Rabobank Term Deposits

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If you’re looking for a way to invest money for a set period at a fixed interest rate, then you might be interested in learning more about Rabobank’s term deposits.

What term deposits does Rabobank offer?

At the time of writing, Rabobank offers one term deposit product. Features include:

  • Minimum deposit of $5,000
  • Negotiable interest rates on deposits over $250,000

Compare Term Deposits

What terms are available on Rabobank term deposits?

According to Rabobank, it offers term deposits with terms (the length of time your money is deposited) typically ranging from a minimum of one month to a maximum of five years.

You can use Canstar’s term deposit calculator to help you work out what term length might be suitable for you. One factor to consider is that longer terms typically come with higher interest rates, but you would have to wait longer to benefit from the higher interest rate that can come with reaching the maturity date.

When deciding on a term deposit, it’s a good idea to carefully consider the length of the investment term, as some products may charge a fee and require a certain notice period if you need to access your money early.

When is interest paid on Rabobank term deposits?

Rabobank’s term deposits offer customers the choice of receiving interest payments at the following frequencies:

  1. Monthly
  2. Quarterly
  3. Half-yearly
  4. Annually

It’s worth remembering that the option you select may have an impact on the rate of interest you earn.

Canstar’s term deposit calculator can help you decide how you can maximise the interest paid on your term deposit.

Does Rabobank have a notice period and charge an early withdrawal fee for withdrawals?

At the time of writing, Rabobank requires you to provide notice of 31 days if you wish to access your money early.

Check upfront with Rabobank or consult the Product Disclosure Statement (PDS) for more information on any interest adjustments or other early withdrawal penalties that may apply.

Does Rabobank charge any other fees for term deposits?

At the time of writing, Rabobank does not charge any account-keeping or service charges on its term deposits.

For current information on fees and how they apply, please check the PDS or contact Rabobank.

How to apply for a Rabobank term deposit

Before applying for a Rabobank term deposit, aim to first compare it against other term deposits on the market to ensure it is the right one for you.

Compare Term Deposits

If applying, consider Rabobank’s eligibility criteria (below) and what you might need to have on hand, such as:

  • Your TFN (Tax File Number)
  • Proof of ID, such as your driver’s licence or passport
  • Personal details, including your residential address, contact information and potentially information on your current job

If you’re applying for a term deposit on behalf of a business, self-managed super fund or other type of entity or organisation, you may need to supply different documents to those listed above. The terms and conditions that apply to your term deposit may be slightly different.

To see if you can apply online for a Rabobank term deposit, just check to see if ‘apply online’ is ticked in Canstar’s term deposit tables and visit Rabobank’s website.

Eligibility criteria

According to Rabobank, when applying for a term deposit, you will need to meet the following eligibility criteria:

  • You must be investing a minimum deposit of $5,000
  • You must be willing to invest for a time frame within the minimum and maximum terms specified (see above)

What happens to a Rabobank term deposit when it reaches maturity?

According to Rabobank, when a term deposit reaches the end of its term you can nominate to repay or reinvest your investment returns in total or partial amounts.

If you do not provide instructions prior to maturity, Rabobank says it will deposit the funds into a call deposit (either a new call deposit or an existing call deposit if there is one in your name) on the same terms and conditions.

About Rabobank

Rabobank Australia and New Zealand is part of the global Rabobank Group, which specialises in food and agribusiness banking. It is one of Australasia’s leading agricultural lenders and a significant provider of business and corporate banking and financial services to the region’s food and agribusiness sector. The bank has 93 branches throughout Australia and New Zealand. According to Rabobank, it offers products that help Aussie farmers to grow, with 100% of its customers’ savings used to fund farmers and agribusinesses. Rabobank was founded in 1898 by Dutch farmers looking to support each other’s businesses and give rural communities access to financing.

Written by: Tamika Seeto | Last updated: September 1, 2021