Savings and Investments

You may request a transaction at any time but the applicable cut-off time will affect the date on which the transaction is processed. Current cut-off times from Monday to Friday, excluding public holidays, are:

• 9:00pm for new Term Deposits
• 10:00pm for Transfers (inward or outward)

For transfers from NoticeSaver accounts, the notice period begins on the day requested regardless of the cut-off time.

You can make changes up until the last business day before maturity.

We may, at our discretion, allow you to break the term deposit and return the funds to your Online Savings (RaboDirect) account.

Call us on 0800 22 44 33 or send a secure message with details of the term deposit you wish to break.

To send a secure message, log into Online Savings (RaboDirect) and click on the envelope icon top right hand side of screen then 'Create new message'.

We will then contact you to advise if the investment can be broken and if a fee will apply.

Once we have approved your request to break, and provided you with a break quote, confirmation from you to proceed must be received by 12.00pm on a business day to ensure it is broken that day.

The funds should be available in your Online Savings (RaboDirect) account by 5.00pm that evening. From there, you can transfer them back to your nominated account online by clicking 'Transfer and pay'.

Deposits in NZ banks are not government guaranteed.

Once the term deposit is set up, the details such as the amount, term and interest rate are locked in. You can always open additional term deposits with any balance of $1,000 or more.

Yes, a notice instruction can be cancelled at any time up until the last business day before the transfer is due.

1. Log into Online Savings (RaboDirect)
2. Click 'Transfer and pay’ button then select ‘Upcoming payments’
3. Select the NoticeSaver upcoming payment
4. Select 'Cancel'
5. Confirm the action with your Digipass

Note: Once the notice has been cancelled, and if you wish to load a new notice, the 60 day notice period will restart.

You can have one NoticeSaver account under each different account type you hold with Online Savings (RaboDirect). For example, if you have an individual account, a joint account, and an existing business account, you are able to open three separate NoticeSaver accounts.

Yes. You can open up to five PurposeSaver accounts which allow you to separate your savings if you have several goals in mind.

To open a PurposeSaver account:

1. Log into Rabobank Online Savings
2. Click on ‘Accounts’ tab and scroll to the bottom of the page
3. Click on ‘Open a new savings account’
4. Then follow the instructions to open a PurposeSaver account
5. Click 'Confirm'

Note: For legal and tax purposes these accounts will be in the same name as your RaboSaver account. To open an account in a different legal name you will need to complete an application for a new Rabobank Online Savings account.

Yes. Your funds are on call so you can make withdrawals at any time. Just keep in mind that this may affect your interest rate.

If your balance on the last business day of the month is not at least $50 more than it was at the start of the month (excluding any interest paid during the month), you will earn interest at the minimum rate.

For example: You start the month with a balance of $1,000. If you withdraw $200, this drops your balance to $800. You will need to deposit at least $250 by the last business day to bring your balance to $1,050 (opening balance + $50) and earn maximum interest.

To make a withdrawal:

1. Log into Online Savings (RaboDirect)
2. Click 'Transfer and pay'
3. Select the 'From' (PremiumSaver) and 'To' (Nominated) accounts
4. Enter the transfer details e.g. amount and date
5. Confirm the transfer with your Digipass

We do not offer compounding interest payments. Interest is paid back to the Online Savings (RaboDirect) account that credited the term deposit.

However, if you are investing in a term of 1 year or less you can choose to automatically reinvest the term deposit at maturity and capitalise the interest. The interest will automatically be added to the original sum and incorporated in the new term investment.

Yes. You can set up a regular transfer into your PremiumSaver from your Nominated Account.

1. Log into Rabobank Online Saving.
2. Click ‘Transfer and pay’ then select ‘Move money’.
3. Select the ‘From’ (Nominated Account) and ‘To’ (PremiumSaver) accounts.
4. Select recurring.
5. Enter the amount, date and frequency.
6. Confirm the transfer.

We recommend you set up a regular savings plan for the 26th of the month, or an earlier date that is convenient to you. Doing this will ensure that the money is received by us before the last business day of the month.

Rabobank has decided to no longer accept any new applications for business accounts through Rabobank Online Savings. Existing business customers will still be able to continue to bank with us as normal.

Yes. PremiumSaver interest rates are variable and are subject to change.

This depends on how the funds are transferred to your account.

If you transfer funds into your account using the Rabobank online banking system, a clearance period of three business days will apply. This is because the funds are direct debited from your Nominated Account and we need to ensure that the transaction will not be dishonoured before we make the funds available to you.

You will start earning interest immediately but you will not be able to transfer the funds until the funds have cleared.

If funds are transferred to your account using the services of another bank there is no clearance period. The funds will be available to use as soon as they reach your account.

NoticeSaver is a savings account with a variable interest rate, a Term Deposit is a fixed deposit with a fixed rate and period.

There are several key differences:

• The NoticeSaver interest rate is variable - a Term Deposit rate is fixed.
• NoticeSaver offers access to your money after the required notice period - a Term Deposit has a fixed investment period.
• NoticeSaver allows you to deposit money into the account whenever you like - a Term Deposit does not.

