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Personal Savings

Why choose RaboDirect for your personal savings? Not only do we offer competitive interest rates, 100% of your savings go to support Australian agricultural businesses. So, why not use your savings to support our local farmers, all while earning great interest on your savings! Learn more.

What personal savings accounts are available?

We offer a range of savings accounts including the High Interest Savings Account, PremiumSaver and Notice Saver as well as Term Deposits ranging from 1 month to 5 years.

Compare savings accounts and interest rates

High Interest Savings Account

High Interest Savings AccountUp to
3.05% p.a.^

Get the most out of every dollar you save without changing your everyday bank, helping you save in the most flexible way.

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PremiumSaverUp to
2.45% p.a.*

Create a smart saving habit and get a higher rate of interest just for increasing your balance by at least $200 each month*.

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Notice Saver

Notice Saver90 Day Notice Saver up to
2.70% p.a.

Ideal when you don't need instant access to your savings and want to  stay focused on your goals.

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Term Deposits

Term Deposits5 year term up to
3.40% p.a.+

Lock in your savings and get a guaranteed return. You can start from as little as $1,000 with terms from 1 month to 5 years.

Learn more

^Current 4 month introductory variable rate for new personal customers on deposits up to $250,000. Rate subject to change.
*Maximum rates apply when your closing balance on the last day of the month is at least $200 higher than it was at the beginning of the first day of the month (excluding interest earned). +Early termination fees apply.
Kick start your savings plan with a 4 month introductory variable rate of 3.05% p.a.*
*4 month introductory variable rate for new personal customers on balances up to $250,000, reverting to the standard variable rate, currently 1.80% p.a.
Rates are subject to change.

How RaboDirect works

Get all your savings working together

With RaboDirect, our award winning savings products work together to give you flexibility and choice helping you achieve your savings goals. You may need some of your funds to be accessible straight away and keep some at arm’s reach to avoid impulse spending.

Once you start saving with us, you can access any of the accounts we offer, giving you the power to manage, earn and save.

Benefits of our savings accounts

  • No account fees for any savings or term deposit accounts
  • One place to access all your savings and term deposit accounts
  • Your savings go towards supporting Australian farmers, all while earning competitive interest rates
  • We’re here to help: speak with real people about your savings, not computers

How does RaboDirect support Australian farmers?

Saving with RaboDirect not only helps you achieve your savings goals,
you’re also helping Aussie farmers grow. That’s because 100% of your
deposits with RaboDirect are used to support local farmers to bring food
to our tables. 

Learn more here. 

RaboDirect Savings Calculator

See how your savings can grow

A great way to see how you can maximise your savings is to use our savings calculator. Select the features that you're after and see how our range of personal savings products work together to get your money working harder for you. You can see your savings over time and you can set a savings target.

The most commonly asked questions

Are there any account keeping fees?


No, RaboDirect does not charge any account fees on any savings accounts or Term Deposits. 

How do I transfer funds into my RaboDirect account?


You can transfer funds into your High Interest Savings Account (HISA) using the 'Transfer in' feature if you have allowed direct debit authority on your linked account. You can also transfer funds into any of your RaboDirect HISA or PremiumSaver accounts via electronic funds transfer (EFT) from most Australian accounts using your RaboDirect BSB and Account number.

Can the interest rate change?


Yes, interest rates offered on our High Interest Savings Account, Purpose Saver, Notice Saver and PremiumSaver are variable and may change. Our Term Deposits have fixed rates.

We'll always let you know when the interest rates change.

When is the interest rate calculated and paid into my account?


Interest is calculated daily throughout the month and is paid into your High Interest Savings Account at the end of each month. You can see the amount of interest you have earned for the previous month on the next months account statement or transaction history.

Intro rate - Can the introductory variable rate change or is it fixed?

The introductory variable rate is variable, which means it is subject to change. 

Intro rate - How does the introductory variable rate work?

The introductory variable rate is available for accounts opened on or after 15th June for a period of 4 months on balances up to $250,000. 

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. 

Can I install the app on more than one phone or tablet?


Yes, you can download and register the RaboDirect Mobile Banking App on up to six devices per account. 

RaboDirect Financial Health Barometer 2016 Report

2016 Food and Farming Report

What would you do with $1100? RaboDirect's 2016 Financial Health Barometer reveals on average, a staggering 14% of groceries are thrown away each week.

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RaboDirect Financial Health Barometer 2016 - Infographic header

Minimise waste and start growing your savings

Every year, Australians scrape $10 billion off their plates into the garbage. We’re not only wasting food but the resources that went into producing that food and the hard earned dollars used to pay for the goods. That’s the bad news. The good news?

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How to start a savings plan

How to start a savings plan

If you're looking to fast track your savings this year then it pays to start with the basics. Stick to this guide on how to start a savings plan and you'll end up healthier, wealthier and happier. 

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