Rabobank PremiumSaver
0.35% p.a.(for $0 and over)
1.70% p.a. (for $0 to $250,001)
Rabobank PremiumSaver
0.35% p.a.(for $0 and over)
1.70% p.a. (for $0 to $250,001)
Rabobank PremiumSaver
0.35% p.a.(for $0 and over)
1.70% p.a. (for $0 to $250,001)
Mozo Review Rabobank PremiumSaver Review
Last updated: 8 October 2019.
What's hot:
No account fees
Unlimited free transactions from internet banking
100% online
What's not:
Interest rate drops for balances over $250,000
Mozo snapshot:
If you want motivation to save, how about the ability to earn higher interest every month you deposit at least $200 into your account? The PremiumSaver account from Rabobank offers you just that. It has a 1.70% p.a. interest rate when your balance is at least $200 more than it was at the beginning of the month. If you don't make a deposit, you'll still get a rate of 0.35% p.a.
Key features:
The Premium Saver account is designed to help you stay on track to reach your savings goals. It has no account keeping fees or minimum terms like a term deposit so you can save money, knowing that your money isn't being eaten up by fees or locked in should you need to access it.
There are three rate tiers depending on how much you've got in the account. The good news for most of us is that the best rate is available to balances under $250,000, at 1.70% p.a. For balances up to $1 million the rate is 1.55% p.a. and for over $1 million the rate is 1.35% p.a. No matter what tier you fall into, all balances up to $250,000 will be covered by the government guarantee.
Rabobank is 100% online so you'll be able to set up and manage the account through the online or mobile banking app. You'll need to have a linked everyday account (but this can be with any financial institution). It's a good idea to set up automatic monthly deposits of $200 into the account so that you'll always get the bonus interest.
Who it's good for:
Anyone that has a savings goal and can deposit at least $200 a month so that they meet the bonus interest rate requirements.
Any catches?
If you find that you can't keep up the deposit conditions in order to get the bonus rate, think about switching to Rabobank's High Interest Saver. You'll get a higher base rate of 1.05% p.a. rather than 0.35% p.a and you won't have to make a regular monthly deposit.
Details
Rates and fees information correct as at 27 January 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
Balances from $0: 0.35% p.a.
-
Balances from $0: 1.70% p.a.
Balances from $250,001: 1.55% p.a.
Balances from $1,000,000: 1.35% p.a. -
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).
Fees
-
$0.00
-
n/a
-
Unlimited free transactions from internet.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
$0.00
-
n/a
Other financial bits
-
$1.00
-
$0.00
-
Monthly
Features
-
no
-
none
-
no
-
no
-
no
-
no
-
no
-
no
-
yes
-
no
-
no
-
Must link to a transaction account
-
none
-
none
Customer Reviews
How are Rabobank savings accounts rated by the Mozo community?
Latest reviews of Rabobank PremiumSaver
-
Great intro rate!
Their introductory rate of 2.5% for 4 months is the best deal I could find.
Read full reviewTheir introductory rate of 2.5% for 4 months is the best deal I could find.
Price8/10Features-1/10Customer service8/10Convenience-1/10LessTrust8/10 -
Great rural bank, great customer service
Great service, all from your home. Nothing is too much trouble. Excellent customer service, great products.
Read full reviewGreat service, all from your home. Nothing is too much trouble. Excellent customer service, great products.
Price10/10Features10/10Customer service10/10Convenience10/10LessTrust10/10 -
Competive interest rate and great customer service
Excellent interest rate compared to others. Easy to use mobile app with quick sign in. Logging on to the internet banking through the website is a bit of a hassle with the digipass but it does have a secure feature I guess.
Read full reviewExcellent interest rate compared to others. Easy to use mobile app with quick sign in. Logging on to the internet banking through the website is a bit of a hassle with the digipass but it does have a secure feature I guess.
Price10/10Features10/10Customer service10/10Convenience8/10LessTrust9/10 -
Consistently offers the best interest rates.
RaboDirect have consistently had the best interest rates. Customer service is excellent.
Read full reviewRaboDirect have consistently had the best interest rates. Customer service is excellent.
Price10/10Features5/10Customer service10/10Convenience8/10LessTrust10/10 -
Ok at the moment
Rabo is ok at the moment, not terrible. I think the new notice saver takes priority right now. Hope they think about their existing customers.
Read full reviewRabo is ok at the moment, not terrible. I think the new notice saver takes priority right now. Hope they think about their existing customers.
Price4/10Features4/10Customer service7/10Convenience5/10LessTrust7/10
About Rabobank
RaboDirect has created a suite of savings accounts that work together to give you flexibility and choice. Open one account and you automatically get access to the whole set, with no fees and without the hassle of multiple applications. As an 100% online savings account provider RaboDirect takes security seriously, protecting customers with its Digipass security device, plus balances up to $250,000 are guaranteed by the Australian Government.
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2.35% p.a. (for $0 to $1,000,000)
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Reward Saver Account
2.00% p.a. (for $5,000 and over)
0% p.a.(for $0 and over)
$0.00
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USaver with Ultra Transaction Account
2.10% p.a. (for $0 to $200,000)
1.04% p.a.(for $0 to $5,000,000)
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Bankwest
Hero Saver
1.85% p.a. (for $0 to $250,000)
0.01% p.a.(for $0 to $5,000,000)
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Suncorp
Growth Saver Account
1.95% p.a. (for $0 and over)
0.20% p.a.(for $0 and over)
$0.00
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Citi
Online Saver
2.30% p.a. (for $0 to $500,000)
0.85% p.a.(for $0 and over)
$0.00
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IMB Bank
Reward Saver Account
2.00% p.a. (for $5,000 and over)
0% p.a.(for $0 and over)
$0.00
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HSBC
Serious Saver
2.35% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
$0.00
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CUA
eSaver Reward
2.00% p.a. (for $0 to $100,000)
0.05% p.a.(for $0 and over)
$0.00
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Rabobank
High Interest Savings Account
2.50% p.a. (for $0 to $250,001)
1.05% p.a.(for $0 to $250,001)
$0.00
Promoted
Suncorp
Growth Saver Account
0.20% p.a.(for $0 and over)
1.95% p.a. (for $0 and over)
Promoted
CUA
eSaver Reward
0.05% p.a.(for $0 and over)
2.00% p.a. (for $0 to $100,000)
Promoted
Bankwest
Hero Saver
0.01% p.a.(for $0 to $5,000,000)
1.85% p.a. (for $0 to $250,000)
Promoted
HSBC
Serious Saver
0% p.a.(for $0 and over)
2.35% p.a. (for $0 to $1,000,000)
Promoted
IMB Bank
Reward Saver Account
0% p.a.(for $0 and over)
2.00% p.a. (for $5,000 and over)
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Newcastle Permanent
Smart Saver
0% p.a.(for $0 and over)
2.30% p.a. (for $0 and over)
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ANZ
Progress Saver
0.01% p.a.(for $0 and over)
1.60% p.a. (for $0 and over)
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UniBank
Mighty Saver Account
0.30% p.a.(for $0 and over)
1.95% p.a. (for $0 and over)
