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RaboDirect
 

Interest rates

All interest rates on this page are percentage per annum (p.a.) and are shown before the deduction of taxes.

RaboSaver + PurposeSaver

Account types Tier 1 ($0 - $5m) Tier 2 ($5m plus) Minimum balance Fees Withdrawal penalties
Personal  0.75%  0.55% $0 None None
Children's  0.75%  0.55% $0 None None
Trust  0.75%  0.55% $0 None None
Business  0.75%  0.55% $0 None None

PremiumSaver

Account types Maximum rate Minimum rate Withdrawals Fees Bonus criteria
Personal 2.10%* 0.55%
Unlimited None Increase balance by $50 per month **
Children's 2.10%* 0.55%
Unlimited None Increase balance by $50 per month **

Term Deposits

Personal, Trust, Children's & Business accounts up to $5m

Terms Standard interest Monthly (interim) Quartlerly (interim) Six-monthly (interim) Minimum investment Account fees
1 month 2.05%
- - - $1,000 None
3 months 3.10%
- - - $1,000 None
6 months 3.35%
- - - $1,000 None
9 months 3.35%
- - - $1,000 None
1 year 3.40%
3.35%
3.36%
3.37%
$1,000 None
15 months 3.40%
3.35%
3.36%
- $1,000 None
18 months 3.70%
3.64%
3.65%
3.67%
$1,000 None
2 years 3.85%
3.78%
3.80%
3.81%
$1,000 None
3 years 3.95%
3.88%
3.89%
3.91%
$1,000 None
4 years 4.10%
4.02%
4.04%
4.06%
$1,000 None
5 years 4.25%
4.17%
4.18%
4.21%
$1,000 None

Standard Interest payments are paid at maturity only for terms up to 18 months, and annually and at maturity for terms of 2 years or greater. RaboDirect does not currently offer a compounding interest option for Term Deposits. The interest rates listed here are for deposits up to $5 million. For rates on deposits over $5 million please call us on 0800 22 44 33.

NoticeSaver

Account types Interest rate Notice period Minimum balance Fees
Personal 3.00% 60 days*** $0 None
Children's 3.00% 60 days*** $0 None
Trust 3.00% 60 days*** $0 None
Business 3.00 % 60 days*** $0 None

*** 60 days' notice must be given each time you wish to withdraw funds from your account. See the NoticeSaver page for more information.

Cash Advantage Fund (PIE)

Account type Interest rate Effective rate for 30% tax payers Effective rate for 33% tax payers Minimum investment Fees Withdrawal penalties
Cash Advantage Fund 0.75% 0.77% 0.80% $250 None None

Term Advantage Fund (PIE)

Terms Standard interest rate^ Effective return at 30% Effective return at 33% Minimum investment Account fees
3 months 2.95% 3.03% 3.17% $1,000 None
6 months 3.10% 3.19% 3.33% $1,000 None
1 year 3.15% 3.24% 3.39% $1,000 None

^ Returns paid at maturity and/or annually. Investments with terms covering 31 March will pay income earned up to that date, minus applicable tax, into your RaboSaver. Your 'accrued income' figure will then be reset to zero, and the income subsequently earned from 1 April up to the date of maturity will be paid, again minus applicable tax, into your RaboSaver on the maturity date. Investments with terms which don't cover 31 March will pay the accrued returns, minus the applicable tax, on maturity into your RaboSaver.