RaboBank launches term deposit product
(20 November 2009 – Australia) In its launch of a new term deposit product paying seven percent on a five year term, RaboBank has propositioned that Australian’s need to invest in safety.
The bank, specialising in food and agribusiness, operates in 46 countries and offers rural banking in its 53 Australian branches.
Peter Knoblanche, general manager, RaboBank Rural Australia, said that the deposit product offered investors the security of depositing their money in what RaboBank considers to be a safe bank.
Mr Knoblanche added that the country is only just beginning to emerge from a period of great economic turbulence and it is important that customers’ money is invested securely.
At the end of the day a customers’ money is only as secure as the bank that is backing it, Mr Knoblanche highlighted.
RaboBank has the highest credit rating of any retail bank in Australia and, as a food and agribusiness bank, any funds deposited with RaboBank are injected back into the bank’s rural lending activities in Australia, Mr Knoblanche concluded.
The Bank’s term deposits range from 30 days to five years.
RaboBank are trying to offer customers flexibility; the term deposits have no bank or service charges, a choice of interest paid monthly, quarterly, half yearly and yearly (for terms over one year) and the option of compounding the final interest payment on maturity of the deposit, Mr Knoblanche said.
Peter Knoblanche, general manager, RaboBank Rural Australia, said that the deposit product offered investors the security of depositing their money in what RaboBank considers to be a safe bank.
Mr Knoblanche added that the country is only just beginning to emerge from a period of great economic turbulence and it is important that customers’ money is invested securely.
At the end of the day a customers’ money is only as secure as the bank that is backing it, Mr Knoblanche highlighted.
RaboBank has the highest credit rating of any retail bank in Australia and, as a food and agribusiness bank, any funds deposited with RaboBank are injected back into the bank’s rural lending activities in Australia, Mr Knoblanche concluded.
The Bank’s term deposits range from 30 days to five years.
RaboBank are trying to offer customers flexibility; the term deposits have no bank or service charges, a choice of interest paid monthly, quarterly, half yearly and yearly (for terms over one year) and the option of compounding the final interest payment on maturity of the deposit, Mr Knoblanche said.
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