This was posted 1 year 21 days ago, and might be an out-dated deal.

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High Interest Savings Account - 5.75% p.a. Interest on Balance up to $250,000 for 4 Months (New Customers Only) @ Rabobank

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High Interest Savings Account - 5.75% p.a. Interest on Balance up to $250,000 for 4 Months (New Customers Only) @ Rabobank
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Fat Horny Ghost on 01/11/2023 - 00:16 rabobank.com.au (961 clicks)
Last edited 16/11/2023 - 03:58

The highest interest savings account I can find at the moment to park your extra savings from things you haven't spent on Ozbargain

HomeMe is 5.5% but comes with 2k monthly deposit seen here

Spreadsheet Comparison of all Savings Accounts

Using this for 4 months then switching to next highest.

EARN 5.75% 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 @Monorail for previous deal at 5.50%.

If you find a higher and better interest account to park money please let us know.

Financial Bank Account Savings Account

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closed Comments

  • Zeee on 01/11/2023 - 00:45
    +3

    Home me doesn't require taps 4 times… Just put 2000$ then take out and grow home me

  • ssfps on 01/11/2023 - 01:54
    +1

    How does rabo stack up to other HISA banks like ubank, ing, macq? Customer service notably worse or better?

    • Fat Horny Ghost on 01/11/2023 - 09:00
      +1

      Have heard bad things about their KYC process which is outdated and slow if more complicated paperwork involved

      My account opened very quick though as I'm an Australian tax resident

  • Johan92912 on 01/11/2023 - 02:14
    +1

    Username checks out

  • MisterTree on 01/11/2023 - 05:08
    +2

    Not very well reviewed here…
    https://www.productreview.com.au/listings/rabobank

    • serbpie on 01/11/2023 - 06:10
      +1

      Thanks for the link.. I won't bother with them now

      • 1st-Amendment on 16/04/2024 - 14:25
        +1

        I won't bother with them now

        You make financial decisions based on anonymous reviews from the Internet? That doesn't seem like a very robust method…

    • cheekymonkey on 01/11/2023 - 09:20

      and what bank has great reviews on there?

      • MisterTree on 01/11/2023 - 23:29

        Judo and Bank Australia have 4+ ratings and pretty high term deposit rates.

    • Fat Horny Ghost on 01/11/2023 - 09:55

      Better stay away from Me, Up, CommBank then with lower rating reviews 😆

  • bargain_finder on 01/11/2023 - 07:42

    Does anyone have any experience with this "Digipass" that people are talking about in the reviews?

    • omblygombly on 01/11/2023 - 08:43
      +7

      Yeah, it's a pain in the gluteus Maximus. They send you cheap plastic device a bit smaller than a business card that you need to use for extra security to access your online account. I got mine about a week after applying for the previous bonus interest deal about 4 months ago. You need to put in a 5 digit pin and then the bank sends you a number that you need to copy to the banking page on your computer/tablet. This is on top of needing to manually put in your account number everytime. Why they can't just send the code to your phone? They say it's for better security. I've had my banking app on my phone for years, and never had an issue.

      • willyroo on 01/11/2023 - 09:20
        +2

        This - had the HISA and 30 day Notice account, just gave up and now use Macquarie for cash and short term savings.

        You cannot transact without the Digipass, which kinda crippled the product for us.

  • Furi8 on 01/11/2023 - 09:58
    +1

    So people with spare $250k+, is that the savings accumulated from all the years of OzBargain membership? ;-)

    • daanish on 01/11/2023 - 10:14
      +3

      Lots of Boost SIM cashback profits.

  • Josho on 01/11/2023 - 10:26
    +1

    Sign interest rates are on the rise again?

  • denserham on 01/11/2023 - 10:38
    +8

    If you are thinking of doing this I would wait until after Tuesday see if rates go up or not before signing up just in case, don't want to blow your intro rate if it is about to go up.

    • Fat Horny Ghost on 01/11/2023 - 13:11
      +1

      Good call 52% chance of increase predicted

    • SickDmith on 01/11/2023 - 16:29

      But how long it will take for Rabobank to pass it to OzBargainers?

      • denserham on 01/11/2023 - 17:04

        In the past it hasn't been too long.

    • rehangunna on 01/11/2023 - 18:00

      What do you mean by "blow your intro rate." Wouldn't the 5.6% be presumably bumped up to 5.xx% for the remainder of your 4-month introductory period? Or does it operate as a lock in rate?

      • denserham on 01/11/2023 - 18:37

        I think it gets locked in like Macquarie

        • rehangunna on 15/11/2023 - 15:06

          Update: subsequent to interest rates rising etc., Rabobank now offers 5.75%. It doesn't appear to be locked in, as my account (when looking at "Account Details" on the mobile app) says max rate is 5.75%

    • denserham on 21/11/2023 - 19:04

      I was wrong, it seems to go up with rate increases.

      So it seems that you are best off trying to open it as close to the start of the month as possible to maximize the days of bonus interest you are able to get out of this deal. But not sure how long it would take to setup an account if you have to wait for this digipass thing.

      • Fat Horny Ghost on 22/11/2023 - 23:47

        Took 2-3 days for digipass to arrive and instant setup a bit fiddly

  • ozvince on 01/11/2023 - 18:44
    +1

    I signed up for this bank last year but I won't recommend it as their app is very outdated and you have to wait till they send you the passcode device before you can activate your account too much effort!

    • ozvince on 01/11/2023 - 18:45
      +1

      I cancelled it after a few days activation

  • m0tyrider on 14/11/2023 - 11:49

    Anybody had any luck getting the rate extended?

  • Chimpus on 15/11/2023 - 15:04
    +1

    Looks like they've increased the rate to 5.75%

    • rehangunna on 15/11/2023 - 15:07
      +2

      Yep, and if you signed up at 5.6%, I believe it's automatically increased, rather than being locked in at 5.6% as some suggested

    • Fat Horny Ghost on 16/11/2023 - 03:58

      Beauty

  • payless69 on 30/11/2023 - 14:59

    Post honeymoon rate had been quietly dropped. So sad!

  • jasecutler on 03/06/2024 - 13:31

    When you are making your payments to your new Rabo bank account what's the name that comes up when you type in the BSB? I got this weird 3 letter acronym

  • PvsNP on 09/08/2024 - 13:16

    Terrible bank. Communication is hopeless.
    One rep says to do one thing and the next day another rep says something else.

    $1 to verify linked account and still no news about the account being opened.

    For some reason they don't like credit union accounts and unable to link it and they want to do it over the phone.

    All this hassle to just open and link an account. Can't imagine what they'll put you through when withdrawing.

    • Yola on 04/10/2024 - 07:30

      I had trouble linking with ubank. They could not see the word verify which I did write. But they were able to do it manually. Ask them to do that.

    • Ave Maria on 19/10/2024 - 19:46

      The problem is not Rabobank. Some Credit Unions/Banks use a different BSB code or even account number than the one received by Rabobank. You have to make sure that the $1 received contains "verify" in the description and the received account info matches the nominated acount details. Recently Great Southern Bank would not send them the "verify" in the description for non OSKO payments. An alternative method is to send customer service an email with a statement or letter from the bank showing the correct details and call the 1-800 number to sort it out. I found customer service to be easily accessible, with no long call waiting and always helpfull. Once set up you will never have any issue making payments out (via direct credit to nominated account) or payments in (direct debit from nominated account) although limited to business days. Rabobank used to be the best bank for Term Deposit rates, nowdays not so much. They also insist on paying peanuts for SMSF accounts (another way to kill the SMSF business instead of doing what UBANK did).

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