NAB logo

NAB Reward Saver

Advertiser disclosure
Interest rate
0.35% p.a.(for $1 and over)
Maximum rate
5.00% p.a. (for $1 and over)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review NAB Reward Saver - last updated: 17 November 2023

binocular icon
What's hot
  • 5.00% p.a. maximum rate available
  • Unlimited branch, phone and internet transactions
  • Joint accounts available
What's not
  • 0.35% p.a. standard rate
Mozo snapshot

The NAB Reward Saver is a simple savings account with a 5.00% interest rate designed to help customers reach their savings goals if they stay savvy with their saving, along 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 5.00% p.a. total 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 0.35% p.a. - 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. You are also able to utilise joint accounts.

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 - especially if you know you can stick to those savings conditions!

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Any catches

Make sure you stick to the strict deposit and withdrawal conditions to keep that 5.00% p.a. total rate, or you'll be hit with the lower 0.35% p.a. standard rate. 

Details

Rates and fees information correct as at 21 February 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 $1: 0.35% p.a.

Balances from $1: 5.00% 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 calculates 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

n/a

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
Price
Features
Customer service
Convenience
Trust

Latest reviews of NAB Reward Saver Savings Account

About NAB

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IMB Bank

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5.25% p.a. (for $0 to $1,000,000)

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

Yes up to $250,000

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High Interest Savings Account

5.75% p.a. (for $0 to $250,001)

4.40% p.a.(for $0 to $250,001)

Yes up to $250,000

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Bankwest

Hero Saver

4.60% p.a. (for $0 to $250,001)

1.00% p.a.(for $0 to $5,000,001)

Yes up to $250,000

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Bendigo Bank

Reward Saver

5.25% p.a. (for $0 to $100,000)

0.30% p.a.(for $0 and over)

Yes up to $250,000

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ubank

Save Account

5.10% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

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MyState Bank

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

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Up

Saver Account

4.35% p.a. (for $0 to $1,000,000)

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

Yes up to $250,000

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Macquarie

Savings Account

5.50% p.a. (for $0 to $250,000)

4.75% p.a.(for $0 to $1,000,000)

Yes up to $250,000

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IMB Bank

Reward Saver Account

5.25% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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

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Rabobank

High Interest Savings Account

5.75% p.a. (for $0 to $250,001)

Yes up to $250,000

4.40% p.a.(for $0 to $250,001)

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Bankwest

Hero Saver

4.60% p.a. (for $0 to $250,001)

Yes up to $250,000

1.00% p.a.(for $0 to $5,000,001)

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Bendigo Bank

Reward Saver

5.25% p.a. (for $0 to $100,000)

Yes up to $250,000

0.30% p.a.(for $0 and over)

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ubank

Save Account

5.10% p.a. (for $0 to $250,000)

Yes up to $250,000

0.10% p.a.(for $0 and over)

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MyState Bank

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)

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Up

Saver Account

4.35% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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

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Macquarie

Savings Account

5.50% p.a. (for $0 to $250,000)

Yes up to $250,000

4.75% p.a.(for $0 to $1,000,000)

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IMB Bank

Reward Saver Account

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

5.25% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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Bendigo Bank

Reward Saver

0.30% p.a.(for $0 and over)

5.25% p.a. (for $0 to $100,000)

Yes up to $250,000

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ubank

Save Account

0.10% p.a.(for $0 and over)

5.10% p.a. (for $0 to $250,000)

Yes up to $250,000

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MyState Bank

Bonus Saver Account

0.05% p.a.(for $0 and over)

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

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Up

Saver Account

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

4.35% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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Auswide Bank

Ziggy Kids Saver

0.01% p.a.(for $0 and over)

3.01% p.a. (for $0 and over)

Yes up to $250,000

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UniBank

Mighty Saver Account

0.10% p.a.(for $0 and over)

1.20% p.a. (for $0 and over)

Yes up to $250,000

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Teachers Mutual Bank

Mighty Saver Account

0.10% p.a.(for $0 and over)

1.20% p.a. (for $0 and over)

Yes up to $250,000

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