NAB Reward Saver

0.50% p.a.(for $0 and over)

2.50% p.a. (for $0 and over)

 
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NAB Reward Saver Review

Rates and fees information correct as at 23 September 2018.

Review published: 18 December 2013

What's hot:

  • Special 2.5% p.a rate

  • Unlimited branch, phone and internet transactions

  • Mozo Experts Choice Award Winner 2018

What's not:

  • 0.50% p.a standard rate

Mozo snapshot:

The NAB Reward Saver is a simple savings account with a competitive 2.5% interest rate that is designed to help customers reach their savings goals. It was awarded Mozo Experts Choice Award in the Regular Saver category.  

Key features:

NAB's Reward Saver incentivises saving by offering customers a great 2.5% special interest rate if they deposit at least once a month and make no withdrawals. The breaking of these conditions results in the interest rate reverting to a paltry 0.50% - 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.

Who it's good for:

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

Any catches?

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

How are NAB savings accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.9

Based on 4852
NAB savings accounts reviews

7.4 6.8 7.8 8.0 7.9

Read NAB savings account reviews by the Mozo community

Latest reviews of NAB Reward Saver

NAB

NAB Reward Saver savings account review

Overall rating   8 / 10

Monthly interest rate on deposit

Interest is paid monthly but if you take money out of savings there is no interest that month. We had $47,000 in savings account and took $500 out for holiday. I think we still should have interest for that month on the $46,500 remainder. We will...

Full review

Interest is paid monthly but if you take money out of savings there is no interest that month. We had $47,000 in savings account and took $500 out for holiday. I think we still should have interest for that month on the $46,500 remainder. We will be shopping around for a better interest rate deal.

    Price   8 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   7 / 10

    Trust   9 / 10

Less

Wendy, South Australia, reviewed 3 days ago

NAB

NAB Reward Saver savings account review

Overall rating   10 / 10

Great

Customer service and competitive rates and premium.

Full review

Customer service and competitive rates and premium.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Ian, Queensland, reviewed 6 months ago

NAB

NAB Reward Saver savings account review

Overall rating   10 / 10

Best bank for what I want

10 out of 10.

Full review

10 out of 10.

    Price   9 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Sanchia, Queensland, reviewed 6 months ago

NAB

NAB Reward Saver savings account review

Overall rating   10 / 10

Excellent

I find that NAB have really lifted their game with same time money transfers etc.

Full review

I find that NAB have really lifted their game with same time money transfers etc.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Patrick, Victoria, reviewed 7 months ago

NAB

NAB Reward Saver savings account review

Overall rating   7 / 10

Sweet

NAB is pretty alright, I have no problems with them.

Full review

NAB is pretty alright, I have no problems with them.

    Price   10 / 10

    Features   9 / 10

    Customer service   7 / 10

    Convenience   10 / 10

    Trust   7 / 10

Less

Jonathan, New South Wales, reviewed 7 months 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: 0.50% p.a.

  • Balances from $0: 2.50% p.a.

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

Fees

  • $0.00

  • none

  • unlimited free transactions from branch, internet and phone

  • none

  • none

  • none

  • $0.00

  • $0.00

  • none

  • $0.00

  • $0.00

  • none

Other financial bits

  • $0.00

  • $0.00

  • Monthly

Features

  • no

  • none

  • no

  • no

  • no

  • yes

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • none

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.

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