Everything seems to come with an 'i' these days: iPad, iCloud... now there's the NAB iSaver. As the name suggests the NAB iSaver is made for your personal savings, offering a 0.35% intro rate, clear of bank fees, transaction fees and balance requirements.
The NAB iSaver has a 0.35% intro rate available for the first four months, which smoothly transitions to an ongoing standard bonus interest rate of 0.30% and a standard variable rate of 0.05%. Unlike other bonus interest savings accounts, you can make unlimited deposits or withdrawals on the iSaver and your interest rate won't be affected. There are no minimum or opening balance requirements and all interest is calculated daily and paid monthly on every $1.
There is a $20 million cap on the bonus rate but you'll still get the 0.05% standard variable interest rate for balances over $20 million.
Savers who want a flexible savings account that has a good interest rate and no fees. You'll need to have an eligible NAB everyday transaction account to open an iSaver.
You can only transfer funds in and out of the savings account through the linked NAB transaction account. And the bonus 0.35% intro rate is only available to a customer's first NAB iSaver account.
Balances from $0: 0.05% p.a.
Balances from $0: 0.35% p.a.
Balances from $20,000,000: 0.05% p.a.
Bonus rate for the first 4 months from account opening. Introductory rate only applied to a customers first NAB iSaver account.
$0.00
n/a
unlimited free transactions from phone and internet
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
n/a
$1.00
$0.00
Monthly
no
none
no
no
no
no
no
yes
yes
no
no
Must link to an eligible NAB everyday account.
none
none
Bank is just about good at everything
Read full reviewBank is just about good at everything
The iSaver Savings account is simple and fast to set up if you already have an account with NAB. Pre-COVID 19 the iSaver had great interest rates, better than any of the term deposits I investigated from several different banks. The flexibility of transferring in and out of the iSaver made it a great place to store most of my money for a short time while never feeling locked off from my funds. Closing the account did require calling the bank, but you get to talk with knowledgeable friendly staff without much waiting, and they can see any lagging funds/interest that hasn't shown up in the online banking portal and directly transfer it wherever you need.
Read full reviewThe iSaver Savings account is simple and fast to set up if you already have an account with NAB. Pre-COVID 19 the iSaver had great interest rates, better than any of the term deposits I investigated from several different banks. The flexibility of transferring in and out of the iSaver made it a great place to store most of my money for a short time while never feeling locked off from my funds. Closing the account did require calling the bank, but you get to talk with knowledgeable friendly staff without much waiting, and they can see any lagging funds/interest that hasn't shown up in the online banking portal and directly transfer it wherever you need.
My bank has good products and offers. You can do all your banking over the phone and the call centre is open late for convenience when you're working.
Read full reviewMy bank has good products and offers. You can do all your banking over the phone and the call centre is open late for convenience when you're working.
Been with NAB for years and never had a problem. Products are solid, customer service is great. Been a great bank on many levels.
Read full reviewBeen with NAB for years and never had a problem. Products are solid, customer service is great. Been a great bank on many levels.
Very low interest, hardly worth it.
Read full reviewVery low interest, hardly worth it.
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.
MyState Bank
Bonus Saver Account
1.20% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Boost Saver with Go Account
1.20% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Serious Saver
0.30% p.a. (for $0 to $1,000,000)
0.15% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
Bankwest
Hero Saver
0.70% p.a. (for $0 to $250,001)
0.01% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Flexi Saver
0.25% p.a. (for $0 to $5,000,000)
0.05% p.a.(for $0 to $5,000,000)
Yes up to $250,000
MyState Bank
Bonus Saver Account
1.20% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Boost Saver with Go Account
1.20% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Serious Saver
0.30% p.a. (for $0 to $1,000,000)
0.15% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
Bankwest
Hero Saver
0.70% p.a. (for $0 to $250,001)
0.01% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Flexi Saver
0.25% p.a. (for $0 to $5,000,000)
0.05% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Bankwest
Hero Saver
0.01% p.a.(for $0 to $5,000,000)
0.70% p.a. (for $0 to $250,001)
Yes up to $250,000
ANZ
Progress Saver
0.01% p.a.(for $0 and over)
0.35% p.a. (for $0 and over)
Yes up to $250,000
Newcastle Permanent
Smart Saver
0% p.a.(for $0 and over)
1.40% p.a. (for $0 and over)
Yes up to $250,000
Auswide Bank
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
1.51% p.a. (for $0 and over)
Yes up to $250,000