Business High Interest Savings Account

The major banks and their low interest accounts are stealing your dreams

Steal them back with RaboDirect

Great news!  You'll automatically get a Special introductory variable rate of 4.45%p.a. on balances up to $1 million when you open a RaboDirect business account. 

All you need to do is put your savings into your shiny new account and we will look after the rest for four months from the day you open your account.

• After your first four months, you'll get our fabulous standard variable rate.

• Special introductory variable rate on every dollar up to $1 million for the first 4 months after you open your account

• Interest calculated daily and paid monthly

Did you open your account between 1 October 2012 and 31 January 2013?
Great news! You'll still get a 1.00%p.a. fixed bonus on top of the standard variable rate, which will automatically be applied to each and every cent you put into your High Interest Savings Account (up to $1m) for four months from the date you opened your account.

Did you open your account on or before 30 September 2012?
You'll still get our market leading standard variable rate. It's worth mentioning that you will have rolled off any bonuses but that shouldn't stop you saving, whatever you're saving for – doing it regularly gets you there sooner, especially with our great rates.

Optimise your cash flow with an easy access High Interest Savings Account

Business banking is easy with RaboDirect. All you have to do is open a Business High Interest Savings Account, deposit your savings and watch the interest pile up. Easy peasy!

• Earn up to 3.15%p.a. on every dollar, every day

• New customers, earn a Special introductory variable rate of up to 1.00%p.a. on your savings for 4 months (total rate 4.45%p.a.*)

• No fees, no minimum balance and no minimum term

• Online access to market leading Term Deposits

• Interest calculated daily and paid monthly

• Easy set up and online banking facilities

Straight talking from RaboDirect

Because we're straight talking and want the very best for our customers we always aim to offer market leading rates. Check out how we stack up against our competitors.

Rate table compares variable rate accounts which do not require regular monthly deposits
Rates shown in table are based on a $10,000 account balance

*Our Special introductory variable rate is subject to change at any time and applies to all new customers for 4 months from account opening on balances up to $1 million, then reverting to the standard variable rates shown apply to balances up to $1 million. Different rates apply to the portion of balances over $1 million

Disclaimer:
Information accurate as at  and subject to change at any time.
Source: CANSTAR CANNEX

Note: Rates shown are as notified to CANSTAR CANNEX during the previous business day.
Financial data provided by Canstar Pty Ltd AFSL 312804. CANSTAR CANNEX's FSG and AFSL disclosure statement apply. RaboDirect has received permission from Canstar Pty Ltd to publish this information and does not endorse or accept responsibility for the accuracy or completeness of the information provided.

The special/promotional rates of other financial institutions may include introductory rates that apply for limited period of time and/or bonus rates (such as bonuses for regular deposits) that apply after satisfying certain conditions. The product information in this table is intended as a guide only and should not be relied upon. For the latest rates, and full terms and conditions of introductory and bonus rates, refer to respective product issuers' websites.

RaboDirect's Business High Interest Savings Account Special introductory variable rate is subject to change at any time and applies to all new customers for 4 months months from account opening on balances up to$$1 million then reverting to the standard variable rate.
Not applicable to  “On behalf of” accounts
Different rates apply to non business accounts.

Steal your dreams back in just 3 easy steps

Step 1

Complete the online application form in minutes.

Step 2

Link your everyday bank account with your High Interest Savings Account.

Step 3

Concenrate on your business and let your savings work for themselves

Want your claim of $4 billion in lost interest?

In our recently launched advertising campaign, we call the major banks out for using low interest accounts to “steal" people's dreams.

You might have a few questions about the $4 billion in lost interest, so we thought we would explain what we mean – but also what you can do to make sure you avoid missing out.

What do we mean by $4 billion in lost interest?

This number is the calculation of potential savings from interest Australians might have made had their surplus cash been invested in a high interest savings account, rather than leaving it in low interest account, such as a  transaction account.

$4 billion? That's a lot of money!

Actually, $4 billion is a conservative estimate. The upper end of the estimate is somewhere around $6-8 billion mark.

It translates to about $550 per person per year. We think you should know about that so you can be sure to review your cash holdings and move money into high interest accounts whenever possible.

What does this mean for me as a saver?

Apart from the obvious benefit of tapping into this pool of potential savings by switching to a high interest savings account, it also highlights the need for all of us to be more aware of the type of product we are using to house our money.

There is a clear difference between ‘savings' and ‘transaction' bank deposits but often there is confusion between
the two.

What can I do to avoid the “low interest account" trap?

People have a great opportunity to wake up their savings. We encourage Australians to have a closer look at how they are using their banking products, and to seek information about products and services to check that they deliver what they promise. If it says 'savings' it should deliver savings, not erode your money!