Mortgage, Loans, Insurance, Real Estate, Investment, Tax and Financial Services

RaboPlus Increases Online Savings Rate to 7.10 Per Cent Per Annum

Sydney (PRWEB) October 29, 2007 -- RaboPlus (http://www.raboplus.com.au) - the online banking division of AAA rated Rabobank (http://www.rabobank.com) - will lift its variable interest rate from 6.70 per cent pa to 7.10 per cent pa on its online savings deposits (http://www.raboplus.com.au/savings/default.aspx) below $1 million. For deposits over $1 million, the standard on call rate, currently 6.7 per cent pa will apply.

The offer will apply to both existing and new RaboPlus customers and will be effective until January 2, 2008. It will then revert to the standard on call rate, currently 6.7 per cent pa.

The rate is also available to DIY super, trusts and business accounts, making it one of the highest interest rates in the market for these types of customer accounts.

It requires no minimum balance, no fees, interest is calculated daily and paid monthly, and accounts are accessible online 24/7.

Head of Financial Services for Rabobank Australia & New Zealand Bryan Inch (http://www.raboplus.com.au/blog/) said: "With RaboPlus you do not need to switch banks or open another RaboPlus account to get the top online savings interest rate. Customers need to drill down into the detail of competitors' online savings offers to see if they can match ours."

Mr Inch says the stability of a financial institution should be a major factor for customers in any investment decision they are contemplating.

RaboPlus high interest online savings is backed by Rabobank, the world's leading specialist in food and agribusiness banking. Rabobank has the highest possible credit ratings from both Standard & Poor's (AAA ) and Moody's Investor Service (Aaa), and has held these Triple A ratings for over 25 years.

Rabobank has also been voted the world's safest private bank by Global Finance Magazine (http://www.gfmag.com/index.php?idPage=612) for the third year in a row.

RaboPlus also offers a selection of terms and rates for Term Deposits (http://www.raboplus.com.au/term_deposits/default.aspx), which are currently paying up to 7.25 per cent pa and has online low-cost access to a selection of wholesale and retail managed funds (http://www.raboplus.com.au/managed_funds/default.aspx).

RaboPlus provides every customer a free Vasco Digipass - a state-of-the-art hand-held device which provides leading online banking security (http://www.raboplus.com.au/online_security/default.aspx).

Mr. Inch said the Digipass security device frustrates internet fraud by adding extra layers of security beyond that of a username and password, and even beyond the security level of a random-number-generating token.

To apply for the new high interest rate click here (http://www.raboplus.com.au/savings/default.aspx)

RaboPlus is a division of Rabobank Australia Limited, part of the international Rabobank Group, the world's leading specialist in food and agribusiness banking. Rabobank has more than 100 years' experience providing customised banking and finance solutions to businesses involved in all aspects of food and agribusiness. Rabobank has the highest possible credit ratings from both Standard & Poor's (AAA) and Moody's Investor Service (Aaa), and has held these Triple A ratings for over 25 years. Rabobank is also ranked one of the world's safest banks by Global Finance magazine. Rabobank operates in 42 countries, servicing the needs of more than nine million clients worldwide through a network of more than 1500 offices and branches. Rabobank has 78 branches throughout Australasia. Rabobank is among the 20 largest banks in the world based on tier one capital.

The issuer of RaboPlus and its related products is Rabobank Australia Ltd ABN 50 001 621 129 AFSL no. 234700. The PDS, IDPS Guide, and full Terms and Conditions relating to RaboPlus products are available on application or at raboplus.com.au. Consider relevant disclosure documents when deciding whether to acquire, or continue to hold, RaboPlus products. Fees are payable if a term deposit is repaid prior to maturity. Interest rates are correct as at 30/10/07 and are subject to change.

Media contact:

Tony Rasman

Fleishman-Hillard Australia

02 99568000/0418208770

tony.rasman(@)fleishman.com

###

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