Summary

Choice of term lengths from 1 month to 5 years with competitive fixed interest rates and a small opening deposit of $1,000.

The Rabobank term deposit has a small opening deposit requirement and a large choice of term lengths. If you automatically reinvest your deposit when your term reaches maturity, you'll be rewarded with a 0.10% p.a. loyalty bonus rate. Plus, your deposit up to $250,000 with Rabobank is protected under the Australian Government Guarantee.

Pros

$0 Account keeping fees
Loyalty bonus rate of 0.1% p.a. available when reinvesting
Flexible terms from 1 month to 5 years
Small minimum investment of $1,000

Cons

31 days advance notice required in case of withdrawing funds before maturity

Details

Key details

Product Name	Rabobank Term Deposit
3 month interest rate	4.55%
6 month interest rate	4.50%
9 month interest rate	4.20%
12 month interest rate	3.95%
24 month interest rate	3.70%
36 month interest rate	3.80%
48 month interest rate	4.15%
60 month interest rate	4.30%
Minimum Opening Deposit	$1,000
Minimum age requirement	18
Government guarantee	Yes

Eligibility

Minimum Age Requirement	18
Joint account availability	Yes
Min Deposit	$1,000
Available to children	Not available for children

Key features

Small minimum investment amount of $1,000

You are required to make an investment of at least $1,000 into your term deposit.

$0 Monthly account keeping fees

There are no monthly account keeping fees taking away from your savings with Rabobank's term deposit.

Large choice of terms

You can invest your money for as little as 1 month or up to 5 years.

Linked bank account

The term deposit needs to be linked to a Rabobankhigh interest savings account. This will allow for you to make transfers into your term deposit and receive your periodic interest payments.

Competitive interest rates

The interest rates for the term deposit are fixed, and tiered to give you the highest rates for the longest terms. Interest rates shown in the table above for the 3 and 6 months terms have interest paid at maturity, all other terms are for interest paid annually.

How is my interest calculated and paid?

Interest is applied to the daily balance of your account and paid into your linked account unless you choose payment at maturity, in which case it can be added directly to your term deposit balance. For terms of less than a year, you can only have the interest payment made at maturity. For other lengths of time you can choose from monthly, quarterly, bi-annual, annual and maturity payments. Interest rates are slightly lowered when you choose payments that are closer together.

0.10% p.a. Loyalty bonus

If you automatically reinvest your term deposit into a new one when it reaches maturity, Rabobank pays you for your loyalty by adding an additional 0.10% per annum to your interest rate.

Reinvestment options

You have up until the business day before maturity to let Rabobank know whether you will be reinvesting all, part or none of your deposit into new terms. If you neglect to give them that notice, the money will be automatically rolled into a new account for the same terms, but at the prevailing fixed interest rate plus the loyalty bonus.

Covered by the Australian Government Guarantee Scheme

Your deposit up to $250,000 with Rabobank is protected under the Australian Government Guarantee Scheme.

Launch term deposit calculator

How to apply

Eligibility

The first page of the application is going to ask that you are able to meet the following eligibility conditions:

Minimum age. Applicants must be at least 18 years of age.
Residency requirements. You must be an Australian resident for tax purposes with a residential address in Australia.

Documentation needed

In addition, you must have a Rabobank High Interest Savings Account active at all times when you are their customer. Rabobank also makes recommendations on the types of documentation you will need as you fill out the application:

Tax file number. Rabobankwill use your tax file number (TFN) or exemption code to ensure that your withholding tax on the earned interest is at the correct rate.

Identification. The details of your driver's licence, passport, or Medicare card.
Account information. You must be able to provide the BSB and account number for a non Rabobank bank account in your name with an Australian financial institution.

What happens after I submit my application?

So long as Rabobank is able to verify your identity online, your term deposit account will be linked to your banking account and you can make your deposit in order to activate the terms. You will then begin earning the competitive interest rate on your savings balance.

FAQ

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Alison Finder

Editorial Manager, Money

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Richard

March 21, 2025

Who owns Rabbo bank and is it grouped with any other banks for the ADI? Thanks

Richard Whitten Finder

March 24, 2025

Hi Richard,

Rabobank has its own ADI and doesn’t share it with any other banks. Rabobank is foreign owned according to APRA’s ADI list, and the ultimate parent company is Coöperatieve Rabobank U.A., which is incorporated in the Netherlands.

Stephen

May 02, 2023

I have a Rabobank High Interest Account. Does the Government Guarantee apply to a new Rabo deposit account?

Alison Banney Finder

May 02, 2023

Hi Stephen, you’ll be covered for your first $250k (even if this is spread across several different accounts with the bank). The guarantee is per person per ADI, not per account.

Mark Rogers

October 21, 2022

Is Rabo known as authorised deposit-taking institutions or ADIs

And covered under the Australian Government Financial Claims Scheme

Alison Banney Finder

November 11, 2022

Hi Mark,

Yes, Rabobank is an authorised deposit-taking institution (ADI) covered by the Australian Government Guarantee under the Government’s Financial Claims Scheme (FCS).

Thanks,

Alison

John

June 24, 2022

If I take out a 12 month term deposit with $100,000 and I decide to withdraw after 6 months giving 31 days notice, will the interest on the amount withdrawn be reduced.

Alison Banney Finder

July 09, 2022

Hi John,

If you withdraw early or break your Rabobank Term Deposit prior to maturity, you will be required to provide at least 31 calendar days’ notice. An early withdrawal fee will be applied unless it is determined that you are suffering financial hardship.

The early withdrawal fee will be an amount which will be equivalent to reducing the interest rate on your Term Deposit according to their preset calculation.

You can refer to the Terms and Conditions for details.

I hope this helps!

Regards,

Alison

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Toni

May 21, 2019

Is my money secure? The amount I invest is the same as I get back plus interest.

Nikki Angco

May 22, 2019

Hi Toni,

Thanks for your inquiry.

When you invest your money into any term deposit account, you will get your money back including the declared interest rate you earn after the maturity date. You also get a loyalty bonus rate of 0.1% p.a. available when you reinvest your money.

Rabo Direct is protected by the government guarantee for the first $250,000 of all deposits held with Rabobank. To know how banks protect your money, please refer to our Australian Government Guarantee Scheme guide.

As a friendly reminder, review the eligibility criteria and read up on the terms and conditions of the account before applying. Feel free to reach out to the bank if you need any clarifications.

Hope this helps!

Best,

Nikki

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Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

Rabobank Term Deposit

Pros

Cons

Key features

Small minimum investment amount of $1,000

$0 Monthly account keeping fees

Large choice of terms

Linked bank account

Competitive interest rates

How is my interest calculated and paid?

0.10% p.a. Loyalty bonus

Reinvestment options

Covered by the Australian Government Guarantee Scheme

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

FAQ

What are current interest rates for 6 months and 12 months term for $110,000.00?

Compare other term deposit accounts

Compare other products from Rabobank

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