1. Log into your Online Savings (RaboDirect)
2. Go to’ Accounts’ then select the Term Deposit
3. Click the on the Term Deposit
4. At the bottom of the page click on ‘Manage term deposit maturity’
5. Choose your new reinvestment instructions
6. Confirm the change using your Digipass

You can make changes up until the last business day before maturity.

Before you can close your NoticeSaver account you will need to withdraw all the funds.

To make a withdrawal:

1. Click 'Transfer and pay'
2. Select your NoticeSaver in the 'From account' field
3. Choose where you would like the funds paid to
4. Enter the amount
5. Click continue
6. Confirm the transfer with your Digipass

Once the 60 day notice period has ended and the funds have been withdrawn, you can call us on 0800 22 44 33 or send a secure message instructing us to close the account by clicking on the envelope icon near the log out button then 'Create new message'. We will transfer any interest earned during the 60 day notice period to your RaboSaver account when the NoticeSaver account is closed.

You are welcome to keep the account open so you can use it again in future. It can stay open at a zero balance and doesn’t incur fees.

To close the account:

1. Log into Rabobank Online Savings
2. Go to ‘Transfer and pay’ then ‘Move money’
3. Select From account ‘PremiumSaver’ to ‘Nominated account’ or other Rabo account and amount will be the available balance in your PremiumSaver account.
4. Use your Digipass to confirm the transfer
5. Go to secure message by clicking on the envelope icon near the log out button then ‘Create new message’
6. Confirm in the message you would like to close your PremiumSaver
7. Click ‘Send’

We will then close the account and pay any remaining interest to your RaboSaver account.

Please call our friendly Wellington based Customer Contact Centre on 0800 22 44 33, between 8am and 6pm weekdays. They will advise the best available rate and create the term deposit on your behalf.

You can check your balance and see if funds need to be added to your PremiumSaver online.

1. Log into Rabobank Online Savings
2. Select the PremiumSaver account
3. Then select ‘rates and details’
4. You will see a message that you will either need to deposit $50 or your balance has been increased to earn the bonus rate.

If this says “… you need to increase your balance by $50.00 before the end of the month” then you will need to deposit $50 to earn the bonus rate.

The best way to ensure you earn premium interest is to set up a Regular Savings Plan. You can set up a Regular Savings Plan and make one-off deposits from your Nominated Account online.

1. Log into Rabobank Online Savings
2. Click 'Transfer and pay' then ‘Move money’
3. Select the 'From' (Nominated Account) and 'To' (PremiumSaver) accounts
4. Select ‘recurring’ the transfer details e.g. date and amount
5. Confirm the transfer with your Digipass

We recommend setting your Regular Savings Plan for the 26th of the month or earlier to ensure the funds are in your account by the last business day.

To make deposits from an account that is not your Nominated Account, just use the facilities of the other bank.

You can make deposits from your nominated account and any other bank accounts the business holds, or have other people/organisations deposit funds into your RaboDirect account. Just use the facilities of your other bank or provide your account number to the other party. It is not possible to make cash or cheque deposits.

To make a transfer from your Nominated Account:

1. Log into your
2. Click on 'Transfer and pay'
3. Select the 'From' and 'To' accounts
4. Enter the amount
5. Enter the date or select 'as soon as possible'
6. Confirm the transfer with your Digipass.

When you opened the account with us you provided a nominated bank account (an account in the same name at another bank) and accepted our online direct debit authority. This allows you to transfer funds into Rabobank Online Savings from this nominated bank account, all within our online banking system.

You can of course make deposits from any other bank account the Trust holds, or have other people/organisations deposit funds into the Rabobank Online Savings account. Just use the facilities of your other bank or provide your account number to the other party.

As we do not have branches, it is not possible to make cash or cheque deposits.

1. To make a transfer from your Nominated Account:
2. Log into Rabobank Online Savings
3. Click on 'Transfer and pay'
4. Select the 'From' and 'To' accounts
5. Enter the amount
6. Enter the date
7. Confirm the transfer with your Digipass

You can make one off transfers or set up a Regular Savings Plan from your Nominated Account online.

1. Log into Online Savings (RaboDirect)
2. Click 'Transfer and pay'
3. Select the 'From' (Nominated Account) and 'To' (NoticeSaver) accounts
4. Select if you would like a ‘once only’ or ‘recurring’
5. Enter the amount, date and frequency if required
6. Confirm the transfer

You or any other individual or organisation can deposits funds into your NoticeSaver account. Just use the facilities of your other bank or provide your account number to the other party.

Log into your Online Savings (RaboDirect) account 60 days before you want access to your funds and create a transfer.

1. Click 'Transfer and pay'
2. Select your NoticeSaver in the 'From Account' field
3. Choose where you would like the funds paid to
4. Enter the amount
5. Click continue
6. Confirm the transfer with your Digipass

Note: The date may be more than 60 days in the future due to the request being loaded after 4pm on a business day and/or the last day of the notice period falling on a non-business day.

