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High Interest Savings Account 5.90% p.a. Interest on Balance up to $250,000 for 4 Months (New Customers Only) @ Rabobank

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High Interest Savings Account 5.90% p.a. Interest on Balance up to $250,000 for 4 Months (New Customers Only) @ Rabobank
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capslock janitor on 23/05/2026 - 14:20 rabobank.com.au (983 clicks)
Last edited 25/05/2026 - 16:19 by 1 other user

Rabobank will increase all variable interest rates on its personal and SMSF savings accounts by between 0.05% to 0.25% p.a., effective 13 May 2026.
https://www.savings.com.au/news/rba-savings-accounts-may-202…

Key Points
5.90% p.a. intro variable rate:

4.00% standard variable +1.90% bonus variable
Intro period: 4 months
Balance cap: up to $250,000

No account keeping fees
No minimum balance
Interest paid monthly
Australian Government deposit guarantee applies up to $250k per person

Positioning: Award-winning savings account (multiple Mozo, Finder & Money Magazine awards) that also supports Australian farmers.

Financial Bank Account Savings Account

Related Stores

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Comments

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  • michaelTito on 23/05/2026 - 14:29

    Damn. Any more rate hike, HISA will out perform every other investments

    • 0
      • michaelTito on 23/05/2026 - 15:14

        Let me guess you’re a crypto guru

        • 2
    • HoshinoKanade on 23/05/2026 - 22:59

      Was not tax efficient as interest taxed as income means 39%. Now CGT discount is gone and minimum tax is 30% with cost base inflation adjusted, makes HISA (risk free under 250k) becomes sounding choice

      • 3
      • bkksam on 24/05/2026 - 09:53

        That depends on your personal tax situation.Some will pay no tax on this income.

        • 2
      • Dr Phil on 24/05/2026 - 11:47

        Correct!
        And instead of holding shares, property, gold, silver, artworks etc for 12 months to get the 50% CGT discount, investors will simply become "traders" and buy and sell as the market opportunities dictates. Though paying full income tax on the sale. (if applicable as pointed out by bkksam above)

        Absolutely no incentive with this tax garbbing Labor Government to take the risk of holding for 12 months for a measily 4% indexdation of cost base only to pay the minimum 30% tax regardless of income tax level.

        This government has effectively killed off the incentive to hold all assets for capital gains.
        And that includes property!
        Investors will now simply churn property at a higher price at will.
        This doesnt help any first home buyers or renters at all who now face a wall of uncertainty

        Even worse for businesses who take very high risks and high cost to start and build a business, and in many cases mortgaging thier home to finance the business, only for this government to steal all rewards of all the hard work and effort…. watch businesess close thier doors now and unemployment to spike higher as a result.

        • -5
    • capslock janitor on 23/05/2026 - 14:48

      previously 5.65 https://www.ozbargain.com.au/node/953309

      • 2
    • tunzafun001 on 25/05/2026 - 15:11

      Hey @capslock janitor

      Do you know if the $250k gov protection is per account, or per institution?
      Just finishing up with Rabo, just above $250k..guess Ubank is next..Thought I should open more than 1 account…but it might make no difference?

      • 0
      • capslock janitor on 25/05/2026 - 23:05

        per banking licence/institution.
        ubank + NAB share the same ADI /banking licence (NAB)

        i read if you had a joint account with another person, could potentially up to $500K combined protected at that ADI since it's 250k per account holder
        NFA

        • 2
        • tunzafun001 on 25/05/2026 - 23:26

          Cheers. The $250k safety isn't what it used to be. With the ole Trumpster… need it more than ever…and doubled to match where money is now at.

          About to apply for Ubank. Phone rep said they need a selfie for ID these days as well. Can you confirm / deny that (thought that was only Bankwest)?

          • 0
          • capslock janitor on 25/05/2026 - 23:36

            @tunzafun001: can't remember, i opened my ubank yonks ago

            • 0
            • tunzafun001 on 27/05/2026 - 15:27

              @capslock janitor: Rabo's 5.4% (with $200 growth between 1st and last business day of the month) is not bad for a >$250k second account.

