Rabobank High Interest Savings Account Review (2026)
Rates and conditions verified 17 May 2026
Rates can change without notice. Last verified: 17 May 2026 (AEST). Please confirm details on the bank’s official page.
Intro rate (4 months)
5.90%
p.a. for new customers
Ongoing rate
4.00%
p.a. no conditions
Monthly conditions
None
no hoops to jump through
How the Rabobank HISA Works
Rabobank's High Interest Savings Account (HISA) is one of the simpler high-interest accounts available in Australia. There are no monthly conditions — no minimum deposit, no transaction requirements, no restrictions on withdrawals. You simply open the account and earn interest.
New personal customers earn a 5.90% p.a. introductory rate for the first 4 months (made up of the 4.00% p.a. standard rate plus a 1.90% p.a. introductory bonus). After 4 months, the rate drops to the standard variable rate — currently 4.00% p.a. — which remains competitive with no conditions attached.
Rabobank is a Dutch bank that operates in Australia primarily as an online savings bank. Deposits are protected under the Australian Government's Financial Claims Scheme up to $250,000 per person.
Current Interest Rates
| Rate type | Rate | Who it applies to |
|---|---|---|
| Standard variable rate | 4.00% p.a. | All customers, always |
| Introductory bonus | +1.90% p.a. | New customers, first 4 months |
| Total intro rate | 5.90% p.a. | New customers, first 4 months |
| Balance cap | Up to $250,000 | Balances above earn standard rate |
Rates as at 17 May 2026. Variable — check Rabobank's website for the latest.
The 4-Month Introductory Rate — Key Details
- Applies to new personal customers only (joint accounts included)
- Not available if you've closed a Rabobank Online Savings account within the previous 2 years
- The 4-month period starts from the day your BSB and account number are issued, not from when you first deposit funds
- Applies to balances up to $250,000
- Different rates apply to SMSF and business customers
Pros and Cons
Pros
- ✓ No monthly conditions — simplest account to maintain
- ✓ Strong 5.90% p.a. intro rate (highest we track)
- ✓ Solid 4.00% p.a. ongoing with no hoops
- ✓ No account keeping fees, no minimum balance
- ✓ Government deposit guarantee up to $250,000
- ✓ Multiple award wins (Mozo, Finder)
Cons
- ✗ Intro rate lasts only 4 months — plan accordingly
- ✗ 4.00% ongoing is lower than ubank's 5.10% bonus rate
- ✗ Not available if you've held a Rabobank account in the last 2 years
- ✗ Online/app only — no branches
- ✗ Introductory period starts on account opening, not funding date
Who Is It Best For?
The Rabobank HISA is the best choice for savers who want a high rate without the monthly admin. If you dislike tracking deposits, avoiding withdrawals, or completing transactions just to earn interest — Rabobank's no-conditions model is a standout.
It's particularly attractive for lump-sum savers. If you have a large amount sitting idle (say, a house deposit or an inheritance), parking it in the Rabobank HISA for 4 months at 5.90% p.a. on up to $250,000 is straightforward and high-return.
How It Compares
- ubank Save: 5.85% intro, 5.10% ongoing (must grow balance each month)
- ING Savings Maximiser: 5.50% (requires $1,000 deposit + 5 card purchases)
- Macquarie: 5.10% intro (4 months), 4.75% ongoing (no conditions)
- Rabobank: 5.90% intro (4 months), 4.00% ongoing (no conditions)
FAQs
What is the introductory rate?
New personal customers earn 5.90% p.a. for the first 4 months — made up of 4.00% standard + 1.90% introductory bonus on balances up to $250,000.
Are there any monthly conditions?
No. Unlike most high-interest accounts, the Rabobank HISA has no monthly deposit, transaction, or balance-growth requirements.
Is it available to SMSF or business customers?
Yes, but different rates apply. The intro rate described here is for personal accounts only. Check Rabobank's website for SMSF and business rates.
Information is general in nature and may change without notice. Rates verified 17 May 2026. Confirm current rates and conditions on Rabobank's website before applying. This is not financial advice.