RaboPlus Lifts Interest Paid to a High of 7.05 per cent pa on Online Savings Accounts

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Online banking service RaboPlus will lift the standard on-call interest rate paid on its online savings deposits to 7.05 cent per annum effective today. This rate remains higher than the Reserve Bank of Australia's cash rate of 7 per cent.

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We aim to maintain our market-leading position and provide one of the highest interest rates in Australia to our customers.

Online banking service RaboPlus will lift the standard on-call interest rate paid on its online savings deposits to 7.05 cent per annum effective today. This rate remains higher than the Reserve Bank of Australia's cash rate of 7 per cent.

This will apply to both existing and new RaboPlus customers.

RaboPlus will also lift interest rates on its term deposits. Its 12 month Term Deposit will rise from 7.55 per cent to 7.75 per cent.

Head of Financial services of RaboPlus Australia & New Zealand Bryan Inch said: "We aim to maintain our market-leading position and provide one of the highest interest rates in Australia to our customers."

The rate is also available to DIY super, trusts and business accounts, making it the best rate in the market for these types of customers.

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

RaboPlus is the online banking division of AAA rated 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 ranked as the world's safest private bank by Global Finance Magazine for the third year in a row in 2007.

RaboPlus also offers a selection of terms and rates for term deposits, which are currently paying up to 7.75 per cent pa and has online low-cost access to a selection of wholesale and retail managed funds.

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 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 http://www.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.

Media contact:
Tony Rasman
Fleishman-Hillard Australia
02 99568000/0418208770
tony.rasman(@)fleishman.com

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