Our Term Deposits are available for terms ranging from 1 month up to 5 years with a fixed rate of interest that can be paid monthly, quarterly, half yearly or yearly depending on the term selected. You can have as many Term Deposits as you like, the minimum investment amount is $1,000 and you can have up to $2 million in a particular term at any one time. The interest rate will vary depending on the interest payment frequency chosen on your Term Deposit. View current rates and payment options on the Term Deposit page on our website.
All Term Deposits are also set-up with a High Interest Savings Account (HISA) to be your 'primary account'. Your HISA is connected to your Linked account, via which you deposit money in and take money out of your Rabobank Online Savings account(s).
New customers can open a Term Deposit by clicking on ‘Apply For Savings Account’ from our home page and follow the on screen prompts. If you are an existing customer, there’s no need to apply for a new account, simply log in to your account, click on ‘Open a new Savings account or Term Deposit’ which can be found in the top right hand corner, then select ‘Term Deposit’. You can also watch this helpful step by step video on how to open and manage a Term Deposit:
There are no fees for our Term Deposits however early termination fees apply along with 31 days (calendar days) advance notice is required to break a Term Deposit before maturity. Please refer to the Terms and Conditions for details.
Flexible reinvestment options that can be changed up until 4pm Sydney time the business day before the Term Deposit matures include:
If you select automatic re-investment, the applicable interest rate at the time of re-investment will apply to the new term. For investment periods of less than 1 year, interest is paid on the maturity of the Term Deposit. For investment periods of 1 to 5 years, interest can be paid monthly, quarterly, semi-annually and annually depending on interest payment frequency selected.
When you provide notice on a Notice Saver account, you can choose for the funds to be transferred into your High Interest Savings Account or your nominated linked account. All withdrawals require you to set-up a transfer notice.
To do this, log in to Rabobank Online Savings Internet Banking or the Mobile App and follow the steps below. Please note, all notices must be received before 6pm for the notice period to start on that day. Your transfer will automatically happen on the next business day after your notice period has passed.
There is no limit on the number of notice instructions you can place as long as you have sufficient cleared funds in the account.
Place notice on your Notice Saver:
To check the release date of your funds:
To cancel the notice on your Notice Saver:
You can also change the interest account on your Notice Saver:
Unfortunately we can't release your funds early as the terms & conditions of your Notice Saver account require that 31, 60 or 90 days' notice is provided and served to withdraw funds from your account.
If you are experiencing financial hardship and require urgent access to your funds, please contact our team so we can discuss your options.
We may, at our discretion, allow an early withdrawal from a Notice Saver Account based on one of the following grounds:
If these circumstances relate to you, before we are authorised to release your funds, we will need to receive documentation that supports your hardship claim, for example, a bank statement, a rental bond agreement, medical documentation relating to surgery or other supporting documents.
If you apply for an early release of funds, the statutory declaration must be completed by you and signed by an authorised witness. A list of these witnesses are included on the form. You may also include any supporting documents that you’d like us to take into consideration.
Please post all documents to:
Rabobank Online Savings
GPO Box 4715
Sydney NSW 2001
Once your documentation is received, we’ll review your request and update you by phone within 2 business days.
If your request is extremely urgent, please don't hesitate to call us on 1800 445 445 or email us at clientservicesAU@rabobank.com
If you want to change a withdrawal instruction on your Notice Saver Account, including changing the withdrawal amount and designated account, you'll need to cancel your standing instruction and then re-enter a new withdrawal instruction.
The notice period will then need to be served again in full. If you do wish to cancel a notice instruction, you will need to make the change prior to 12am the day before the transfer is due.
Yes, to view your matured Term Deposits, simply log in to your account and scroll down on the ‘Accounts’ tab then click on ‘Show Matured Term Deposits’ You can also watch this helpful, step by step video on how to manage your Term Deposit.
The Notice Saver account encourages you to keep your savings and avoid impulse purchases or withdrawals as you are required to provide and serve the notice period prior to making any withdrawals. There are 3 Notice Saver accounts to choose from, each with a different notice period: 31, 60 or 90 days and you can have up to one of each per entity type (individual, joint and SMSF). It is a variable rate product, with no fees and no minimum balance requirements. You can choose to have the interest paid into the Notice Saver (by default) or have it paid into your High Interest Savings Account.
You can deposit money at any time between your Linked account with your other bank and your Notice Saver using the BSB and account number or use our direct debit option to transfer money in from your nominated linked account once it has been verified. Please remember, when transferring funds into a Notice Saver, you must provide notice and wait out the notice period before making withdrawals.
New customers can open a Notice Saver by clicking on ‘Apply For Savings Account’ from our home page and follow the on screen prompts. If you are an existing customer, there’s no need to apply for a new account, simply log in to your account, click on ‘Open a new Savings account or Term Deposit’ which can be found in the top right hand corner, then select ‘Notice Saver’. You can also watch this helpful step by step video on how to open a new savings account:
Interest is calculated daily on the available account balance and paid monthly. There are three tiers and the Notice Saver interest rates offered depend on which Notice Saver you choose (31, 60 or 90) and your account balance. These tiers apply to all personal, joint and SMSF accounts;
Tier 1: for account balances up to $250,000
Tier 2: on the portion of your balance between $250,001 and $2million
Tier 3: on the portion of your account balance which is above $2million
Click here to check current personal interest rates or Click here to check current SMSF interest rates.
