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Built on the foundations of agribusiness by Dutch farmers some 122 years ago, Rabobank seeks to help clients feed the world more sustainably. Today, the Dutch multinational bank operates in Australia with four core businesses, focusing on rural financial services, agribusiness, corporate financial services and online savings.

What savings accounts does Rabobank offer?

High-Interest

Rabobank offers savers an enticing higher introductory interest rate for the first four months once a savings account is opened, with no deposit or withdrawal conditions to earn this rate.

Following the completion of the four months from the date the account is opened, the savings account will revert to Rabobank’s base rate.

Rabobank’s Head of Online Savings Julie Blanchard says Australians should choose a high interest savings account to help them achieve their savings goals sooner.

“The more interest you earn, the quicker your balance grows,” Ms Blanchard told Savings.com.au.

“It’s also beneficial to keep your savings separate from your everyday transaction account so that you’re less tempted to spend your hard-earned savings before you reach your savings goal.”

It’s important to note, the four-month bonus interest rate is only available on your first account so if you’ve already had a Rabobank high interest savings account previously, you won’t be eligible to receive the bonus interest again.

This account comes with no monthly fees or minimum balance requirements.


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  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance

High Interest Savings Account (< $250k)

  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
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PremiumSaver

Rabobank’s PremiumSaver account rewards savings habits, with bonus interest paid each month provided the balance grows by $200 or more.

“Our PremiumSaver pays a higher rate when you grow your savings balance by at least $200 – excluding interest – in a month,” Ms Blanchard said.

“Our High-Interest Savings Account (HISA) and PremiumSaver also provide convenient at-call access so you can transfer your funds out and use them the next business day.”

For Rabobank customers that miss out on the bonus rate in one particular month, customers can qualify again in the following month. Rabobank’s PremiumSaver has no restrictions on the number of withdrawals that can be made.

Notice Saver

Rabobank’s Notice Saver account requires customers to provide notice before dipping into savings.

The account comes with three options: 31, 60 and 90-day notice period.

After the customer provides notice and serves out the notice period, the funds will automatically transfer out of the account the following business day. While this account is similar to a term deposit, the Notice Saver allows savers to make regular contributions to continue to grow the savings balance. Also the interest rate is variable, while term deposit interest rates are fixed.

Interest is tiered on this account, with rates differing between notice periods and balance brackets. The highest rates on this account are for deposits up to $250,000. Higher balances earn lower interest rates.

Features of Rabobank savings accounts

Ms Blanchard notes there is no requirement to also open an everyday transaction account when opening a Rabobank savings account, unlike some other banks.

“All you need to do is open a savings account with Rabobank and transfer your funds across from your existing everyday transaction account that you hold with another bank,” she said.

“To access your funds from Rabobank all you need to do is transfer the funds back to your everyday account.”

Introductory rate

Rabobank offers a four-month introductory variable rate from the day the account is opened, after which the rate will revert to the account’s base rate.

Rabobank notes the introductory rate is variable and subject to change at any time.

Fee-free

Rabobank savings account rates are fee-free, meaning Rabobank customers are charged no monthly or annual fees for opening or maintaining a savings account.

No minimum balance

There is no minimum balance requirement for Rabobank customers to earn interest on their savings.

Digital-first

Rabobank savings accounts are digital-first, meaning customers can achieve savings goals online or via mobile banking.

ADI guarantee

As a registered ADI, all funds up to $250,000 with Rabobank are guaranteed by the Federal Government via the Financial Claims Scheme.

Supporting farmers and agribusiness

Supporting their foundations, money deposited with Rabobank aims to assist both Aussie farmers and agribusiness.

“Rabobank’s purpose is to help our clients feed the world more sustainably,” Ms Blanchard said.

“Deposits held by us are used to fund Australian farmers and agribusinesses.”

Rabobank savings account eligibility

To be eligible for a Rabobank savings account:

  • You must be at least 16 years old.

  • You must have a least one form of ID available (Australian driver’s license or passport).

  • You must have an Australian residential address.

Required documents

To open a Rabobank savings account, you will need the following:

  • An Australian bank account in your name with another financial institution.

  • A valid Australian driver's license or passport.

  • Your Tax File Number (TFN).

Image by Bart Ros via Unsplash