RaboPlus -- the online banking division of Rabobank Australia Limited -- will lift its on-call variable interest rate from 7.3 per cent to 7.8 per cent per annum paid on its online savings deposits, effective from today.

RaboPlus is offering this promotional rate for deposits up to $1 million. For remaining balances over $1 million, the current RaboPlus standard variable rate of 7.30 per cent per annum will apply -- remaining one of the highest on-call standard variable rates in the market.

The variable rate offer will apply to both existing and new RaboPlus customers and will apply until July 31, 2008. The rate will then revert back to the standard on-call variable rate currently 7.30 per cent per annum.

Head of Financial Services of RaboPlus Australia & New Zealand Bryan Inch said: "This is in line with our policy of providing competitive market interest rates to our customers."

The rate is also available to DIY superannuation funds, trusts and business accounts, making it the highest interest rate in the market for these customers.

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

Mr Inch said that customers can feel more secure with our AAA credit rating from Standard and Poor's.

RaboPlus high interest online savings are backed by Rabobank, the world's leading specialist in food and agribusiness banking. Rabobank has also been ranked the world's safest non-government owned bank by Global Finance Magazine for the third year in a row in 2007 and has the highest possible credit ratings from both Standard & Poor's (AAA) and Moody's Investor Service (Aaa). It has held these Triple A ratings for over 25 years.

RaboPlus also offers online low-cost access to a selection of leading wholesale 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 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 is also ranked one of the world's safest banks by Global Finance magazine. 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 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 www.raboplus.com.au. Consider relevant disclosure documents when deciding whether to acquire, or continue to hold, RaboPlus products.

Ratings are subject to change. For the latest ratings information please visit 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.