• long running

PremiumSaver Account 5.15% p.a. on Balance up to $250,000 (Grow Balance by $200/Month Required) @ Rabobank

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Earn up to 5.15% p.a. bonus interest variable rate on balances up to $250,000 when you grow your account balance by $200 or more before the last business day of each month (excluding interest paid in that month).

Balance Bonus interest rate (% p.a.)
Up to $250,000 5.15%
$250,001 to $1,000,000 3.50%
Over $1,000,000 3.50%

Somewhere to park your money after the 5.65% p.a. 4-month introductory offer finishes with the HISA (if you can grow the balance monthly). For comparison, the standard interest rate on the HISA is 3.95% p.a.

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Comments

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  • +1

    "I'm going to Robabank today."
    "Are you nuts?"

    • I'm new to banking ins and outs, what would be the reason to not park your money with Rabobank from your perspective?

      …Considering ING only allows 1 account per person with high interest rates? I'm looking for a 2nd high interest savings acc to segregate my expenses and savings.

      • just that their site and app are not the best to use, also the lack of osko, restriction to send only to nominated account and inability to transfer during weekends are a few.

  • +1

    Macq bank is still better for over 250k to 2m at 4.5% and no top ups required

  • … when you grow your account balance by $200 or more before the last business day of each month

    Pseudo- term deposit, in real-world application.

    Inherent rate of failure (i.e. lower effective interest rate averaged out), the banks know what they're doing.

    I value liquidity more (for my short-term allocation to cash, e.g. cashflow, emergency fund).

    Leave the hoops for the circus, let the monkeys perform.

  • -1

    I have both the HISA and Premium Saver. You can only link your nominated account directly to HISA and not the Premium Saver, which means an extra step to move your money. Also means you can't close HISA without closing the entire account to re-qualify as a new customer one day.

    • You can only link your nominated account directly to HISA and not the Premium Saver, which means an extra step to move your money.

      I have just 1 linked account within the Rabobank account, and both HISA and Premium Saver uses this linked account. My withdrawal and deposit from Premium Saver also goes through this nominated external account.

      This extra step .. I am guessing you are referring to something else?

      • You're right- the option is there, thanks. I misunderstood as the lady on the phone told me I couldn't link my nominated account to the Premium Saver when I asked to close my HISA.

        • It's not exactly that. Rabobank's T&Cs require all customers to keep the HISA open.

          If you close the HISA you must close the Premium Saver as well. Presumably because they don't want existing customers to get the introductory rate every 2 years.

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