In the Spotlight... Andrew Fartek from RaboDirect

Want to add an award winning savings account to your self managed super fund (SMSF) portfolio? Read on, as we speak to this year’s SMSF Savings Bank of the Year - none other than RaboDirect about what makes its accounts great value.

Here’s what Andrew Fartek, Head of Customer Management at RaboDirect had to say:

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By Rebeccah Elley· Friday 31 March 2017

SMSF Savings Bank of the Year 2017

Here at RaboDirect we’re delighted to have received the SMSF Savings Bank of the Year award. We really pride ourselves on being a savings specialist and are dedicated to helping Australians make the most out of their money.

One of the things we do is ask our customers directly what they are looking for in a savings account or term deposit. We are always surveying our customers and researching the market to ensure we deliver great value products and features that meet our customers’ needs.

Our savings accounts come with the features customers are after. From our research, we know that high interest rates is definitely at the top of the list, followed closely by security and ease of use of the account.

Our accounts for self-managed super funds can be used for all phases of superannuation from accumulation to retirement and all pay competitive interest rates. For instance our High Interest Savings Account is ideal for those who need instant access to their cash, with a competitive ongoing rate and at-call access. Whereas, our Notice Saver will reward you with an even higher ongoing rate but you’ll have restrictions around when you can make a withdrawal.

For those who want to lock their rate in and be protected from rate fluctuations in the market, we also offer a SMSF term deposit account. Terms are available for up to 5 years and we also offer a 0.10% bonus rate if you reinvest your term deposit with us after the term comes to an end.

The SMSF industry is the fastest growing sector of the superannuation market. Despite recently announced changes by the government, superannuation continues to be one of the most effective ways to save for retirement and the sector including SMSFs will continue to display strong growth.

Where interest rates will go in 2017 and beyond. There’s a lot of market commentary at the moment about the possibility that interest rates will start to increase in the United States which will have an impact on global markets including Australia. Assuming that rates do increase in the US and there are no global hiccups, then there’s a chance that our rates will move in the same direction.

Andrew Fartek has worked for RaboDirect for over 4 years. In the last 10 months he's headed up the RaboDirect Marketing Team, responsible for the development and execution of the Marketing Strategy.