RaboPlus again lifts interest on online savings accounts to 7.25 per cent pa

Sydney: November 7, 2007

Effective 9 November 2007, RaboPlus - the online banking division of AAA rated Rabobank - will further lift its variable interest rate from 7.10 per cent to 7.25 per cent per annum on its online savings deposits up to $1 million. For remaining balances over $1 million, the current RaboPlus standard variable rate of 6.70 per cent per annum will apply, still one of the highest non-promotional standard variable rates in the market.

This offer will apply to both existing and new RaboPlus customers and is to be effective until January 2, 2008. The rate will then revert back to the standard on call variable rate, currently 6.70% per annum.

Head of financial services of RaboPlus Australia & New Zealand Bryan Inch said: "This is the second rise in 10 days as we aim to provide market leading interest rates to our customers and this rise is further proof of that intent.

The rate is also available to DIY super, trusts and business accounts, making it one of the best rates in the market for these types of customers.

It requires no minimum balance, no fees, interest is calculated daily and paid monthly, and accounts are accessible online 24/7.

RaboPlus high interest online savings is backed by Rabobank, the world's leading specialist in food and agribusiness banking. Rabobank has the highest possible credit ratings from both Standard & Poor's (AAA ) and Moody's Investor Service (Aaa), and has held these Triple A ratings for over 25 years.

Rabobank has also been voted the world's safest private bank by Global Finance Magazine for the third year in a row in 2007.
 

RaboPlus also offers a selection of terms and rates for Term Deposits, which are currently paying up to 7.30 per cent pa and has online low-cost access to a selection of wholesale and retail managed funds.