IMB Reward Saver Account

IMB Reward Saver Account

Maximum Variable Rate


Standard Variable Rate


Earn a competitive introductory bonus rate of 2.00% for 4 months to help give your savings a boost.

  • No monthly fees
  • Earn bonus interest, and a bonus introductory rate on top of that
  • Access your money at ATMs, at branches, online or using phone or mobile banking

Product details

There are better ways to save than putting money in a jar. This account lets you earn bonus interest to meet your goals faster, with easy requirements that to meet. Earn up to 2.00% p.a. on balances of $5000 or more with the IMB Reward Saver Account by depositing at least $50 a month, and not making withdrawals.


There's no minimum deposit for this account, however the introductory bonus rate is only offered on balances of $5,000 or more. If you've got less than this, you'll earn the standard bonus rate of 0.90% when the monthly deposit condition is met.

Product Name
IMB Reward Saver Account
Maximum Variable Rate
2.00% p.a.
Standard Variable Rate
0.90% p.a.
Bonus Variable Rate
1.10% p.a.
Introductory / Bonus Offer Conditions
To earn bonus interest of 1.10% p.a. you must make a minimum $50 deposit and no withdrawals per month. Introductory rates will be forfeited if bonus interest criteria are not met for the calendar month.
Monthly Fee
Minimum Opening Deposit
Minimum monthly deposit for bonus interest rate
Introductory Interest Period
4 month(s)
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Joint application?
Minimum Age Requirement
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the IMB Reward Saver Account features?

This reward savings account gives you a real incentive to let your savings to grow. Compare this account with other options to find one with terms that work for you.

Up to 2.00% p.a. for the first 4 months

The introductory rate delivers an additional 1.10% p.a. for the first 4 months, for accounts opened after 1 November 2019 with a total balance of $5,000 or more. This brings your total rate to 2.00% p.a. You'll still need to meet the other bonus interest requirements to earn it, however.

0.90% variable bonus rate

After the introductory period, you'll earn $50 each month that you deposit at least 50 into the account and make no withdrawals.

$0 account keeping fees

There are no monthly fees to drain your savings.

Access your account 24/7

You are able to access your savings and make deposits using any of the following; ATM, BPAY, in branch, CashCard, cheque, direct debit, EFTPOS, online or over the phone. You can keep any eye on your balance with the IMB mobile banking app, however keep in mind that if you make any withdrawals you won't earn the bonus interest that month.

How much do I earn if I don't meet the requirements?

There is no base rate for the IMB Reward Saver Account, so in order to earn any interest you'll need to meet the deposit requirements each month, and avoid making withdrawals.

How often is my interest paid?

The interest for the account is calculated daily and will be paid into the account once a month.

SMS alerts

You can activate a feature where you are alerted with an SMS message when certain activities are detected with your account. There is a $0.25 charge for each message sent to your mobile phone.

Mobile banking

You can check the status of your account and make transfers anytime using the IMB app on your mobile phone. The app is available for iPhone and android devices.

For personal use only

This account is for individuals only, to be used for personal saving purposes. Customise your account by giving it a name of your choice, like "holiday savings" to help keep your saving on track.

Launch savings calculator


  • No monthly account keeping fee
  • Can set up automatic transfers to easily meet deposit requirements


  • Bonus interest only awarded if you meet conditions
  • Tiered interest rate system

How do I apply for the IMB Reward Saver Account?

You are not required to be a member of IMB before applying for the Reward Saver Account, but in ten minutes can have both the membership and bank account application completed.

Check beforehand to make sure that you are eligible

  • Minimum age. You must be at least 13 years of age in order to open this account.
  • Residency requirements. Only Australian residents with an Australian residential address in Victoria, Queensland, South Australia or The Australian Capital Territory are able to apply.
  • Depository requirements. You only need an opening deposit amount of one dollar to have the account activated. The $5,000 balance requirement is only for the introductory rate, and you'll still earn interest with less/

Documentation for your online application

Having the following documentation next to you will also make it easier as you begin to fill out the online application:

  • Tax file number. Although you are not obligated to offer your tax file number (TFN) or exemption codes, it will allow IMB to deduct the correct withholding tax from your interest earnings.
  • Identification. The information found on your Australian passport, driver’s licence or Medicare card will allow IMB to verify your identity. Even after the account has been activated, you will not be permitted in branch or cheque transactions until you have completed a face to face identity verification.

What happens after I submit the online application?

After having submitted your application you will receive notice of its status, and any additional information required before the account can be opened. Once it has been opened, start making your savings deposits so that you can qualify for the introductory bonus interest before it runs out.

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2 Responses

  1. Default Gravatar
    ReneeMarch 3, 2016

    No joint application? Does this mean a/c can only be held in 1 (one) persons name not a Mr and Mrs. Please confirm…tks

    • Avatarfinder Customer Care
      ShirleyMarch 7, 2016Staff

      Hi Renee,

      Thanks for your question.

      This is an error on our end, apologies for the inconvenience. The IMB Reward Saver is available for joint applications.

      Hope this helps.

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