To check to see which interest rate your Notice Saver is earning, log in to your account and click on Notice Saver then select the ‘Rates & Details’ tab.
The introductory variable rate offer is available for new customers or customers who have had a closed account for 3 years or more. The introductory variable rate commences on the day your BSB and account number are issued, runs for a period of 4 months and rates are subject to change. There are no restrictions on deposits and withdrawals during the 4 month period as rates are calculated daily on the available account balance and paid monthly.
The introductory variable rate is available for personal & SMSF customers and is applied once per entity (individual, joint & SMSF) on balances up to $250,000. Any portion of account balances greater than $250,000 earns the standard variable rate for that tier. After the introductory 4 month period, all balances revert to the current standard variable rates on those tiers.
Please refer to the ‘My Rates’ page for details.
Automatic reinvestments can be cancelled online, please ensure this is done 1 business day before the automatic reinvestment. You can also watch this helpful, step by step video on how to manage your Term Deposit or follow the steps below:
Simply log in to your account, on the ‘Accounts’ tab scroll down to the list of 'Term Deposits' then click into the Term Deposit that you want to cancel the reinvestment. Scroll to the bottom, select ‘Manage reinvestment options’ then change to ‘Don’t reinvest now’.
If you are trying to cancel this on the day of the automatic reinvestment, please call us before 3pm (Sydney time) on 1800 445 445.
To request early withdrawal of a Rabobank Online Savings Term Deposit, please call us on 1800 445 445, from 10:30am to 3:30pm (Sydney time) Monday to Friday and we will arrange this for you. Please be aware that a 31 day notice period (unless your maturity date is sooner) plus an early termination fee will apply, these are detailed in our Terms and Conditions.
You can close any accounts you hold with Rabobank Online Savings in one of three ways, however all options require you to have a nil or very minimal balance before we can proceed with your request.
If you're unable to meet the requirement to grow your balance by the last business day, you'll still receive interest for that month, however it will be at the lower PremiumSaver rate. For current personal interest rates, click here or for current SMSF rates click here.
You'll still need to provide the required notice period as per the account terms and conditions and then transfer the funds once they become available.
The High Interest Savings Account (HISA) is our primary account which all customers are required to have when combined with any of our Online Savings accounts or Term Deposits. It is a variable rate product, with no fees, no minimum balance requirements and no minimum term. You can transfer money any time between your Linked account with your other bank and your HISA using either the BSB and account number or our direct debit option to transfer money in from your nominated linked account once it has been verified. From your HISA you can also instantly transfer funds into any of your other Online Savings accounts or to open Term Deposits.
Customers can only open one HISA per entity type (individual, joint and SMSF). If you have more funds to invest and would like to maximise your interest we have a range of savings products that may meet your needs. More information about these products can be found on our website.
Interest is calculated daily on the available account balance and paid monthly. There are three tiers and the HISA interest rate offered depends on your account balance. These tiers apply to all personal, joint and SMSF accounts;
Tier 1: for account balances up to $250,000
Tier 2: on the portion of your balance between $250,001 and $1million
Tier 3: on the portion of your account balance which is above $1million
Click here to check current personal interest rates or Click here to check current SMSF interest rates.
To see exactly how much interest you're earning, log in to Internet Banking and click ‘view rates’ next to your High Interest Savings Account on the home page.
The PremiumSaver account rewards good savings habits with a higher interest rate. If you increase your net balance by at least $200 (or $2000 if you have a business account) excluding interest before the last business day of every month,you'll earn the higher variable interest rate. The PremiumSaver is a variable rate product, with no fees, no minimum balance requirements and no minimum term. You can transfer money any time between your Linked account with your other bank and your PremiumSaver using the BSB and account number, or use our direct debit option to transfer money in from your nominated linked account once it has been verified. You can also set up a regular savings plan so you don’t forget.
Customers can only open one PremiumSaver per entity type (individual, joint and SMSF). New customers can open a PremiumSaver by clicking on ‘Apply For Savings Account’ from our home page and follow the on screen prompts. If you are an existing customer, there’s no need to apply for a new account, simply log in to your account, click on ‘Open a new Savings account or Term Deposit’ which can be found in the top right hand corner, then select ‘PremiumSaver’. You can also watch this helpful step by step video on how to open a new savings account:
Interest is calculated daily on the available account balance and paid monthly. There are three tiers and the PremiumSaver minimum and maximum interest rates offered depend on your account balance. These tiers apply to all personal, joint and SMSF accounts;
Tier 1: for account balances up to $250,000
Tier 2: on the portion of your balance between $250,001 and $1million
Tier 3: on the portion of your account balance which is above $1million
Click here to check current personal interest rates or Click here to check current SMSF interest rates.
To check which interest rate your PremiumSaver is earning and if you need to add to your balance, log in to your account and click on PremiumSaver then select the ‘Rates & Details’ tab. You can also check this helpful video:
Your introductory rate offer starts as soon as you receive your BSB and ACC number and you can start to fund your account straight away. Please note; any applicable introductory interest rate offers start on the day the account is opened, not from the date the account is funded.
Rabobank does not issue reminders when the introductory variable rate is ending, however you can view the rates applicable to your account an any time via your internet banking or mobile app.
