Help & Support
Absolutely, we offer introductory variable rates for new SMSF, Trust and Business customers. Different introductory variable rates apply.
Yes. The introductory variable rate will be offered for the duration of the first 4 months regardless of deposits and withdrawals on funds up to $250,000. Interest is calculated daily on the available account balance.
Intro rate - Do the funds earning the variable introductory rate count towards the first tier of the HISA?
Yes. Balances up to $250,000 will receive the introductory variable rate and will count towards the 1st tier balance of the HISA.
The portion of account balance greater than $250,000 earns the standard variable rate for that tier.
After the introductory 4 month period, all balances revert to the current standard variable rates on those tiers.
Please refer to the ‘My Rates’ page for details.
We’ll send you an email to let you know your account has been successfully opened. We’ll also send you a welcome pack a few days later which outlines the date your account was open. You can also find this when you log into online banking, it is located on the top left hand corner of the home page.
The Introductory variable rate will apply to both the HISA and the Purpose Saver up to a total amount of $250,000, any remaining funds will earn the relevant tiered rate, the balance of $250,000 will in the first instance come from the HISA account which ensures you earn the higher rate.
Intro rate - Can I close my existing account and apply for a new account to receive the variable bonus rate?
No. If you have previously held a RaboDirect HISA re-applying will result in the existing account being re-opened, as the account existed prior to 15th June 2015 it will not be eligible for the introductory variable rate.
The introductory variable rate is available to accounts that were opened after 15th June 2015. If you have missed out on this particular campaign we do offer different campaigns for our loyal existing customers, we will let you know if there are any campaigns coming up that you may be eligible for.
All you need to do is open a HISA account with RaboDirect and the introductory variable rate will be automatically applied for a period of 4 months from the time which the account was opened. This is for new customers only, and the introductory variable rate is subject to change.
We know that our customers appreciate a bank that offers competitive rates not just over the short term but over the long term too. As an online bank RaboDirect is able to offer accounts with competitive rates and also absolutely no account keeping fees, so your savings won't be eaten into by hidden fees or lower rates like at the major banks. We are also very transparent and honest with our customers - we email all customers about changes to our on call rates not just when they go up. Nothing is hidden in small print so no nasty surprises for our customers.
Intro rate - Will I be able to see the introductory variable rate on internet banking and statements?
Yes. You will be able to see the introductory variable rate, the standard variable rate and the variable bonus rate. Your accrued interest will also show the interest earned at the standard variable rate and interest earned at the variable bonus rate.