RaboSaver Earn
%
p.a.
On balances up to $5 million.*
RaboSaver makes it easy to move your money around into other accounts.
Features and benefits
Important Information
*Rabobank Online Savings terms, conditions and eligibility criteria apply. Interest rates apply to Individual, Joint and Children Savings Accounts, and are subject to change without notice. Interest rates apply to deposits up to $5 million. All interest rates shown are expressed as a percentage per annum (p.a.) before the deduction of taxes. Rabobank Online Savings does not currently offer a compounding interest option for Term Deposits. For interest rates on deposits over $5 million, please call us on 0800 22 44 33. Early withdrawal fees may apply.
^You can earn the premium rate of % on balances up to $100,000. Any balance above $100,001 up to $5 million, will earn the premium rate of %. To qualify for the premium rate, your PremiumSaver balance on the last calendar day of the month must be at least $50 higher than it was at the start of the calendar month (excluding interest earned for that month). If this requirement is not met, the base rate of % p.a will apply to your entire PremiumSaver balance for that month, up to $5 million.
Make saving a habit with a RaboSaver
When you open a new Rabobank Online Savings account, you'll also automatically get a RaboSaver account in your savings portfolio, ready when you need it.
We're here to help
Our friendly Client Services team is here to support you. You can also browse more frequently asked questions in our Support Centre.
A PurposeSaver account helps you organise your savings for different goals. Once you have a RaboSaver account, you can open up to five PurposeSaver accounts through internet banking and give each one a name that reflects your savings goal, such as Holiday, School Fees, Emergency Fund or Home Renovations.
PurposeSaver accounts have the same features and interest rate as a RaboSaver account. The main difference is that they allow you to separate your savings into dedicated goals.
You must have a RaboSaver account before you can open a PurposeSaver account. The RaboSaver acts as your main savings account and makes it easy to move money between your Rabobank savings accounts.
Once your Rabosaver account is opened, 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:
- Log into Rabobank Online Savings
- Click on ‘Accounts’ tab and scroll to the bottom of the page
- Click on ‘Open a new savings account’
- Then follow the instructions to open a PurposeSaver account
- 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.
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.
Transferring funds in
When you open an account with us, you are asked to accept our online direct debit authority. This allows you to transfer funds into Rabobank from your Nominated Account (a linked New Zealand registered bank account held in your name), all within our online banking system.
You can of course make deposits from any other bank account you hold, or have other people/organisations deposit funds into your account. Just use the facilities of your other bank or provide your account number to the other party.
As an online bank, it is not possible to make cash deposits.
Transferring funds out
When you withdraw funds they must always go back to your Nominated Account.
To make a transfer in or out:
1. Log into Rabobank Online Savings
2. Click on 'Transfer & pay’
3. Select the 'From' and 'To' accounts
4. Enter the transfer details e.g. date and amount.
5. Confirm the transfer by following the on-screen instructions
Interest is calculated daily and paid to your RaboSaver account at the end of the last calendar day of the month. The payment will be available to you on the first day of the new month.
It's rare for banks and other deposit takers to fail. But in the unlikely event of a failure, your money could be automatically protected up to $100,000. Find out more about how the Depositor Compensation Scheme protects your money.