RaboDirect Notice Saver

0% p.a.(for $0 and over)

2.50% p.a. (for $0 to $250,000)

 

0% p.a.(for $0 and over)

2.55% p.a. (for $0 to $250,000)

 

0% p.a.(for $0 and over)

2.70% p.a. (for $0 to $250,000)

 

RaboDirect Notice Saver Review

Rates and fees information correct as at 19 September 2018.

Review published: 18 March 2013

What's hot:

  • Australia's only hybrid savings term account

  • 2.7% variable interest rate (90 day notice period)

  • Totally fee-free

What's not:

  • Rates drop for deposits of $250,000 or more

  • can't withdraw funds without giving notice (this could also be a plus!)

Mozo snapshot:

Want to put your savings at arms length but don't like the commitment of locking your money away in a fixed term deposit? We have some good news for you. Savings specialist RaboDirect's notice savings account is part savings account, part term deposit. The Notice Saver has a high variable interest rate of 2.70% for 90 days, no fees, and you can add funds at any time and withdraw them, but you'll need to give notice.

Key features:

Like most online savings accounts, the Notice Saver has a variable interest rate and no fees. The rate is tiered depending on the notice period and the account balance. There are three notice period options: 31, 60 and 90 day but the best rates are for the 90 day notice at 2.70% for balances up to $250,000.

The 31 day notice account has a rate of 2.50%, and the 60 day is 2.55% for balances up to $250,000 which fall under the Government guarantee on deposits. For balances between $250,000 and $2 million the interest rate is 2.40% for 31 day notice, 2.50% for 60 days notice and 2.65% for 90 days notice. For balances over $2M, the 31 and 60 day Notice Saver accounts have a 1.90% variable interest rate, or 2.10% for the 90 day Notice Saver.

The beauty of the Notice Saver is that, unlike a term deposit you can keep adding money to the account whenever you like. And unlike a savings account, you can't access your money at a whim. You can withdraw funds at anytime but you need to give notice. Your notice period will depend on what notice period you select when you open the account (31, 60, 90 days).


Who it's good for:

There is no minimum balance requirements so the Notice Saver is a great account if you are trying to build up your savings over a period of time and want to avoid the temptation of mid-year sales and other impulse buys.

It is also a good savings account for people with self-managed super funds (SMSF) or sole traders who need to put away cash for GST instalments but don't want a fixed term investment for their money (Different rates apply).    

You must also be an Australian resident over the age of 18 to open a Notice Saver account.

Any catches?

Impulse buyers beware. If you don't provide RaboDirect with the minimum notice period you won't be able to get your money. This could be seen as a plus if you're trying to kick the spending habit, but it is recommended that you keep a small stash in an at-call high interest savings account just in case you need some money in a hurry.

How are RaboDirect savings accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
8.0

Based on 24
RaboDirect savings accounts reviews

8.3 7.1 7.5 7.4 8.1

Read RaboDirect savings account reviews by the Mozo community

Latest reviews of RaboDirect Notice Saver

RaboDirect

RaboDirect 31 Day Notice Saver savings account review

Overall rating   9 / 10

Excellent interest rates

Rabo direct is amazing as it gives us the best interest rates which helps us reach our family goals quicker! They also have excellent and easy customer service.

Full review

Rabo direct is amazing as it gives us the best interest rates which helps us reach our family goals quicker! They also have excellent and easy customer service.

    Price   8 / 10

    Features   8 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Lauren (QLD), reviewed almost 4 years ago

RaboDirect

RaboDirect 31 Day Notice Saver savings account review

Overall rating   10 / 10

Safe and a great way to save

I really like Rabo Bank. I feel safe with the security, as you are given a little device that is coded to your password and you get other codes through it. The notice saver is a great way to save as you have to give 31 days notice to get your money.

Full review

I really like Rabo Bank. I feel safe with the security, as you are given a little device that is coded to your password and you get other codes through it. The notice saver is a great way to save as you have to give 31 days notice to get your money.

    Price   10 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Ebonee (VIC), reviewed about 4 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Currently showing

Rates

  • Balances from $0: 0.00% p.a.

  • Balances from $0: 2.50% p.a.
    Balances from $250,000: 2.40% p.a.
    Balances from $2,000,000: 1.90% p.a.

  • The notice period is the amount of time you have to wait before you can withdraw your planned transfers from your Notice Saver account.

Fees

  • $0.00

  • none

  • Unlimited free transactions from internet.

  • none

  • none

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • none

Other financial bits

  • $1.00

  • $0.00

  • Monthly

Features

  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • no

  • yes

  • no

  • no

  • Funds cannot be withdrawn without serving the minimum notice period.

  • none

  • none

Rates

  • Balances from $0: 0.00% p.a.

  • Balances from $0: 2.55% p.a.
    Balances from $250,000: 2.50% p.a.
    Balances from $2,000,000: 1.90% p.a.

  • The notice period is the amount of time you have to wait before you can withdraw your planned transfers from your Notice Saver account.

Fees

  • $0.00

  • none

  • Unlimited free transactions from internet.

  • none

  • none

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • none

Other financial bits

  • $1.00

  • $0.00

  • Monthly

Features

  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • no

  • yes

  • no

  • no

  • Funds cannot be withdrawn without serving the minimum notice period.

  • none

  • none

Rates

  • Balances from $0: 0.00% p.a.

  • Balances from $0: 2.70% p.a.
    Balances from $250,000: 2.65% p.a.
    Balances from $2,000,000: 2.10% p.a.

  • The notice period is the amount of time you have to wait before you can withdraw your planned transfers from your Notice Saver account.

Fees

  • $0.00

  • none

  • Unlimited free transactions from internet.

  • none

  • none

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • none

Other financial bits

  • $1.00

  • $0.00

  • Monthly

Features

  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • no

  • yes

  • no

  • no

  • Funds cannot be withdrawn without serving the minimum notice period.

  • none

  • none

About RaboDirect

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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