              *Nerver mind - I see you have already updated it.

              • 0
    • Guybrush57 on 23/05/2026 - 14:47

      Not only too lazy to undertake research, but too lazy to type a question mark.

      • 22
    • tenpercent on 23/05/2026 - 15:12

      and effective

      • 4
  • pjwellsey on 23/05/2026 - 14:38

    They are also honoring this rate with existing new customers

    • 3
    • bbqwer on 23/05/2026 - 14:47

      Not available where you have closed a Rabobank Online Savings account within the previous 2 years.

      • 1
    • Herbs on 23/05/2026 - 15:14

      honouring

      • 7
    • paablo84 on 23/05/2026 - 16:48

      What does “existing new customers” mean? Existing or new?

      • 3
      • Guybrush57 on 23/05/2026 - 18:32

        Not to be confused with new existing customers.

        • 4
      • capslock janitor on 25/05/2026 - 13:21

        am guessin current- new customers" from the preceding rate?

        • 0
    • dazzza on 23/05/2026 - 18:49

      How do you get them to honour this?

      • 1
  • lars06 on 23/05/2026 - 15:01

    Signed up for this a few days ago. It’s a bit of a painful user experience. Payments into the account take 2 days and you can only transfer out to one nominated account… Will use for the 4 months and then back to ME bank.

    • 9
    • Herbs on 23/05/2026 - 15:16

      As long as I initiate the transfer in (or out) before 3pm it shows up in the account (or the other bank account) around 8pm. The slight delay doesn't make a difference to me.

      • 2
    • tenpercent on 23/05/2026 - 15:17

      Are you sure it takes 2 days? Word on the ozbargain vine is it should be there same day if you transfer before noon.

      • 3
      • Iluvfreebies on 23/05/2026 - 16:28

        If you do it late Friday or on a weekend.it will be cleared on Monday.

        • 1
        • drift7rs on 29/05/2026 - 04:10

          shoot… i better get onto this early tomorrow!!!

          • 0
    • tman88 on 23/05/2026 - 17:57

      I usually transfer in on weekdays between 9-10am and it's in the account by around 2pm same day.

      • 5
  • reachdigital on 23/05/2026 - 15:17

    Hey OP are there any hoops ?

    • 0
  • Iggemo on 23/05/2026 - 15:43

    I can't believe i am churning in and out of savings accounts like they are NBN providers. It really is ridiculous but i guess it is what it is.

    • 15
    • zrach on 27/05/2026 - 01:22

      will moving around a lot affect the interest you get for the month? or what are the tips? move it on the 1st of the month?

      • 0
  • DrScavenger on 23/05/2026 - 15:43

    Why hasn't Judo updated their rate yet? :|

    • 2
    • Guybrush57 on 23/05/2026 - 15:44

      Maybe they want to judo chop their rates?

      • 1
    • Iluvfreebies on 23/05/2026 - 16:30

      yes. I am hoping they increase even by like 0.15%, they would still be the best.

      • 0
    • Herbs on 23/05/2026 - 16:37

      They went in hard, having a high rate to begin with, the result being that they captured alot of customers. They've probably crunched their numbers and are thinking that they can't financially sustain their compeitiveness so will either delay or not raise their rates, hoping their new customers are not churners.

      • 2
      • johnwickspuppy on 23/05/2026 - 17:39

        "hoping their new customers are not churners Ozbargainers"

        • 3
      • DrScavenger on 23/05/2026 - 19:02

        Well, they got time until the end of this month or I'll move everything out

        • 2
        • amorn on 25/05/2026 - 13:23

          same boat here. If I withdraw all (0 balance on 31 May), I still get 5.35 for everyday within May, right?

          • 0
          • DrScavenger on 25/05/2026 - 18:03

            @amorn: Thats how it should be. You only need to deposit $300

            • 0
  • Oztx on 23/05/2026 - 16:55

    How do they calculate the 4 months period?

