PremiumSaver

The best way to ensure you earn premium interest is to set up a Regular Savings Plan. You can set up a Regular Savings Plan and make one-off deposits from your Nominated Account online. 

1. Log into RaboDirect
2. Click 'Transfers'
3. Select the 'From' (Nominated Account) and 'To' (PremiumSaver) accounts
4. Enter the transfer details e.g. date and amount
5. Confirm the transfer with your Digipass

We recommend setting your Regular Savings Plan for the 25th of the month or earlier to ensure the funds are in your account by the last business day. 
To make deposits from an account that is not your Nominated Account, just use the facilities of the other bank.

Yes. Your funds are on call so you can make withdrawals at any time. Just keep in mind that this may affect your interest rate. 

Interest is calculated daily and paid to your PremiumSaver account on the last business day of the month. This means the interest will be included in the opening balance for the following month. 

Keep in mind:

You need to increase your previous month-end balance by $50 or more by the last business day of the month.

To make sure you don't miss out on premium interest, we recommend setting up a Regular Savings Plan.

To do this:

1. Log into RaboDirect
2. Click 'Transfers'
3. Select the 'From' (Nominated Account) and 'To' (PremiumSaver) accounts
4. Select regular transfer
5. Enter the amount, date and frequency
6. Confirm the transfer.

We recommend setting your RSP for the 25th of the month or earlier if convenient to you, to ensure the funds reach your account in time.

You can check your balance and see if funds need to be added to your PremiumSaver online. 

1. Log into RaboDirect
2. Click ‘Savings’
3. Click your PremiumSaver account number
4. You will then see your balance, the interest rates and a statement advising if you need to add funds to your account to earn maximum interest

If this says “… you need to increase your balance by $0.00 …” then the $50 balance increase has already been met.

Yes. PremiumSaver interest rates are variable and are subject to change.

You are welcome to keep the account open so you can use it again in future. It can stay open at a zero balance and doesn’t incur fees.
To close the account:

1. Log into RaboDirect
2. Empty the account using the ‘Transfers’ function
3. Click ‘My Rabo’ then ‘Create new message’
4. Confirm in the message you would like to close your PremiumSaver
5. Click ‘Send’

We will then close the account and pay any remaining interest to your RaboSaver account.

Yes. You can set up a regular transfer into your PremiumSaver from your Nominated Account. 

1. Log into RaboDirect
2. Click ‘Transfers’
3. Select the ‘From’ (Nominated Account) and ‘To’ (PremiumSaver) accounts
4. Select regular transfer. 
5. Enter the amount, date and frequency.
6. Confirm the transfer.

We recommend you set up a regular savings plan for the 26th of the month, or an earlier date that is convenient to you. Doing this will ensure that the money is received by us before the last business day of the month.