In this guide

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

NAB Reward Saver account

  • Alison Banney's headshot
NAB Reward Saver

This product is not currently available via Finder. Visit the provider's website directly, or compare other options.

Compare other options
Maximum variable rate
5.00% p.a.
Base interest rate
0.35%p.a.
Minimum deposit
$1

Our verdict

Earn up to 5.00% p.a. when you make no withdrawals and at least 1 deposit by the second last banking day of the month.

This account offers a variable bonus interest rate of 5.00% p.a. each month you make no withdrawals and at least 1 deposit throughout the month. There’s no set amount you need to deposit, so this condition should be easy to meet.

If you do make a withdrawal or fail to deposit any month in the month, you’ll earn the standard rate of just 0.35% p.a. So make sure you only deposit what you don’t plan to spend.

Pros

  • Earn up to 5.00% p.a. on your entire balance, with no balance cap
  • $0 monthly account fees
  • Make 1 deposit of any amount during the month to earn bonus interest
  • Track your savings goals in the NAB app

Cons

  • To earn bonus interest, you can't make any withdrawals

In this guide

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

Details

Key details

Product Name NAB Reward Saver
Maximum Variable Rate 5.00% p.a.
Standard Variable Rate 0.35% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 14

Key features

Earn a total variable interest rate of 5.00% p.a.

You can earn a total variable interest rate of 5.00% p.a. each month you make no withdrawals and at least 1 deposit of any amount. This rate is made up of a 0.35% standard variable rate and a 4.65% variable bonus rate.

You need to make your deposit by the second last banking day of the month, which is any day that's not a weekend or public holiday, in order to be eligible for bonus interest.

If you don't meet the conditions one month you'll earn the variable base rate of 0.35% p.a. on the money in the account for the month.

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

Accessible in many ways

You can access your account through your local NAB branch, the NAB app, or online through Internet banking.


How to apply

You can apply online or in the NAB app in less than 5 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 - 13 of 185
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
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
Ideal for higher balances, savers can earn up to 5.4% for the first 4 months and up to 4.7% thereafter. There are no conditions and $0 account-keeping fees.
Rabobank High Interest Savings Account
Rabobank logo
Maximum Variable Rate p.a.
5.60%
Standard Variable Rate p.a.
4.35%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Ubank High Interest Save Account
Ubank logo
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
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
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
Macquarie Bank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
5.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Suncorp Bank Growth Saver Account
Suncorp Bank logo
Maximum Variable Rate p.a.
5.05%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance by $200 each month (excl. interest)
  • Only 1 withdrawal
  • No balance limit on earning interest
Go to siteView details
Bank of Queensland Simple Saver Account
BOQ logo
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Newcastle Permanent Smart Saver Account
Newcastle Permanent logo
Maximum Variable Rate p.a.
4.50%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance
  • No more than 2 withdrawals
Go to siteView details
ING Savings Maximiser
ING logo
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
IMB Reward Saver Account
IMB logo
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
Earn up to 3.25% p.a. after the introductory period ends.
Bankwest Easy Saver
Bankwest logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000.99
Go to siteView details
Rabobank PremiumSaver
Rabobank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.45%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance by $200+ each month
  • Balances up to $250,000
Go to siteView details
Bendigo Bank EasySaver Account
Bendigo Bank logo
Maximum Variable Rate p.a.
3.70%
Standard Variable Rate p.a.
3.70%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
loading
Showing 13 of 13 results

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Alison Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Avatar

Fay Berriman

April 01, 2024

If from my Reward Saver i make a withdrawal at the beginning of the month (ie after the previous months interest has gone in) Do I lose the entire interest for the month I made withdrawal

Thankyou


Avatar

Sarah Megginson Finder

June 10, 2024

Hi Fay,


Yes that’s correct; you’ll earn next to no interest that month if you do make a withdrawal.


You can review a number of different account options that offer bonus interest without a withdrawal penalty.


Hope this helps!


Show more Show less
Avatar

John

August 08, 2023

I am a NAB customer holding different types of accounts and products with them. I’ve been living overseas the last few years, and want to open a reward saver account so i can transfer savings from my existing classic account. I’m not sure why i need to be an Australian resident to apply, when I still have all these existing NAB accounts open. Even if i did earn interest on the account, I would still declare this through my AUS annual tax return, so i find it difficult to understand why i can’t open the account while i’m living abroad.


Show more Show less
Avatar

joseph.delaney@bigpond.com

June 08, 2023

to get 4.5% the max amount to deposit $49.999. what if I got $200.000 to deposit. How would I do that.


Avatar

Alison Banney Finder

June 22, 2023

Hi Joseph, different rates apply to different balances. Currently this account has a variable interest rate of 4.75% p.a. for balances between $50,000 and $250,000.


Avatar

Victor

March 10, 2023

What I about if I am from other country is it possible for me to invest?


Avatar

Alison Banney Finder

March 13, 2023

Hi Victor,

You need to be an Australian resident with an Australian residential address to open this account.

Thanks,

Alison


Avatar

John

March 10, 2023

What is the maximum amount that can be deposited into the account? And is the money at call at any time?


Avatar

Raj Lal Finder

March 22, 2023

Hi John,

The maximum amount you can deposit into the NAB Reward Saver Account is $49,999. The account does have conditions to meet for you to earn the bonus interest including making no withdrawals each month and at least 1 deposit throughout the month.


Thanks

Raj


Go to site