If you’re looking into securing your cash away in a term deposit, you’ll be after an account with competitive interest rates, and the Rabobank Term Deposit does just that. The maximum rate is 4.90% p.a. paid at maturity on a 6 month term.
Searching for an account that gives you a secure return on your savings? The Rabobank Term Deposit offers competitive interest rates on a range of terms from one month to five years on investments between $1,000 and $2,000,000.
For a 9 month term on balances between $1,000 and $2,000,000 you’ll be able to earn a 4.70% p.a. interest rate. For a one year, you’ll earn an interest rate of 4.55% p.a. paid annually. And if you automatically reinvest your term deposit into a new one when it reaches the maturity stage, an extra 0.10% interest is added for your loyalty.
When it comes to interest Rabobank provides flexibility, giving their users the choice to have their interest payments paid monthly, quarterly, bi-annually, and annually. Just keep in mind that there is a 31 day notice requirement for the withdrawal of any funds from the term deposit before maturity (early withdrawal fees apply), otherwise the earliest you may be able to obtain the funds is at the maturity stage. Also, money will be automatically rolled into a new account for the same terms if you fail to give Rabobank one business day notice before reinvesting your deposit into new terms.
The Rabobank Term Deposit is a great choice for savers with a minimum balance of $1,000 ready to store away and who won’t be tempted to withdraw it early.
Just keep in mind that there is a 31 day notice requirement for the withdrawal of any funds from the term deposit and you'll need to pay an early withdrawal fee, unless RaboBank agrees that you're suffering
financial hardship.
|
2.00% p.a. ($1,000 to $2,000,000) |
|
|
4.85% p.a. ($1,000 to $2,000,000) |
|
|
4.90% p.a. ($1,000 to $2,000,000) |
|
|
4.70% p.a. ($1,000 to $2,000,000) |
|
|
4.55% p.a. ($1,000 to $2,000,000) |
|
|
4.16% p.a. ($1,000 to $2,000,000) |
|
|
4.00% p.a. ($1,000 to $2,000,000) |
|
|
4.00% p.a. ($1,000 to $2,000,000) |
|
|
4.30% p.a. ($1,000 to $2,000,000) |
|
|
4.40% p.a. ($1,000 to $2,000,000) |
|
$1,000.00 |
|
|
$2,000,000.00 |
|
no |
|
|
yes |
|
|
Must also open and maintain a High Interest Savings Account. |
|
|
0.10% loyalty bonus applies when a term deposit is automatically reinvested. |
Different interest rates apply to different amounts or different interest payment frequencies.
You have to be computer literate.
Read full reviewYou have to be computer literate.
I did my research into banks, with my criteria being a competitive interest, easy access to my money and most of all a bank that was safe and reliable in times of economic uncertainty. As Rabobank mainly deals with agricultural business loans, it seems a very safe, secure option for term deposits. I found Rabobank met my criteria. Although the only con was that their interest rate on offer at the time wasn't the highest around, but was still fairly competitive, however I overlooked that for the banks security. Also I didn't want to tie up my investment for any length on time, and wanted it available at short notice. Rabobank offers this option too, and make it very simple. I was also impressed by the banks security consciousness, giving a free token code for added online security for accounts, as I have had to pay extra for these from other banks. I was impressed with the friendliness and level of personal service given and the bonus of very minimal waiting time, not surprising as it's not one of the major mainstream banks. Would definitely recommend it as one of the best banks around for anyone looking at Term Deposit options.
Read full reviewI did my research into banks, with my criteria being a competitive interest, easy access to my money and most of all a bank that was safe and reliable in times of economic uncertainty. As Rabobank mainly deals with agricultural business loans, it seems a very safe, secure option for term deposits. I found Rabobank met my criteria. Although the only con was that their interest rate on offer at the time wasn't the highest around, but was still fairly competitive, however I overlooked that for the banks security. Also I didn't want to tie up my investment for any length on time, and wanted it available at short notice. Rabobank offers this option too, and make it very simple. I was also impressed by the banks security consciousness, giving a free token code for added online security for accounts, as I have had to pay extra for these from other banks. I was impressed with the friendliness and level of personal service given and the bonus of very minimal waiting time, not surprising as it's not one of the major mainstream banks. Would definitely recommend it as one of the best banks around for anyone looking at Term Deposit options.
Rabo Direct is excellent.
Read full reviewRabo Direct is excellent.
Some of the Rabo Direct rates are OK - but their service and ease of use is absolutely appalling. Many other financial institutions will look after your needs better than Rabo.
Read full reviewSome of the Rabo Direct rates are OK - but their service and ease of use is absolutely appalling. Many other financial institutions will look after your needs better than Rabo.
Excellent rates. Very secure. No fuss. Excellent customer service. Most transparent bank that I have ever dealt with.
Read full reviewExcellent rates. Very secure. No fuss. Excellent customer service. Most transparent bank that I have ever dealt with.
