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RaboPlus - 7.30% Interest on Saving Account (4 March 2008)

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RaboPlus - 7.30% Interest on Saving Account (4 March 2008)
scotty on 04/03/2008 - 16:44 (www.raboplus.com.au)
This entry was posted 274 days ago

Just got an email from RaboPlus:

Just a quick email to let you know that effective today, 4th March 2008, RaboPlus has increased the rate on your high interest savings account to 7.30% pa on call.

The increased rate is available to both current and new customers, and for all account types including personal, trusts, businesses and self managed super funds (SMSFs).

This new rate has already been applied to your current savings balance. You can take further advantage and transfer new funds by logging in to your account at www.raboplus.com.au.

That’s a quick response to RBA’s decision today.

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POWERevolution on 04/03/2008 - 17:15

Good new but hope they’ll go up 7.5% like Bank West honey moon period.

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1 ozpete on 04/03/2008 - 21:28

Yes but weren’t they 7,15% before the rate rise of .25%, so my math would make that 7.40%.

And then the rate rise before that was from 7.05 to 7.15% so in effect they skipped a .25% rise

Not nice…..

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1 bevisaurus on 06/03/2008 - 00:11

thats an interesting observation.

i only joined rabobank because of the $100 deal. having said that, i am quite happy with what they have to offer. heaps better than where my money was previously parked - commbank!

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Horizon on 04/03/2008 - 22:08

BankWest @ 7.5% for the last week or two is a much better deal, especially as it will probably go up again after today’s RBA interest rate rise.

Try a bit harder RaboBank!

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1 scotty on 04/03/2008 - 22:17

Again, BankWest’s 7.5% is the honeymoon rate, and for some of us who have already parked their money at BankWest for over 1 year, RaboPlus offers a better rate.

And according to a friend of mine who worked for RaboBank, they are trying very hard :)

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Horizon on 05/03/2008 - 08:48

Good point.

We’ve just opened a BW a/c so still have a year to run.

I expect 2008 to unfold as a very interesting year, with lots of twists & turns, and continuing competition and upward pressure on interest rates.

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1 HueyCobra on 05/03/2008 - 06:48

Is this the highest (non-honeymoon rate) saver in town? ING is starting to look dated (6.65%!).

Anyone here with RaboPlus?

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1 foundit on 05/03/2008 - 10:10

ING is looking very dated.
Even my ANZ Online Saver, and that’s a big 4 bank, is now paying 7.25%.

But I also bank with Raboplus, so they get the majority of my savings for now.

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Bargain4U on 05/03/2008 - 16:00

Don’t you mean 6.75%?

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1 foundit on 06/03/2008 - 09:22

Just checked the INGdirect.com.au and for the savings account it definitely says

High variable interest rate of 6.65%pa (as at 18/2/08)

6.75% is the 30 day term deposit

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Bargain4U on 06/03/2008 - 16:09

Sorry, I meant the ANZ Online Saver is 6.75%.

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1 foundit on 06/03/2008 - 20:34

Hi Bargain4U,

did you check the account details today?

Log on, in the left menu, 3rd option Cheque/Savings, select your saver and click on View account details.

I checked the day the RBA raised the rate and mine is 7.25%
Just checked again and it still is.

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onetom2010 on 05/03/2008 - 10:28

MemberEquity offers 7.5% interest. the best deal so far.

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dansor on 05/03/2008 - 10:51

I have to say I love BankWest. Everytime they pass the full amount of interest rate increase to their depositors. when RBA increases by .25%, Bankwest follows…

BankWest has moved quickly to pass on the RBA’s official cash rate, lifting the introductory rate on its TeleNet Saver by 25 basis points to 7.75 per cent and its ongoing rate to 7.25 per cent. Determined to retain its market leading position on deposit rates, the bank has increased the rate on its Regular Saver account by 100 basis points to 9.0 per cent. The Head of Products and Strategy at BankWest, Selina Duncalf, said that the bank is focussed on acquiring customers through competitive products and that its competitive lead on deposit rates would be maintained.

(infochoice.com.au)

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Gav on 06/03/2008 - 16:28

If they offer me some $$$ I’ll sign up! :) Damn I wish that $100 deal would pop up again.