Head-to-head
Macquarie Savings Account vs Rabobank High Interest Savings Account
Rates & conditions verified 21 July 2026
Rates can change without notice. Last verified: 21 July 2026 (AEST). Please confirm details on the bank’s official page.
Two no-conditions savers with very different shapes. Macquarie pairs a welcome period with a strong ongoing rate; Rabobank leads on the headline but reverts to a lower rate after four months. Which earns more depends on whether you'll move.
Macquarie Savings Account
Best for set-and-forget savers who want a strong rate that holds up after the welcome period, with no hoops
Condition: None — welcome rate for 4 months, then ongoing variable rate
- No monthly conditions
- Ongoing rate stays competitive after the welcome period
- Suits balances you might draw down
Rabobank High Interest Savings Account
Best for rate-chasers happy to take the top headline rate now and switch again when it reverts
Condition: None for the intro rate — new customers, balances up to $250k
- Higher headline rate — but introductory only
- No monthly conditions during the intro period
- Reverts to a lower ongoing rate after four months
At a glance
| Macquarie Savings Account | Rabobank High Interest Savings Account | |
|---|---|---|
| Maximum rate (p.a.) | 5.35% | 5.90% |
| Ongoing / base rate (p.a.) | 5.00% | 4.00% |
| Condition to earn it | None — welcome rate for 4 months, then ongoing variable rate | None for the intro rate — new customers, balances up to $250k |
The verdict
Both skip the monthly card-spend and deposit hoops, so this comes down to time horizon. Rabobank wins the first four months on headline rate, then reverts — great if you'll diligently move to the next leading offer. Macquarie's welcome rate is lower than Rabobank's intro, but its ongoing rate is far stronger than Rabobank's revert rate, so for a set-and-forget home Macquarie usually pulls ahead over a full year. Check the ongoing rates in the table — that's what each pays once the promotional window closes.
FAQs
Do either of these have monthly conditions?
No. Both Macquarie and Rabobank pay their advertised rate without a monthly deposit or card-purchase condition. The catch is timing, not hoops: both feature a promotional window, after which Macquarie holds a strong ongoing rate while Rabobank reverts to a lower one.
Which is better if I won't switch banks again?
Macquarie. Its ongoing rate after the welcome period is much stronger than Rabobank's revert rate, so for money you'll leave in place it typically earns more over twelve months. Rabobank rewards people who move to the next intro offer when this one ends.
Related guides
Information verified 21 July 2026. Rates are variable and subject to change. Confirm current rates and conditions on each provider's website before applying. This is not financial advice.