Rabobank Term Deposit

1.65% p.a.6 months

no

Rabobank Term Deposit

1.65% p.a.6 months

no

Mozo Review   Rabobank Term Deposit Review

Last updated: 8 October 2019.

What's hot:
  • 1.65% for a 6 month term

  • 0.10% loyalty bonus applied when a term deposit is automatically reinvested

  • 2019 Mozo Experts Choice Award winner

What's not:
  • A 31 day advance notice period required for withdrawing funds before maturity + fees may apply

Mozo snapshot:

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 1.65% on a 6 month term and users are able to choose to have their interest paid on a monthly, quarterly, half-yearly or yearly basis. The account was also named a winner in the 2019 Mozo Experts Choice Awards in the Term Deposits category, making it a worthy contender for reaching your savings goals.

Key features:

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 six month term on balances between $1,000 and $2,000,000 you’ll be able to earn a 1.65% interest rate. For a four year term, you’ll earn an interest rate of 1.35% and for a five year term, you’ll receive an interest rate of 1.45%. And best of all, 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, annually and at maturity. 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.

Who it's good for:

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.

Any catches?

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. 

Details

Rates and fees information correct as at 11 December 2019. 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
  • 1.45% p.a. ($1,000 to $2,000,000)

  • 1.60% p.a. ($1,000 to $2,000,000)

  • 1.65% p.a. ($1,000 to $2,000,000)

  • 1.60% p.a. ($1,000 to $2,000,000)

  • 1.50% p.a. ($1,000 to $2,000,000)

  • 1.25% p.a. ($1,000 to $2,000,000)

  • 1.15% p.a. ($1,000 to $2,000,000)

  • 1.35% p.a. ($1,000 to $2,000,000)

  • 1.45% p.a. ($1,000 to $2,000,000)

Other financial bits
  • $1,000.00

  • $2,000,000.00

Features
  • direct credit

  • no

  • yes

  • none

  • 0.10% loyalty bonus applies when a term deposit is automatically reinvested.

*Different interest rates apply to different amounts or different interest payment frequencies.

Customer Reviews

How are Rabobank term deposits rated by the Mozo community?

Overall customer rating
8.0/10
Price
8.3/10
Features
8.0/10
Customer service
7.3/10
Convenience
7.4/10
Trust
8.1/10

Latest reviews of Rabobank Term Deposit

  • Overall
    7/10
    excellent

    You have to be computer literate.

    You have to be computer literate.

    Price
    8/10
    Features
    5/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10

    Bernard | Queensland

    reviewed almost 6 years ago

  • Overall
    9/10
    Best banking secret

    I did my research into banks, with my criteria being a competitive interest, easy access to my...

    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.

    Price
    5/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    10/10

    Philippa | Queensland

    reviewed about 6 years ago

  • Overall
    8/10
    Very competitive

    Rabo Direct is excellent.

    Rabo Direct is excellent.

    Price
    8/10
    Features
    6/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    10/10

    Name not supplied | Queensland

    reviewed over 6 years ago

  • Overall
    1/10
    Disgraceful customer service

    Some of the Rabo Direct rates are OK - but their service and ease of use is absolutely appalling....

    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.

    Price
    2/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    1/10
    Trust
    0/10

    Bruce | New South Wales

    reviewed over 6 years ago

  • Overall
    10/10
    Excellent rates and very professional

    Excellent rates. Very secure. No fuss. Excellent customer service. Most transparent bank that I...

    Excellent rates. Very secure. No fuss. Excellent customer service. Most transparent bank that I have ever dealt with.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    David | Queensland

    reviewed almost 7 years ago

Rabobank

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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