IMB Bank logo

IMB Bank Reward Saver Account

Advertiser disclosure
Interest rate
0% p.a.(for $0 and over)
Maximum rate
5.25% p.a. (for $0 to $1,000,000)
Govt deposit guarantee
Yes up to $250,000
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Mozo editorial review IMB Bank Reward Saver Account - last updated: 1 September 2023

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What's hot
  • Unlimited phone, internet & over the counter transactions
  • Up to 5.25% intro interest (on balances up to $1,000,000 when conditions are met)
  • No account keeping fee
What's not
  • 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 5.25% p.a in the first four months from opening the account

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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 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.


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Who is it good for

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

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Any catches

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

Details

Rates and fees information correct as at 27 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Balances from $0: 0.00% p.a.

Balances from $0: 5.25% p.a.
Balances from $1,000,000: 0.00% p.a.

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.

Fees

$0.00

n/a

Unlimited transactions from counter deposits, phone and internet

$0.70

IMB

$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

none

none

Customer Reviews

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

Overall
7.6/10
Price
6.7/10
Features
6.3/10
Customer service
7.8/10
Convenience
7.5/10
Trust
7.6/10
Based on 148 IMB Bank savings account reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

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