In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
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NAB iSaver Account Review

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NAB iSaver

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Maximum variable rate
5.00% p.a.
Base interest rate
2%p.a.

Our verdict

Earn 5% p.a. for 4 months with this flexible savings account from NAB.

This account offers a variable rate of 5% p.a. for the first 4 months for balances up to $20,000,000. The good thing about this account is that there are no deposit conditions to meet to earn interest, and you can make withdrawals at any time while still earning interest.

However, after the introductory period ends your interest rate will revert to the standard variable rate of 2% p.a.. This rate is a lot lower than other bonus savings accounts in the market right now, however there are no conditions to meet which might suit you well if you don't want to commit to a monthly deposit.

Pros

  • 5.00% p.a. for 4 months
  • No deposit conditions or withdrawal restrictions
  • $0 account keeping fees
  • Earn bonus interest on large balances up to $20,000,000

Cons

  • Interest rate drops to 2% after the intro period
  • Must link to an NAB everyday account
  • Interest rate is lower than other savings accounts in the market

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

This account offers a variable bonus interest rate of 5% p.a. for the first 4 months after opening the account, with no deposit conditions to meet. You can also make as many withdrawals from the account as needed while still earning interest.

After the introductory period you’ll earn an ongoing variable rate of 2% p.a. with no conditions to meet.

Details

Key details

Product Name NAB iSaver
Maximum Variable Rate 5.00% p.a.
Standard Variable Rate 2.00% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 14

Key features

Earn up to 5% p.a. for 4 months

This account offers an introductory variable bonus rate of up to 5% p.a. for the first 4 months after opening the account. After this period you'll earn the standard variable interest rate of 2% p.a. on your account balance. There are no deposit conditions to meet, and you can make withdrawals while still being eligible for interest.

The interest rate is variable, meaning it can change at any time.

No monthly fees

With NAB's iSaver you pay no monthly account keeping or maintenance fees.

Unlimited free transactions

Move funds in and out of the account as needed, without incurring fees, and keep earning interest on your balance.


How to apply

You can apply online or in the NAB app in less than 10 minutes. You also don't need to be a current NAB customer to apply online.

Eligibility to apply online

Before you start, check if you're eligible to apply online.

  • At least 14 years old
  • You're an Australian resident for tax purposes
  • You can apply for either an individual or joint account

Compare other savings accounts

1 - 11 of 188
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Rabobank High Interest Savings Account
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.40%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Ubank High Interest Save Account
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
Bank of Queensland Simple Saver Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.85%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
Eligible customers can receive $50 cashback when they open an Orange Everyday and a Savings Maximiser account together before 31st July 2024. Customers must make 5 settled transactions and keep the accounts active for 60 days from opening.
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
  • Balances up to $100,000
Go to siteView details
First Option Bank Savings+Bonus Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
2.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $100
  • No withdrawals
  • Balances up to $249,999
Go to siteView details
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
BCU Bonus Saver
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
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Alison Finder

Editor

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Avatar

Karen

July 15, 2024

can the proceeds of a house sale be deposited via Pexa into an isaver account .


Avatar

Sarah Megginson Finder

July 16, 2024

Hi Karen,


We checked with NAB, and unfortunately this isn’t possible. The NAB iSaver needs to be linked to an eligible NAB transaction account. The only way to transfer funds in or out of the NAB iSaver is through your linked account. So, you could have the funds deposited into your linked transaction account, and then immediately transfer them to your iSaver on settlement day.


Hope this helps!


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Dianne

December 28, 2023

I have a nab account already. If I open an isaver account will I receive the high interest rate for 4 months?


Avatar

Sarah Megginson Finder

January 05, 2024

Hi Dianne, yes you can open an account and get the bonus interest rate. As an existing customer, you should be able to open the account online through your internet banking profile.


Hope this helps!


Avatar

Gus

March 18, 2023

I took up NAB 4% introductory offer and expected no fees on withdrawals as advertised. This is not true. If I want to move money, I have to move it into the current account and then if the transfer is more than $30,000 I have to pay a $35 fee. How is this free? Was I misinformed by NAB staff?


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Avatar

Alison Banney Finder

March 20, 2023

Hi Gus,

According to NAB’s site and the PSD document there shouldn’t be a fee for making an internal transfer. However, if it’s an international transfer a fee may be charged.

We suggest you get in touch with NAB directly to clarify why this fee would be charged.

Thanks,

Alison


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David

November 22, 2022

We have just less than $1m from the recent sale of our house but expect to use a large proportion of that witching six months on the purchase of a new house. If we deposit this in a NAB iSaved account, will be receive 3.5% or thereabouts regardless of when we complete a major redraw?


Avatar

Alison Banney Finder

December 02, 2022

Hi David,


This account currently offers 3.5% p.a. for the first 4 months after opening the account. There are no conditions to meet to earn this (except you need to be a new customer). You can make withdrawals at any time and still earn this rate for the first 4 months.


Thanks,

Alison


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Avatar

John

April 04, 2019

Can you advise the cost of transfer of transferring say $50,000.00 to a Singapore bank account with another bank from a NAB savings account.


Can you advise how much for an internet transfer and an over the counter transfer of $50,000.00?


Avatar

Jeni Finder

April 05, 2019

Hi John,


Thank you for getting in touch with Finder.


For this large sum money transfer, it is best that you contact NAB directly for a more accurate info on this matter.


I hope this helps.


Thank you and have a wonderful day!


Cheers,

Jeni


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