Rabo Direct Savings Accounts
Compare RaboDirect savings accounts
Considering a savings account from Rabo Direct? The table below displays a snapshot of RaboDirect savings accounts on Canstar’s database, sorted by Star Rating. These results are based on a regular saver profile in NSW with $10,000 in current savings.
To see the definition of a regular saver and other profiles used in Canstar’s Star Ratings, view Canstar’s savings account methodology here. Or you can search our database for a savings account to suit your needs.
What savings accounts does RaboDirect offer?
Rabo Direct offers the following savings accounts at the time of writing:
High Interest Savings Account
This account offers a bonus introductory variable rate for the first four months (up to $250,000) on top of the standard variable rate.
A savings account with a higher rate of interest for savers who increase their balance by at least $200 each month.
This savings account requires savers to provide a minimum amount of notice before they can withdraw their money. Notice periods of 31, 60 and 90 days are on offer.
You can view the current interest rates on Rabo Direct savings accounts in our comparison tables.
Do RaboDirect savings accounts require a linked transaction account?
When applying for a RaboDirect savings account, you are required to have a bank account in your name with another financial institution in Australia. RaboDirect do not offer transaction accounts themselves.
You can compare transaction accounts with Canstar here to potentially find one that suits your requirements.
Does RaboDirect charge fees on its savings accounts?
Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. RaboDirect charges no account keeping fees on any of its savings accounts at the time of writing.
For more information on current fees and how they apply, please check the Product Disclosure Statement (PDS).
What does RaboDirect offer in terms of mobile banking for savings accounts?
RaboDirect offers both online and mobile banking for its savings products, with its app available in both the Apple and Google store. Notable features of RaboDirect’s mobile banking include:
- Check up to three account balances without logging in using the ‘Balance Peek’ feature
- Transfer money in, out, or between your accounts
- View account information, including transaction history, pending transactions and more.
How to apply for a RaboDirect savings account
Before applying for a RaboDirect savings account, consider comparing it against other savings accounts on the market to ensure it is the right one for you. You can then apply for a RaboDirect savings account online, provided you have the correct documentation:
- At least one form of ID, such as your driver’s license or passport
- Accurate personal information, such as your name, date of birth, address and phone number
- BSB and Account number of an existing bank account in Australia in your name
RaboDirect does not require you to make a deposit into the account before being activated.
Related article: How to change bank accounts
Before applying for a RaboDirect savings account, you will also have to meet the following eligibility requirements:
- You must be over 16 years of age
- You must have a residential address in Australia, and;
- You must have a bank account in your name with another financial institution in Australia
RaboDirect Australia is part of the Dutch Rabobank Group. It was founded in 1898 as a cooperative and specialises in offering banking services to farming and agri-business customers. Rabobank has become one of the largest financial institutions in the world and globally the Rabobank Group has more than 1,000 branches in over 40 countries.