RaboDirect Term Deposit

RaboDirect
Headline interest rate p.a.
4.60%
Monthly fee
$0
Account type
Term deposit

Moneybuddy says

Term Deposit by RaboDirect offering a competitive savings interest rate of up to 4.60% for a 5 year term with interest paid annually. Shorter terms are also available with the highlight being a 12 month term deposit that earns interest of 4.15% p.a at maturity. There is also an additional 0.10% p.a. loyalty bonus when you choose to automatically reinvest your deposit.

The Basics

Interest paid Annually

Interest calculated Annually

Headline interest rate p.a. 4.60%

Monthly fee $0

Account type Term deposit

The cool stuff: features

ATM access No

EFTPOS access No

Branch access No

Internet Banking No

Age restrictions No

Cheque book facility No

Debit card No

BPAY No

GiroPost No

Phone access No

The Facts & Figures

Balance less than $1k (p.a.) 0%

Balance less than $5k (p.a.) 4.70%

Balance less than $25k (p.a.) 4.70%

Balance greater than $100k (p.a.) 4.70%

Min. balance $1,000

Min. opening deposit $1,000

Number of free elect transactions per month -

The ugly stuff: fees

Other bank ATM fee $0

EFTPOS transaction fee $0

Branch assistance fee $0

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Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

RaboDirect says

How does your bank compare? 4.70% p.a for 5 years or 4.15%p.a. for 12 months. Invest from only $1,000, From Australia's safest bank#, Available to DIY super customers, Available for deposits under $2 million. Rate shown is for a 60 month term deposit for amounts from $1,000 to a maximum of $2,000,000 per customer and is subject to change at any time. Limit includes joint accounts and accounts held on behalf of other persons. Conditions apply. Early termination fees apply to term deposits.

Key features

  • 0.10% p.a. loyalty bonus when you choose to automatically reinvest
  • Interest paid monthly, quarterly, half yearly or yearly
  • Start with as little as $1,000

Pros

  • Choose a term deposit from 1 month to 5 years
  • 5 year term deposit has a current rate of 4.60% p.a
  • 12 month term deposit has a current interest rate of 4.15% p.a
  • Easy online application to get started
  • Interest paid monthly, quarterly, half yearly or yearly (rates shown for yearly interest payment)
  • Bonus 0.10% p.a interest rate when you choose to automatically reinvest

Cons

  • You need to start with at least $1,000
  • You might prefer the flexibility of a high interest online savings account
 

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