IMB's Reward Saver account is an accessible, simple, no frills account that is designed to incentivise saving. More cash in the bank equals a higher interest rate - you can grab up to 5.25% p.a in the first four months from opening the account
The IMB Reward Saver account works well for serious savers. A $50 deposit and no withdrawals in the month will get you an interest rate of 5.25% for the first four months after opening the account (for balances up to $1,000,000). After the first 4 months, the rate drops down to 3.25% if you still meet the deposit and withdrawal conditions.
If you're planning on using this account for anything other than serious savings, it's going to cost you. Any IMB ATM withdrawal will set you back 70 cents to access your cash. And don't think you can escape the fees by heading into a branch - an over the counter withdrawal will cost you $2.25. As an added sting, any Eftpos transaction from the account will incur an 85 cent fee.
If all these fees are sounding a bit excessive, don't stress. Customers are entitled to unlimited free phone and internet transactions, as well as free over the counter deposits, so transferring your money out of the Reward Saver and into a spending account won't cost you anything.
IMB's Reward Saver account will work well for anyone who is looking for a simple account that encourages and rewards saving.
Keep a close eye on your balance and keep track of your deposits to ensure you don't lose that interest rate.
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Balances from $0: 0.00% p.a. |
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Balances from $0: 5.25% p.a. |
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Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals. |
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$0.00 |
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n/a |
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Unlimited transactions from counter deposits, phone and internet |
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$0.70 |
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IMB |
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$0.00 |
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$0.00 |
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$2.25 |
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$0.85 |
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$0.00 |
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$0.00 |
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$1.00 |
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$1.00 |
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$0.00 |
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Monthly |
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yes |
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$1,000.00 |
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yes |
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no |
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yes |
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yes |
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yes |
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yes |
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yes |
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yes |
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yes |
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none |
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none |
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none |
We love this bank gave us a great home loan refinanced at better than our current bank. Their savings account gives a great interest rate
Read full reviewWe love this bank gave us a great home loan refinanced at better than our current bank. Their savings account gives a great interest rate
An absolute joke of a bank, $5000 daily transfer limit, we live in 2021 no 1921 you monkeys.
Read full reviewAn absolute joke of a bank, $5000 daily transfer limit, we live in 2021 no 1921 you monkeys.
Its a big bank and it will not lose any of my money.
Read full reviewIts a big bank and it will not lose any of my money.
Very happy with bank
Read full reviewVery happy with bank
Excellent bank to interact with however I don't think I'm getting the most for my money
Read full reviewExcellent bank to interact with however I don't think I'm getting the most for my money
Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
0.55% p.a.(for $0 and over)
Yes up to $250,000
Bonus Saver
5.00% p.a. (for $0 and over)
1.00% p.a.(for $0 and over)
Yes up to $250,000
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
2.85% p.a.(for $0 to $50,000)
Yes up to $250,000
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
1.85% p.a.(for $0 and over)
Yes up to $250,000
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Savings Account
5.35% p.a. (for $0 to $250,000)
Yes up to $250,000
4.75% p.a.(for $0 to $1,000,000)
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
Yes up to $250,000
0.55% p.a.(for $0 and over)
Bonus Saver
5.00% p.a. (for $0 and over)
Yes up to $250,000
1.00% p.a.(for $0 and over)
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
0.05% p.a.(for $0 and over)
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
Yes up to $250,000
1.85% p.a.(for $0 and over)
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
Yes up to $250,000
2.85% p.a.(for $0 to $50,000)
