IMB Bank Reward Saver Account

0% p.a.(for $0 and over)

2.40% p.a. (for $5,000 and over)

 

IMB Bank Reward Saver Account Review

Rates and fees information correct as at 19 September 2018.

Review published: 7 May 2013

What's hot:

  • Unlimited phone, internet, over the counter transactions

  • Bpay and Australia Post bill pay features

  • No account keeping fee

What's not:

  • Big ATM withdrawal fees

Mozo snapshot:

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 2.40% p.a!

Key features:

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 2.40% for the first four months after opening the account (for accounts with $5000 and over). After the first 4 months, the rate drops down to 1.40% 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, while any Westpac Group machine will charge you $1.25 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.


Who it's good for:

IMB's Reward Saver account will work well for anyone who is looking for a simple account that encourages and rewards saving.

Any catches?

Keep a close eye on your balance and keep track of your deposits to ensure you don't lose that top notch interest rate.

How are IMB Bank savings accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.6

Based on 36
IMB Bank savings accounts reviews

6.9 6.8 8.0 7.8 8.2

Read IMB Bank savings account reviews by the Mozo community

Latest reviews of IMB Bank Reward Saver Account

IMB Bank

IMB Bank Reward Saver Account savings account review

Overall rating   4 / 10

It has good services

Its a big bank and it will not lose any of my money.

Full review

Its a big bank and it will not lose any of my money.

    Price   3 / 10

    Features   3 / 10

    Customer service   4 / 10

    Convenience   4 / 10

    Trust   4 / 10

Less

Peco (NSW), reviewed 8 months ago

IMB Bank

IMB Bank Reward Saver Account savings account review

Overall rating   7 / 10

Very happy with bank

Very happy with bank

Full review

Very happy with bank

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Lisa (NSW), reviewed over 2 years ago

IMB Bank

IMB Bank Reward Saver Account savings account review

Overall rating   7 / 10

Great customer service

Excellent bank to interact with however I don't think I'm getting the most for my money

Full review

Excellent bank to interact with however I don't think I'm getting the most for my money

    Price   4 / 10

    Features   6 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   8 / 10

Less

Matthew (NSW), reviewed over 2 years ago

IMB Bank

IMB Bank Reward Saver Account savings account review

Overall rating   10 / 10

IMB is great

IMB is great.

Full review

IMB is great.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Jane (NSW), reviewed almost 3 years ago

IMB Bank

IMB Bank Reward Saver Account savings account review

Overall rating   10 / 10

Always excellent customer service

Friendly staff who over time I have got to know and respect.

Full review

Friendly staff who over time I have got to know and respect.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Marilyn (NSW), reviewed about 3 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • Balances from $0: 0.00% p.a.

  • Balances from $0: 1.40% p.a.
    Balances from $5,000: 2.40% p.a.

  • Minimum deposit of $50 and no withdrawals. Reverts to bonus rate of 1.40% after the first 4 months.

Fees

  • $0.00

  • none

  • Unlimited transactions from counter deposits, phone and internet

  • $0.70

  • IMB, Westpac

  • $0.00

  • $0.00

  • $2.25

  • $0.85

  • $0.00

  • $0.00

  • $1.00

Other financial bits

  • $1.00

  • $0.00

  • Monthly

Features

  • yes

  • $1,000.00

  • yes

  • no

  • yes

  • yes

  • yes

  • yes

  • yes

  • yes

  • yes

  • none

  • Westpac Group ATMs withdrawals are $1.25 and enquiries are $1.00.

  • none

About IMB Bank

IMB is one of Australia's largest building society servicing the lower east coast of Australia. IMB's better value banking offers its customers lower cost banking and secure services. IMBs' face-to-face facilities allow them to offer a more personalised service in taking care of the IMB community. IMB offers a range of products including insurance, business banking, term deposits, saving & transaction accounts and home & personal loans.

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