Head-to-head
Macquarie Savings Account vs Rabobank High Interest Savings Account
Rates & conditions verified 31 October 2026
Rates can change without notice. Last verified: 31 October 2026 (AEST). Please confirm details on the bank’s official page.
Two no-conditions savers with very different shapes. Macquarie pays one steady ongoing rate with nothing to outlast; 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 never steps down, with no hoops
Condition: None — one ongoing variable rate, no introductory period
- No monthly conditions
- No introductory period to outlast
- 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
| Feature | Macquarie Savings Account | Rabobank High Interest Savings Account |
|---|---|---|
| Maximum rate (p.a.) | 5.25% | 6.15% |
| Ongoing / base rate (p.a.) | 5.25% | 4.15% |
| Condition to earn it | None — one ongoing variable rate, no introductory period | 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 has no introductory rate at all: what you sign up at is what you keep, and it 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 Rabobank's 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: Rabobank's headline is a four-month introductory rate that then reverts, while Macquarie's rate is simply its ongoing rate.
Which is better if I won't switch banks again?
Macquarie. Its ongoing rate 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.
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Information verified 31 October 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.