HISA HISA
Up to 6.01 % p.a.*
variable up
to $200,000

High Interest Savings Account

  • Interest calculated daily, paid monthly

  • Absolutely no fees, no minimum balance

  • No need to switch banks for your everyday banking

  • Access to your savings 24/7

Giving it to you straight

What is the new Bonus rate and how do I get it?

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

Steal them back with RaboDirect
We are currently offering a bonus interest rate to all new customers of 0.61%p.a* on top of our standard variable rate for balances under $1 million.
All you need to do is open a High Interest Savings Account and you will be eligible for the bonus rate.
It is available to all new customers for 4 months from account opening
For balances up to $200k you will automatically earn 6.01%p.a. variable special rate on every dollar for the first 4 months.
For balances between $200k and $1 million you will automatically earn 5.61%p.a. variable special rate on every dollar for the first 4 months.

After the initial 4 months, your rate will revert to the standard variable rate that applies to your account balance.

  • Earn an extra 0.61%p.a. above the standard variable rate

  • Bonus rate for every dollar for the first 4 months after you open your account

  • The Bonus rate is applicable for balances up to $1million

  • For new customers only (Stay tuned existing customers for great deals coming your way)

  • Interest calculated daily and paid monthly

  • Available for DIY Super

And here’s how our bonus rate works with our tiers:

These rates apply to all personal, joint, DIY Super, Trust and new SMSF Online accounts.

Balance*

Rate % p.a.

$0 - $200k

6.01

$200k -$1M

5.61

$1M+

4.75

* Tiered rates do not apply to Purpose Saver accounts.
Different rates apply to businesses

Information last updated on 25/01/2012

Features and Benefits

Stealing your dreams back is easy with RaboDirect’s High Interest Savings Account

At RaboDirect we want to make your dreams come true, be it a holiday, a house or that sports car
you've always wanted. 
Whatever your dreams:

  • Open a RaboDirect High interest savings account

  • Earn a standard rate of 5.40%p.a.* on every dollar, every day (on balances up to $200k)

  • Earn a bonus rate of 0.61%p.a.* on your savings for 4 months (total rate 6.01%p.a.*) for new customers

  • Get online access to other great savings products, like Term Deposits

  • No fees, no minimum balance and no minimum term

  • Interest calculated daily and paid monthly

  • Easy set up and online banking facilities

  • Available for DIY Super

  • Different account options including - Joint, Business, Diy Super and more

And here’s how our standard variable tiered rates work:

These rates apply to all personal, joint, DIY Super, Trust, and new SMSF Online accounts.

Balance*

Standard Rate % p.a.

Bonus Rate % p.a.

$0 - $200k

5.40

6.01

$200k -$1M

5.00

5.61

$1M+

4.75

4.75

* Tiered rates do not apply to Purpose Saver accounts.
Different rates apply to businesses

Information last updated on 25/01/2012

See how our great rates compare to other banks

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.

This table compares online savings accounts that do not require regular deposits.

ProductSpecial rate
(% p.a.)		Standard rate
(% p.a.)		FeesMin depositMax deposit
High Interest Savings Account6.01*5.40~NilNiln/a
AMP
eASYSAVER		5.20~4.95Nil$0

n/a

Bank of Queensland
Web Savings Account		5.65~4.00Nil$2,000n/a
BankWest
Telenet Saver		5.80~4.75Nil$0n/a
Citibank
Online Saver Account		5.80~4.75Nil$0Special rate
not applicable over $2M
Commonwealth Bank
NetBank Saver		5.25~4.25Nil$1Special rate
not applicable over $5M
ING Direct
Savings Maximiser		5.85~4.50Nil$0Special rate
not applicable over $250K
NAB iSaver5.50~4.15Nil$1n/a
Suncorp eOptionsNil4.50Yes~$0n/a
Ubank USaver6.01~5.41Nil~$200

n/a

Westpac eSaver5.50~4.25Nil~$0n/a
Virgin Saver5.85~4.65Nil~$0n/a

*Variable bonus rate is on every dollar for balances up to $200000.00 for the first 4 months after you open your account.

~Conditions apply to bonus rates. Please check the appropriate Financial Institutions terms and conditions for details .

Information last updated on 25/01/2012. Source: Infochoice

How to open an account

Steal your dreams back in just 3 easy steps

Step 1

Complete the quick and easy online application form in minutes

Step 2

Link your everyday bank account with your High Interest Savings Account by making an online
transfer of $1

Step 3

Throw on your togs and get down to the beach while your savings work harder than you’ll ever have to

$4 Billion in lost interest

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 a 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 accounts but often there is confusion between
the two because of the names they are given.

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!

One sign up, all our products, anytime

As a RaboDirect customer, when you sign up to one of our products
you have access to them all. Now that’s convenience.

At RaboDirect your deposits are guaranteed by our ultimate parent Rabobank

Deposits with RaboDirect are guaranteed by the Australian Government up to a combined total of $1m until 1 February 2012, and up to $250,000 after this date.

Rabobank has been ranked one of the top 10 safest banks in the world by Global Finance magazine each year since 1999; it is also bigger than any Australian bank. So you know your money is in safe hands with us.

Learn more

Already a RaboDirect customer and want to add some strings to your bow?

We’ve got a raft of products you can use to put your savings into overdrive:

If you’d like a higher rate of interest have a look at our PremiumSaver page

Or if you want a guaranteed rate over a longer period of time, check out our marketing leading Term Deposits page

Simply login to your RaboDirect account and on the left hand side menu select your product of choice.

No need to fill in any more forms. Now that's easy

Top FAQ's

What are your tiered rates
and how do they work?

The interest rate offered depends on your account balance.
These tiers are standard variable rates and do not include the bonus rates.
Tier 1: 5.40%p.a. for the portion of your account balance up to $200k.
Tier 2:  5.00%p.a. for the portion of your account balance between $200k and $1million.
Tier 3: 4.75%p.a. for the portion of your account balance above $1million.

Why don't existing customers
get the bonus interest rate?

We always want to take care of our existing customers, so stay tuned for great deals coming
your way soon.
Our existing customers are still receiving a market leading rate of 5.40%p.a. on their High Interest Savings Acccount on balances up to $200k.

Is my Master Account my
High Interest Savings Account?

Yes, they are the same thing, we just name it that way to indicate that it is your primary account.

Can the interest rate
change at any time?

Yes the interest rate offered on High Interest Savings accounts is a variable interest rate and can change at any time.

When is the interest paid into my account?

Interest is calculated throughout the month and is paid into your Master Account (High Interest Savings Account) at the end of each month.

How do I verify my
linked account?

To verify your linked account, you need to transfer exactly $1.00 into your RaboDirect account from your other nominated financial institution with the reference ‘Verify account’.