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.

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 RaboDirect savings accounts.

Before you can close your NoticeSaver account you will need to withdraw all the funds.
To make a withdrawal:

1. Click 'Transfers'
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Once the 60 day notice period has ended and the funds have been withdrawn, you can call us on 0800 22 44 33 or send a secure message instructing us to close the account by clicking on the envelope icon (top right hand corner) to open secure message. We will transfer any interest earned during the 60 day notice period to your RaboSaver account when the NoticeSaver account is closed.

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.

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 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.

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.