    If I joined on Monday 25th of May. Will 4 months interest stop at 25th of the fourth month? And the rest of days in that month will be the regular rate?

    • 0
  • Bearlion on 23/05/2026 - 18:14

    Time to sell my investment properties, the negative gearing isnt worth negative growth in future years!

    • 0
  • ozbozb on 23/05/2026 - 19:47

    judo when

    • 0
  • tunzafun001 on 23/05/2026 - 20:17

    Home loan is 5.65%, savings account is 5.9%.

    Actually better to have money in the interest saver rather than the offset….

    What a world!

    • -3
    • whey4000 on 23/05/2026 - 20:38

      After you pay tax on your interest, no it's not

      • 4
      • tunzafun001 on 23/05/2026 - 21:08

        Hahaha.. what???

        Even if they take my nominal tax rate (say 40% of the interest), I'm still 60% of the rate difference better off.

        P.S. done quite a few trips around the sun..never have I seen this.

        • -4
        • jackwoz on 24/05/2026 - 09:10

          Im not sure thats how it works. You might want to re-run your numbers.
          You pay 40% tax on the final figure

          • 2
          • tunzafun001 on 24/05/2026 - 11:19

            @jackwoz: Sorry, should have mentioned an investment property loan.

            Don't do this with a PPOR loan.

            Never in history have I seen this.

            • 0
  • capslock janitor on 23/05/2026 - 20:37

    Nice

    • 0
  • Sylke on 24/05/2026 - 10:30

    DONT FORGET TO PUT "VERIFY" IN THE DESCRIPTION OF YOUR FIRST TRANSFER INTO RABO - OR YOU NOMINATED ACCOUNT WONT ACTIVATE 😁
    *Thats the nominated withdrawal account

    • 4
  • Sylke on 24/05/2026 - 10:35

    Rang Judo and tranfered out to RABO , they told me the interest rate increase "was being considered"…. too slow!

    • 2
  • Vanjane on 24/05/2026 - 12:34

    So, there are no hoops whatsoever for this account? I currently have everything in macquarie. Just working out if there is any downside to moving it all over.

    • 0
  • tinsoldier on 24/05/2026 - 21:53

    Dont get caught out by their interest qualification policy which means you MUST grow the account every month. If you take any money out and cant replenish it you will lose your interest until you can top it back up. Its actually pretty nasty and a lot of the hisa are doing this now.

    • -2
    • Vanjane on 25/05/2026 - 08:46

      Are you sure this applies to the high interest savings account? I cant see any reference to that condition.

      • 1
    • DoctorCalculon on 25/05/2026 - 13:22

      Grow balance by $200 each month only applies to a Rabobank Premium Saver account.

      • 3
  • gadgetguy on 27/05/2026 - 08:51

    So does the 1.9% bonus reduce or get removed completely after the 4 months?

    • 0
  • wonderboy on 27/05/2026 - 14:17

    How long does it take for the application to go through?

    • 0
    • delben on 27/05/2026 - 14:41

      My accounts were opened 5 minutes after submitting my application. I applied on a weekday.

      • 0
      • wonderboy on 27/05/2026 - 15:18

        Thanks. Applied in the morning but nothing yet. Getting technical error messages when I put the customer number to update the application.

        • 0
        • delben on 27/05/2026 - 15:42

          No problem. I suggest you give Rabobank a call to assist you with rectifying the issue. I have called them on three occasions, including before and after my accounts were opened to get a few things clarified, and all my calls were answered within a couple of minutes and all three CSR's were very helpful.

          • 1
          • wonderboy on 27/05/2026 - 16:01

            @delben: Called after I first commented and they had no details on the customer number I got. Made a new application and got the accounts in 5 minutes too.

            • 0
            • delben on 27/05/2026 - 16:07

              @wonderboy: Glad you got it sorted but it is a bit concerning that they had no details of your initial customer number.

              • 0
    • johnwickspuppy on 08/06/2026 - 10:19

      I stuffed up my application and it took several days but it was my fault. I followed the instructions provided to me and the staff were helpful. It was worth it for the rate.

      • 0
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