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Cash Advantage Fund

3.60 %p.a. Effective rate for 33% tax payers

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

InstitutionProduct nameRate (p.a.)Effective return 
at 30% (p.a.)
Effective return at 33% (p.a.)Minimum investment
Cash Advantage Fund3.30%3.44%3.60%$250
Flexi Cash2.60%2.90%3.03%$5,000
ASB Cash Fund2.75%3.12%3.26%$500
Cash PIE3.30%3.44%3.60%$1,000
Online Call Fund**2.40%2.48%2.60%$2,000
Cash Plus Trust2.75%3.12%3.26%$5,000

Figures sourced from as at 7 April 2014.
RaboDirect rates are the current rates.
** Bonus interest rate of 0.60% 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 forget

One 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 units

Another 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 Fund

The 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 form

You'll need your IRD number, bank account details and driver's licence.

Print and sign the form

You'll also need to include your supporting documents.

Freepost your documents

Remember, no stamp required!

Apply for an account

Need help?

0800 22 44 33
Mon - Fri, 8am - 7pm

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We're an online bank, made up of real people, based here in Wellington.


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Why Rabo?

RaboDirect is New Zealand's first internet only bank specialising in savings and investments.