Rabobank Term Deposits

RaboDirect is the online banking arm of the Rabobank Group and being based almost entirely online means that RaboDirect can offer you very competitive interest rates on a range of term deposit options. Benefits of choosing RaboDirect for your term deposit account:

• RaboDirect is the world’s safest bank, and Australia’s only AAA rated financial institution.
• RaboDirect allows you to open, manage and alter your term deposit options in internet banking and as a result offers you very competitive, fee free term deposit options.
• RaboDirect takes online security very seriously and you will be issued with a Digipass as an added level of security for your investments.
• You can enjoy a balance of security and certainty in investing in a term deposit account, while enjoying the flexibility of being able to set up your term deposit accounts entirely online and tailor all the options to best suit your investment needs.

RaboDirect supplies very competitive and intuitive savings products and if choosing a flexible but secure term deposit account sounds like the financial product for, read on to find out more about a RaboDirect term deposit.

Features of a RaboDirect Term Deposit

You can invest in a term deposit with Rabobank for a term of between one month and five years and you can apply for your term deposit entirely online. Gone are the days when you needed a financial planner and accountant to manage your investments because you can calculate all of the possible outcomes of your term deposit choices before you lock in your investment amount and term so you can be sure you’re making the right choice.

Options for a Rabobank term deposit account:

• You must invest a minimum of $1,000. This is a relatively small minimum balance required compared to that of other term deposit providers and allows you to test out the term deposit waters with a small investment, before committing a larger amount for larger returns.
• For investments over one year you can choose a payment frequency. You can use your term deposit investment as a way to supplement your income by having your interest returns paid to you monthly, quarterly, six monthly or yearly on investments for longer than 12 months.
• You can choose an automatic reinvest at the end of your term. Before you start your term deposit investment you can choose to have the investment rolled over into another term deposit at the end of the first term, at the new current rate. You can also choose the Capitalise Interest option which means reinvesting both your principal amount and your interest earned during your first term, into another term. You can also cancel your chosen reinvestment option at any time during your term deposit by using internet banking.

How to Open and Use a RaboDirect Term Deposit

A RaboDirect term deposit account allows you to be in control from the beginning as you can calculate the best term and investment amount for you, and you can even open the account yourself whenever it suits you.

Managing your term deposit in internet banking:

• To open a RaboDirect term deposit you need a RaboDirect savings account. You can apply for an open a RaboDirect savings account online and once your savings account is activated you can assign any amount you choose, over $1,000, to a term deposit investment.
• You can open as many term deposit accounts as you choose. Once you have set up your RaboDirect savings account and internet banking you can have as many term deposits open as you like as long as each has a minimum balance of $1,000.
• You can view the details of your term deposits in internet banking. When you log into RaboDirect internet banking you will be able to see the term deposit accounts you already have and you can view and change the reinvest options or cancel a reinvest you have chosen for a term deposit.
• Use the Rabobank tools to help you decide on a term deposit that is best for you. On the RaboDirect website you can use their term deposit calculator and their term deposit income calculator to see how much you will be able to earn from your investment. You can see the differences it makes to change the interest payment terms and the amount of your investment and you can see the amount you need to invest to ensure an income which will help with your expenses or other savings plans.
• RaboDirect internet banking is secured with a Digipass. A Digipass is issued to each new RaboDirect customer and you use it to log into internet banking. You enter your customer PIN into your Digipass and it then generates a unique code which you enter into the online banking login screen on your computer. The code is unique and can only be used at that time, to login again, you will need to generate another unique code.

To compare more term deposit investment options and find out about term deposit accounts available online in Australia you can view our comparison tableshere. Once you have confirmed the term deposit details which best suit you, you can follow our secure links to an online application form to start your term deposit application process today.