PS PremiumSaver
Up to 5.30 % p.a.*
variable up
to $1mil

PremiumSaver

  • Interest calculated daily, paid monthly

  • Absolutely no fees

  • No need to switch banks for your everyday banking

  • 24/7 access to your savings, withdraw your money anytime

Giving it to you straight

Features and Benefits

Stealing your dreams back is easy with RaboDirect’s PremiumSaver Account

Do you wish you could bank on your savings? With our PremiumSaver account you can.
Become a creature of habit:

  • Increase your balance by $200 per month*

  • Earn 5.30%p.a. on balances up to $1m

  • Miss it for a month, and still get 3.50%p.a.

More features...

  • 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

See how our 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 require regular deposits.

CompanyProductMax rate (% p.a.)Min rate (% p.a.)Max balance^Max opening balanceMonthly balance growth~Withdrawals
allowed~
RaboDirectPremiumSaver5.30~3.50n/an/aMin $200 (excludes interest)Yes - unlimited
BankwestSmart eSaver5.00%3.50%$5mn/an/aNo
BankwestRegular Saver6.00%0.00%n/a$500Min $50 Max $500No
CBAGoal Saver5.25%1.75%$100kn/aMin $2001
NABSmart Reward Saver3.95%0.01%n/an/a> $0No
St GeorgeIncentive Saver4.95%0.50%n/an/a> $0No
WestpacReward Saver5.65%1.00%n/an/aMin $50No
UbankUsaver (with saving bonus)5.51%4.91%$200kn/aMin $200Yes
ANZProgress Saver5.26%0.01%n/an/aMin $10No

Information last updated on 16/05/2012. Source Infochoice
Conditions may apply. Please check appropriate Financial institution for full Terms and Conditions

RaboDirect:
~To earn the maximum rate your monthly closing balance must increase by $200
 (in addition to the interest paid to your account) compared to the monthly opening balance.
 Unlimited withdrawals are allowed although to receive the higher rate your monthly balance must still increase by a minimum of $200
^Different rates apply for balances over $1 million.

How it works

Getting a great interest rate is as easy as one, two, three.

Step 1

Open a PremiumSaver account

Step 2

Increase your net balance by $200* before the end of each month

Step 3

Watch your money grow

The best part is you can make as many fee-free withdrawals or transfers into your linked account as you like and you won’t lose any interest, as long as you:

  • Be sure, on the last business day of the month, your end of month account balance is a minimum of $200* higher than it was at the beginning of the month.

  • Don’t include your Interest earned in your minimum balance increase.

  • Make sure the minimum $200* additional balance is in your account as cleared funds by 5.30pm (EST or eastern daylight savings time) on the last business day of the month.

*The minimum balance increase for Business account is $2,000

Meet Joe

Joe has $900 in his PremiumSaver account at the start of the month.
He deposits $1000 on 15 January; withdraws $1200 on the 22 January, leaving him with $700; then deposits $400.
So by the last business day of the month his balance is $1100.
This is $200 over his balance at the start of the month, so Joe receives the 5.30p.a. higher interest rate with no penalties for the mid month withdrawals.

PremiumSaver In Detail explanation graph

Earning with PremiumSaver

This table explains all our PremiumSaver interest rates.

Max rate
(% p.a.)

Min rate
(% p.a.)

Net monthly
balance increase
(on top of interest earned)

Personal accounts

5.30

3.50

$200

Business accounts

4.85

3.75

$2000

DIY super and
Trust accounts

5.30

3.50

$200

These rates are correct as at 16/05/2012
Different rates apply for balances over $1 million.

How to open an account

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 new RaboDirect account

Step 3

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

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.

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 HISA page

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

Simply log into your RaboDirect account and open a PremiumSaver by clicking the link under ‘PremiumSaver’ on your home page.

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

At RaboDirect your deposits are guaranteed by our ultimate parent Rabobank

From 1 February 2012, Deposits with RaboDirect are guaranteed by the Australian Government up to a combined total of $250,000.

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

Learn more

Top FAQ's

Is there a minimum or maximum balance?

There is no minimum balance for your account, however you need to meet the required monthly balance increase in order to earn the higher (Max.) rate.
The higher (Max.) rate only applies to the portion of your balance under $1million.
For information on Business accounts, Click here

What if I don’t contribute to my account?

If you make no contributions to your account during the month, you will still receive the lower (Min.) rate instead of the higher (Max.) rate.

Will I receive the higher (Max) rate if I make a withdrawal?

Yes, you can make unlimited transactions during the month, as long as you increase your balance by the required amount before the end of the month you will receive the higher rate.

How many PremiumSaver accounts can I have?

You can have one
PremiumSaver account.

I still can’t find what
I’m looking for?

Still have a question?
Click here to view all our FAQ's or to speak to one of our Sydney based Customer experience agents call 1800 445 445