We will need the new signatory to:

• complete our change of authorised signatory form, and
• provide certified identification and address evidence.

See our Identity Verification Checklist for identification options and a list of trusted referees who can certify these for you.

There's no limit on the number of notice instructions you can place as long as you have sufficient cleared and available funds in the account.

You will be able to open up to five PurposeSaver accounts which allow you to separate your savings alongside your RaboSaver account.

To open a PurposeSaver account:

1. Log into your Rabobank Online Savings
2. On the ‘Accounts’ tab scroll to the bottom of the accounts list
3. Then click on ‘Open a new savings account’
4. The follow the instructions by selecting the Trust account then PurposeSaver account.
5. Click 'Confirm'

Note: For legal and tax purposes these accounts will be in the same name as the RaboSaver account. To open an account in a different legal name you will need to complete an application for a new Rabobank Online Savings account.

Trust account holders can also open our 60 day NoticeSaver account.  

During the initial account opening process you are only able to set up one Term Deposit, however, once you receive your Welcome Pack and PIN you are then able to login and create as many Term Deposits as you wish.

Interest is calculated daily and paid on the last business day of each month. You can choose to have your interest paid back into NoticeSaver, or one of your other Rabobank Online Savings accounts.

You need to increase your previous month-end balance by $50 or more by the last business day of the month.

To make sure you don't miss out on premium interest, we recommend setting up a Regular Savings Plan.

To do this:

1. Log into Online Savings (RaboDirect)
2. Click 'Transfer and pay' then select ‘Move money’
3. Select the 'From' (Nominated Account) and 'To' (PremiumSaver) accounts
4. Select recurring
5. Enter the amount, date and frequency
6. Confirm the transfer with your Digipass

We recommend setting your RSP for the 26th of the month or earlier if convenient to you, to ensure the funds reach your account in time.

There is no minimum account balance for your PremiumSaver. The maximum account balance is $5,000,000. However, the maximum balance to receive premium interest is $100,000.

Balances between $100,000 and $5,000,000 will earn interest at the RaboSaver rate, providing the monthly balance increase is met. If the monthly balance increase is not met, the minimum interest rate will apply to all funds in the account.

To make a withdrawal from NoticeSaver you will need to load a transfer request and wait the 60 day notice period before receiving your funds. For this reason, we suggest that you keep some funds in your RaboSaver account in case you need them in a hurry.

If you are suffering from financial hardship, you can apply for the early release of your funds by completing our Financial Hardship Declaration and providing evidence of the hardship. We will consider your application and advise you if it has been accepted.

See the Financial Hardship Declaration for examples of hardship and the type of evidence required.

Tax will be deducted at your new tax rate when the next interest payment is made. For example, if you have a 6 month term deposit and change your tax rate part way through, tax will be deducted at your new rate when the interest is paid at maturity. It is not possible to deduct tax at two separate rates for one interest payment.

Interest is calculated daily and paid to your RaboSaver for Business account after the close of business on the last business day of each month. As such, interest payments will be available to you on the first day of the new month.

Interest is calculated daily and paid to your RaboSaver account on the last business day of the month. The payment will be available to you on the first day of the new month.

Interest is calculated daily and paid at maturity for terms of 1-9 months.

For terms of 1-5 years, you can choose to have interest paid monthly, quarterly, six monthly (excluding the 15 month term) or annually.

Interest is paid back to the Online Savings (RaboDirect) account that originally credited the term deposit. We are not able to pay interest back into the investment or directly to the nominated account.

Interest is calculated daily and paid to your PremiumSaver account on the last business day of the month. This means the interest will be included in the opening balance for the following month.

Keep in mind:

• Interest payments don’t count towards the minimum $50 balance monthly increase to receive premium interest.
• If you withdraw the interest, your balance will decrease and you may miss out on premium interest for that month.

Any individual authorised to act on behalf of the Trust can operate the Rabobank Online Savings account. This person will be acting as the authorised signatory on the account. They will have been issued the Digipass and will have authority to view the account details, initiate transfers and update account information.

There can only be one authorised signatory on a Trust account but this person can be changed at any time.

Any individual authorised to act on behalf of the business can operate the Rabobank Online Savings account. Authority is provided by the individuals who are in 'effective control' of the business by way of the application documentation requirements.

This person will be acting as the authorised signatory on the account. They have been issued with a Digipass and will have authority to view the account details, initiate transfers and update account information.

There can only be one authorised signatory on a business account but this person can be changed at any time.

As the official cash rate decreases and we also see movements in the cost for Rabobank to fund its lending through our other funding sources we review and adjust the rates we offer to customers on deposits. Rabobank’s deposit rates remain competitive relative to other banks.

You will be able to open up to five PurposeSaver accounts which allow you to separate your savings alongside your RaboSaver for Business account.

1. Log into your Rabobank Online Savings account
2. Click 'Savings' then 'Open a new savings account'
3. Select 'PurposeSaver'
4. Click 'Confirm'

Business account holders can also open our 60 day NoticeSaver account. Click here to find out more about this product.