There’s no minimum balance required for your PremiumSaver account. The maximum account balance is $5 million. To qualify for the applicable PremiumSaver rate, your account balance must increase by at least $50 during the month (excluding interest earned for that month). The premium rate you earn depends on your balance tier, with one rate applying to balances up to $100,000 and separate rates applying to balances from $100,001 up to $5 million and above $5,000,001.

If the required $50 monthly balance increase is not achieved, the base rate will apply to your entire PremiumSaver balance for that month, up to $5 million. See the PremiumSaver rates table for value tiers and current rates.

The best way to ensure you earn the premium rate 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 Online Savings
2. Click 'Transfers'
3. Select the 'From' (Nominated Account) and 'To' (PremiumSaver) accounts
4. Enter the transfer details e.g. date and amount
5. Confirm the transfer by following the on screen instructions

Rabobank transfer times should be considered when setting up a payment. 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 calendar day of the month. To make deposits from an account that is not your Nominated Account, initiate the payment from your other bank.

Important: Any internal Rabobank account transfers, for example, from your RaboSaver to your PremiumSaver account needs to be processed before the last business day of the month. Use the 'Transfer money’ feature via both Internet and Mobile Banking if you have direct debits enabled. To enable direct debit functionality please contact our Client Services team on 0800 22 44 33, Monday to Friday between 8am and 6pm.

You can check how much you need to increase your balance by to earn the premium rate in Internet Banking or the Mobile App:

1. Log in to Rabobank Online Savings or the Mobile App
2. Select the PremiumSaver account
3. Then select ‘Rates & details’
4. You'll see a message showing how much you need to increase your balance by (excluding any interest paid into the account) to qualify for premium interest.

For example: If the message says, "Increase your balance by $95.00 before the end of the month to earn the maximum rate", you'll need to deposit an additional $95.00 before month-end to qualify for the maximum interest rate.

See the PremiumSaver rates table for current interest rates.

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

Keep in mind:

1. Interest payments don’t count towards the minimum $50 balance monthly increase to receive the premium rate.
2. If you make a withdrawal, your balance will decrease and you may not qualify for the premium rate that month. To qualify for the premium rate, your balance on the last calendar day of the month must still be at least $50 higher than it was at the start of the calendar month (excluding interest earned for that month).
   

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

To close the account:

1. Log into Rabobank Online Savings
2. Transfer your remaining balance out using the 'Transfer & pay' button
3. Click the envelope icon top right next to the log out button then select ‘Create new message’
4. Provide the name or suffix of the account you wish to close
5. Click 'Send'

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

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

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

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

Yes. Your funds are on call so you can make withdrawals at any time. However, withdrawals may affect whether you qualify for the premium rate for that month.

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 will apply to your entire PremiumSaver balance for that month, up to $5 million.

To make a withdrawal:
1. Log into Rabobank Online Savings
2. Click 'Transfer & Pay'
3. Select the 'From' (PremiumSaver) and 'To' (Nominated) accounts
4. Enter the transfer details e.g. amount and date
5. Confirm the transfer by following the on-screen instructions

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 will apply to your entire PremiumSaver balance for that month, up to $5 million.

To help ensure you meet this requirement, we recommend setting up a regular savings plan.

When scheduling payments, please allow for transfer processing times. We recommend setting your Regular Savings Plan for the 26th of the month or earlier to ensure the funds are credited to your account before month-end.

If you're making a deposit from an account that is not your Nominated Account, you'll need to initiate the payment from that external bank.

Important: for transfers between your Rabobank accounts (for example, from a RaboSaver to a PremiumSaver account), the transfer must be completed before the last business day of the month to count towards your month-end balance. You can transfer funds using the 'Transfer Money' feature in Internet Banking or the Mobile App if direct debits are enabled on your account.

To enable direct debits, please contact our Client Services team. For existing customers the easiest way to get in touch is to log in to the Rabobank Online Savings NZ app, tap the top-right menu, select ‘Contact Us’ to call us. Calling through the app helps us verify your identity more efficiently, allowing us to assist you faster. Alternatively, call our team on 0800 22 44 33, from 8am to 6pm weekdays (excluding public holidays).

Yes, but you'll need to make up for any interest you withdraw.

Interest paid into your PremiumSaver account does not count towards the balance increase required to earn the premium rate. If you withdraw your interest during the month, you'll need to deposit enough funds to replace the amount withdrawn, plus increase your balance by at least $50 (excluding interest earned for that month) by the last calendar day of the month.

For example: If you withdraw $20 of interest, you'll need to deposit at least $70 during the month to remain eligible for premium interest ($20 to replace the withdrawn interest, plus $50 growth).

To qualify for premium interest, your PremiumSaver balance must be at least $50 higher than your previous month-end balance by the last calendar day of the month (excluding any interest paid to the account).
To help ensure you meet this requirement, we recommend setting up a Regular Savings Plan.
When scheduling payments, please allow for transfer processing times. We recommend setting your Regular Savings Plan for the 26th of the month or earlier to ensure the funds are credited to your account before month-end.

If you're making a deposit from an account that is not your Nominated Account, you'll need to initiate the payment from that external bank.
For transfers between your Rabobank accounts (for example, from a RaboSaver to a PremiumSaver account), the transfer must be completed before the last business day of the month to count towards your month-end balance. You can transfer funds using the Transfer Money feature in Internet Banking or the Mobile App if direct debits are enabled on your account.
To enable direct debits, please contact our Client Services team on 0800 22 44 33, Monday to Friday, 8am–6pm.