Interest rate
0.01% p.a.(for $0 and over)
Maximum rate
0.30% p.a. (for $0 and over)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review NAB Reward Saver

Last updated: 10 March 2021.

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What's hot
  • Special 0.30% p.a rate
  • Unlimited branch, phone and internet transactions
What's not
  • 0.01% p.a standard rate
Mozo snapshot

The NAB Reward Saver is a simple savings account with a 0.30% interest rate that is designed to help customers reach their savings goals, with all the features you'd expect from a major bank. 

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Key features

NAB's Reward Saver incentivises saving by offering customers a 0.30% special interest rate if they make at least one deposit a month and refrain from making any withdrawals. The breaking of these conditions results in the interest rate reverting to a paltry 0.01% - something no serious saver wants to see. 

Customers have access to a wide variety of free depositing options with unlimited branch, phone and interest transactions coming as part of the package. 

The Reward Saver also has no limits or restrictions on account balance, allowing customers from all walks of life to get a good savings deal.

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Who is it good for

The NAB Reward Saver is perfect for anyone looking to start a savings regime and stick to it. 

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Any catches

Make sure you stick to the strict deposit and withdrawal conditions to keep that special rate. 

Details

Rates and fees information correct as at 22 June 2021. 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: 0.01% p.a.

  • Balances from $0: 0.30% p.a.

  • To earn the bonus interest, you must make no withdrawals and at least one deposit in the month (NAB need to receive the deposit on or before the second last banking day of the month). If you earn bonus interest, NAB calculate it using your daily closing balance throughout the month.

Fees
  • $0.00

  • n/a

  • unlimited free transactions from branch, internet and phone

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • yes

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • none

Customer Reviews

How are NAB savings accounts rated by the Mozo community?

Overall
7.9/10
Price
7.4/10
Features
6.8/10
Customer service
7.8/10
Convenience
8.0/10
Trust
7.9/10

Latest reviews of NAB Reward Saver

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About NAB

National Australia Bank is one of the big four banks who provide a large variety of financial products to the Australian Community. In recent times NAB has set itself apart from the other big four banks; by expanding their ATM network, removing many fees and maintaining low standard variable home loan rates. NAB's changes to its financial products have made their home loan, credit card, loans, savings accounts and personal loans more competitive within the banking industry.

See NAB savings accounts