How does Rabobank’s High Interest Savings account at 5.75% p.a. compare to Police Bank’s U30 SUPER CHARGE saver?
![Money and cash falling into a piggy bank for savings](https://cdn.mozo.com.au/images/atwood/16012/Joint%20savings%20account%20thumbnail%20(3).png)
Rabobank's High Interest Saver currently offers a bonus rate of 5.75% p.a. for the first 4 months, making it the highest savings interest rate in the Mozo database as of June.
Meanwhile, Police Bank's Base Rate Saver offers a high base interest rate of 5.25% p.a., the highest of the base rate savers in the Mozo database right now (but is only available for 18-29 year olds).
Each of these savings accounts comes with benefits but the choice for young adults can be difficult between these types of high interest savers and other leading savings accounts.
The interest rate is probably the first thing you'll look at, but there are other important things to consider such as balance limits, your time frame, and more.
So let’s compare the two accounts: Rabobank High Interest Savings account vs Police Bank U30 super charge account.
Rabobank High Interest Savings Account
Rabobank's High Interest Saver currently offers a bonus rate of 5.75% p.a., which means it’s an intro rate that reverts to a lower rate of 4.40% p.a.
Pros:
- High promotional interest rate of 5.75% p.a. for 4 months
- No minimum balance requirement
- Unlimited free transactions
Cons:
- After 4 months, rate drops to 4.40%p.a.
- Interest is applicable on balances up to $250,000
Police Bank U30 SUPER CHARGE account
Police Bank's Base Rate Saver has a high interest base rate of 5.25% p.a which means you don’t have to meet bonus rate conditions, though there are some restrictions to be aware of that we’ve highlighted below:
Pros:
- Consistently high base rate of 5.25% p.a.
- 3 accounts (One transaction and 2 savings accounts)
- No ongoing fees
Cons:
- Exclusively available to members aged 18-29
- Highest rate is applicable on a combined account balance of up to $30,000 ($10,000 per account)
- Balance limit of $30,000
- Interest earned up to $10,000
How to compare savings accounts
When comparing these two high-interest savings accounts, consider some of the following:
- Interest rate: If you prefer a consistently high rate without any promotional periods, Police Bank's U30 Super Charge account may be the better choice. Just keep in mind that savings accounts have variable rates and can move up or down at the provider's discretion.
- Balance cap for maximum interest rate: The highest rate on Rabobank's High Interest Saver is for balances up to $250,000 while the highest rate applicable to Police Bank’s U30 Super Charge account is up to $10,000 per account for a combined total of $30,000.
- Short-term returns: If you're looking to maximise how much your cash earns in the short term, Rabobank's High Interest Savings Account with its 5.75% p.a. promotional rate for 4 months could be the better option.
- Long-term returns: Consider the standard variable rate of Rabobank's High Interest Saver after the promotional period ends to determine which account will provide better long-term returns.
If you’re interested in exploring more savings account options, then you can check out some more providers in the list below or compare high interest savings accounts on our hub page.
Savings account comparisons on Mozo - last updated 26 June 2024
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Featured Product
Mozo experts choice awards won:
- Kick Start Savings - 2024
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Bonus rate for the first 4 months from account opening
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account. No Account keeping fees. No minimum balance. Support Aussie farmers with every dollar you save.
CompareCompareHigh Interest Savings Account
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account. No Account keeping fees. No minimum balance. Support Aussie farmers with every dollar you save.
- Maximum rate
- 5.75% p.a. (for $0 to $250,001)
- standard interest rate
- 4.40% p.a.(for $0 to $250,001)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus rate for the first 4 months from account opening, reverting to standard variable rate. Rate shown is for Personal customers and is subject to change. Different rates apply to Business/SMSF customers.
- Access
- Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account
Read our Mozo Review to learn more about the Rabobank High Interest Savings Account
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Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Bonus variable rate is available for the first four months.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2024 Mozo Experts Choice Award winner.
CompareCompareSavings Account
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2024 Mozo Experts Choice Award winner.
- Maximum rate
- 5.35% p.a. (for $0 to $250,000)
- standard interest rate
- 4.75% p.a.(for $0 to $1,000,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus variable rate is available for the first four months.
- Access
- BPay, Branch access, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must have a Macquarie Transaction Account to link with.
Read our Mozo Review to learn more about the Macquarie Savings Account
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Mozo experts choice awards won:
- High Interest Savings - 2024
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
0.55% p.a.(for $0 and over)
Yes up to $250,000
For customers who have an Orange Everyday account, deposit $1000 into a personal ING account, make 5 eligible transactions and grow their nominated Savings Maximiser account each month.
Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
CompareCompareSavings Maximiser
Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
- Maximum rate
- 5.50% p.a. (for $0 to $100,000)
- standard interest rate
- 0.55% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- For customers who deposit $1000 from an external source into a personal ING account (excluding Orange One and Living Super), make 5 eligible transactions and grow their nominated Savings Maximiser account each month so there is more in the account at the end of the month than there was at the start of each month (excluding interest). The total bonus interest rate is available on balances up to $100,000 on one Savings Maximiser the next month after meeting eligibility.
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must be linked to an Orange Everyday transaction account to receive the bonus rate. Where multiple Savings Maximiser Accounts are held, the bonus rate is only applied to one nominated account.
Read our Mozo Review to learn more about the ING Savings Maximiser
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Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
CompareCompareReward Saver Account
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
- Maximum rate
- 5.25% p.a. (for $0 to $1,000,000)
- standard interest rate
- 0% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
- Access
- ATM, EFTPOS, Visa Debit, Cheque book, BPay, Branch access, Phone banking, Internet banking, Bank@Post
- Minimum balance
- $0.00
- Other restrictions
- -
Read our Mozo Review to learn more about the IMB Bank Reward Saver Account
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PremiumSaver
5.45% p.a. (for $0 to $250,001)
1.50% p.a.(for $0 and over)
Yes up to $250,000
Increase balance by $200 by the end of each month
Reward yourself with a higher rate for your good savings habits. Rabobanks’s PremiumSaver is simple - receive the maximum rate when you grow your balance by at least $200 each month (T&Cs apply). Plus, your savings help our Aussie farmers produce the food we love to enjoy.
CompareComparePremiumSaver
Reward yourself with a higher rate for your good savings habits. Rabobanks’s PremiumSaver is simple - receive the maximum rate when you grow your balance by at least $200 each month (T&Cs apply). Plus, your savings help our Aussie farmers produce the food we love to enjoy.
- Maximum rate
- 5.45% p.a. (for $0 to $250,001)
- standard interest rate
- 1.50% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Maximum rates apply when your closing balance on the last day of the month is at least $200 more than it was at the beginning of the first day of the month (excluding interest earned).
- Access
- Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account. Must hold and maintain a HISA.
Read our Mozo Review to learn more about the Rabobank PremiumSaver
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