RaboPlus Lifts Interest Paid On Online Savings Accounts to a High 8 Per Cent PA

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Online bank, RaboPlus, from Australia's safest bank, is lifting the promotional interest rate paid on its online at call savings deposits from 7.80 per cent to 8 cent per annum effective from June 6, 2008 for all Australian investors.

This is a very competitive rate that reflects our market-leading position.

Online bank, RaboPlus, from Australia's safest bank, is lifting the promotional interest rate paid on its online at call savings deposits from 7.80 per cent to 8 cent per annum effective from June 6, 2008 for all Australian investors.

The RaboPlus interest rate will apply until 31 July to entire balances under $1 million, and for balances over a $1 million customers can still enjoy a high standard variable rate of 7.30 per cent per annum on high interest saving accounts.

The new rate remains higher than the Reserve Bank of Australia's current cash rate of 7.25 per cent.

This will apply to both existing and new RaboPlus customers.

Head of Financial Services for RaboPlus Australia & New Zealand Bryan Inch said: "This is a very competitive rate that reflects our market-leading position."

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

To establish an account requires no minimum balance, there are no banking fees, interest is calculated daily and paid monthly, and accounts are accessible online 24/7 using one of the most secure online banking systems, the patented digipass.

RaboPlus also offers a selection of terms and rates for term deposits, which are currently paying up to 8.25 per cent per annum and provides online access to a selection of DIY wholesale and retail managed funds from leading fund providers.

RaboPlus is the Australian online banking operation of the Rabobank Group.

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 been ranked as the world's safest non-government owned bank by Global Finance Magazine for the third year in a row in 2007.

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 43 countries, servicing the needs of more than nine million clients worldwide through a network of more than 1500 offices and branches. Rabobank operates in 79 locations throughout Australasia. Rabobank is among the 20 largest banks in the world based on tier one capital.

The issuer of RaboPlus and its related deposit products is Rabobank Australia Limited ABN 50 001 621 129 AFSL no. 234700. The 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.

RaboPlus deposits are guaranteed by Rabobank Australia Limited's ultimate parent, ranked safest non-government bank by Global Finance magazine, 2007.

Ratings are subject to change. For the latest ratings information please visit http://www.standardandpoors.com. Ratings issued by Standard & Poor's (Australia) Pty Ltd are solely statements of opinion and not statements of fact or recommendations to make any investment decisions.

Fees are payable if term deposits are broken prior to maturity.

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

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