08/07/2023 - 08:40
      +2

      Only if you ensure you make five transactions per month, deposit a thousand and increase your savings balance without fail.

      • Grok on 08/07/2023 - 12:11
        +2

        Ridiculous conditions.

      • Pirateguybrush on 17/07/2023 - 18:51
        +1

        I've set up an automated $1000 monthly deposit into my ING account. Three days later, it transfers $995 back to my main (non ING) account, and $1 into my savings balance.

        The only thing I have to do manually is make 5 transactions.

        Once a month when I do a Coles shop, I do 5 split payments of $0.01. I have a monthly calendar reminder for this so I don't forget.

        It's a bit of a hassle to set it up, but once that's done it's very low effort.

  • Mad Max on 08/07/2023 - 13:36

    With Rabobank be prepared to waist a huge amount of time and send a lot of certified paperwork to their KYC mob.
    They are incompetent and relentless.
    And their preferred method of supplying all the personal and confidential information is scans of copies, certified by JP, through email. They say it is secure!

    • byrno on 22/07/2023 - 14:12

      I’ve had the exact same experience with ING. I’ve been trying to open my account there since January 2023! Many hours in total on the phone. Very frustrating, and it’s still not open yet.

      • Mad Max on 22/07/2023 - 15:03
        +1

        Yes ING is becoming just as bad.
        If everything goes well and you know the system enough so that you don't have to interact with a human, you will be ok.
        As soon as something goes wrong and you need to call them everything goes to sh!t.
        The problem is that they are all becoming like that. Even those that used to be good: Rabo, ING, ANZ. They are all hopeless now.
        Customer service doesn't exist any more. They do not care about complaints and bad reviews because they are all bad, so you don't really have a choice.

      • askvictor on 31/07/2023 - 11:07

        I had a (still active) savings account from a decade ago with ING. I went to open a transaction account to be eligible for the new savings offer, and they told me I had to send certified copies of everything. Never got back to me after those shenanigans, so went to another back with less futzing around.

  • rarelyscene on 14/07/2023 - 22:03
    +1

    5.5% now. This bank sends you a MFA token where you generate codes on rather than an app or sms.

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