The Cash Advantage Fund (CAF) is specifically designed to operate in a similar way to a traditional On Call Savings Account. It has been structured as a Portfolio Investment Entity (PIE) which means it will provide tax benefits for 30% and 33% tax payers^.
^ please refer to the current registered prospectus for further information about PIE implications for an investment in CAF
Cash Advantage Fund features
The CAF is a Managed Fund where a number of investors pool money into one fund. The money you invested is deposited with Rabobank. Key features include:
- Minimum investment only $250
- Interest compounds daily*
- Tax capped at 28%
- No minimum balance or maintenance fee
- Funds managed by AMP Capital
- Funds are on call
- Free transfers in and out
Compare call fund interest rates
 | Cash Advantage Fund | 3.30% | 3.44% | 3.60% | $250 |
 | Flexi Cash | 3.00% | 3.11% | 3.25% | $5,000 |
 | ASB Cash Fund | 2.75% | 3.27% | 3.41% | $500 |
 | Cash PIE | 3.66% | 3.82% | 3.99% | $1,000 |
 | Online Call Fund** | 2.40% | 2.48% | 2.60% | $2,000 |
 | Cash Plus Trust | 2.75% | 3.12% | 3.26% | $5,000 |
Figures sourced from 
as at 16 May 2013.
RaboDirect rates are the current rates.
** Bonus interest rate of 0.75% applicable if no withdrawals are made in the month
Features in detail
 | Your interest compounds daily*It's not often you get a low risk investment where your interest compounds daily as opposed to monthly. The effect of this is an even higher effective interest rate. |
 | Auto investment - set and forgetOne of the best ways to make the most of the Cash Advantage Fund is to set up a 'Regular Investor Plan'. This is a great way to keep your savings goals on track and once it is set up you don't need to worry about it. |
 | Pay tax annually or on sales of unitsAnother unique tax benefit is that you pay tax annually. Unlike traditional deposit products where tax is paid monthly when interest is earned. Tax is automatically deducted from your account at the end of the tax year or during the year when you sell units. |
 | Instant access to the Term Advantage FundThe Term Advantage Fund is a Term Deposit version of the Cash Advantage Fund. It offers 3, 6 and 12 month terms and competitive rates. |
*Our daily compounding interest works like this - Interest on Fund's deposited compounds daily on Tuesday, Wednesday, Thursday and Friday. On Monday, three days' interest compounds (for Saturday, Sunday and Monday).
Apply in 3 easy steps
 |  |  |
Complete our online formYou'll need your IRD number, bank account details and driver's licence. | Print and sign the formYou'll also need to include your supporting documents. | Freepost your documentsRemember, no stamp required! |
| Apply for an account |