4.15 %p.a. on call balance must increase by $50 per month

Unleash your savings potential!

If you're a regular saver or keen to start a savings habit, PremiumSaver may be perfect for you. Your money is on call and you don't need to switch banks. Cut your savings loose from your main bank to get started today!

Existing customers please login to invest | Not available for businesses or trusts

Key features

The account offers a premium rate of interest if you are an active, committed saver. The key features are listed below:

  • Earn 4.15% p.a. on balances up to $100,000*

  • To earn premium interest, you need to increase your balance by $50 before the second to last business day of each month

  • Unlimited deposits and withdrawals

  • No account fees

*If the required $50 balance increase is achieved the standard on call rate of 3.00% p.a. applies to the portion of the PremiumSaver balance over $100,000. If not, a rate of 1.00% p.a. will apply to the total PremiumSaver balance.

How it works

To earn maximum PremiumSaver interest for a month, your PremiumSaver balance must be at least $50 higher at the end of the month than at the beginning (excluding interest paid during that month).


Meet Jane

Jane has a PremiumSaver balance of $10,000 on the 1st of the month. On the 5th Jane deposits $25 into PremiumSaver then withdraws $100 on the 10th. Her balance is now $9,925. Jane then deposits $100 on the 11th and a further $50 before the end of the month. This leaves Jane with an end of month PremiumSaver balance of $10,075.

By the end of the month Jane managed to increase her total balance by $75. This qualified her for premium interest because her total balance increase was greater than the $50 minimum.

How to transfer funds

There are two ways to transfer funds into and out of your PremiumSaver account. Click the links below to see how this works:

See how we stack up!

Compare PremiumSaver to similar products from other banks:

InstitutionProductMaximum rateMinimum rateBonus criteria



Unlimited withdrawals
Increase balance by $50 per month

Serious Saver4.00%0.10%

No withdrawals
Increase balance by $20 per month

Rapid Save4.00%0.10%

One free withdrawal
Increase balance

Fast Forward Saver


No withdrawals
Bonus interest for increasing balance by $20 per month

Online Bonus Saver3.80%0.10%

No withdrawals
Deposit (any amount)

Savings Plus


No withdrawal during
the calendar quarter

Figures sourced from as at 7 April 2014.

*If the required $50 balance increase is achieved. The standard On Call rate applies to the portion of the PremiumSaver balance over $100,000. If the required $50 monthly increase is not achieved at a rate of 1.00% p.a. will apply to the total PremiumSaver balance. Interest rates are subject to change.
†Rates include bonus interest of 1.00% p.a. if at least $20 is deposited, and no withdrawals are made, each calendar month.

Tell me more

A premium rate for active savers

With our PremiumSaver account you can gain a market leading interest rate when you actively save each month. Premium interest is earned when you increase your balance by $50 by the second to last business day of the month. Balance amounts over $100,000 will not attract the premium rate, but will still attract our on call rate of 3.00% - just be sure you keep actively increasing your balance by $50 each month.

Please note: If you do not meet the minimum $50 monthly PremiumSaver increase, you will still receive 1.00% p.a. on the total PremiumSaver balance.

Hot tip: We recommend you check your balance, and make any necessary payment by the 26th of the month (it's a good idea to put a reminder in your phone).

Funds at your fingertips

PremiumSaver may be the perfect product to help you cut your savings loose from your current bank. One of the perks of having a PremiumSaver account is you can make unlimited withdrawals and transfers into your account whenever you like. Your money isn't locked away and is there if you need it for a rainy day. However, to gain the benefit of the excellent PremiumSaver interest rate you must increase your total PremiumSaver balance by $50, before the second to last business day of the month.

Interest calculated daily & paid monthly

From the day you make your first transfer into your PremiumSaver account your money will be earning interest. Interest will be earned on the daily balance of the account from the start of the month, including on any additional deposits, and is paid monthly at the end of the month.

Apply in 3 easy steps

Complete our online form

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

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

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Mon - Fri, 8am - 7pm

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