NAB Reward Saver account

Up to 0.3% p.a. when you make no withdrawals and make at least one deposit by the second last banking day of the month.

Receive up to 0.3% p.a. when you make no withdrawals and at least one deposit of any amount by the second last day of the month. The NAB Reward Saver is a bonus saver account which means there are terms and conditions to receive the bonus interest on an ongoing basis. A great tip: set up an automatic transfer every month so you don't need to worry about making the deposits. You will also receive a savings graph in your quarterly statement helping you track your progress.

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0.3% p.a.

Maximum variable rate


Base interest rate


Minimum deposit

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Product NameNAB Reward Saver
Maximum Variable Rate0.3% p.a.
Standard Variable Rate0.01%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18

Review by

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This account offers bonus interest of 0.3% each month you make no withdrawals and deposit money throughout the month. There’s no set amount you need to deposit which makes this account quite flexible, however the strict withdrawal restrictions could make it difficult to earn the bonus rate. If you do make a withdrawal or fail to deposit any month in the month, you’ll earn the standard rate of just 0.01%.

In terms of the interest on offer, you can get a much better rate elsewhere while also being able to make withdrawals when you need to.

However, if you’ve got another NAB banking product and want to open a savings account with the same bank to easily track your finances in the one place, this could be a good option. Just make sure you only deposit what you don’t plan to spend, otherwise you’ll earn next to no interest if you do make a withdrawal. If you find yourself regularly dipping into your savings for impulse purchases, the strict withdrawal conditions could actually motivate you to keep your savings in place.

Key features

A variable interest rate of 0.3% p.a. when you make at least one deposit of any amount and make no withdrawals for the month

You can receive a total interest rate of 0.3% if you meet the conditions stated above. Otherwise, you'll earn the variable base rate of 0.01% p.a. This interest rate is variable, which means it can vary as the result of changes in the RBA cash rate or other factors.

Accessible in many ways

You can access your account through your local NAB branch, the NAB app, or through internet banking and telephone banking.

Launch savings account calculator

How to apply

You can apply online and it will take less than 10 minutes. You also don't need to be a current NAB customer to apply online. If you would like to link your Reward Saver to the NAB Classic Banking account, you can choose whether you'd like black or pink Visa debit card.


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

  • At least 18 years old
  • You can apply for either an individual or joint account

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    Default Gravatar
    November 17, 2018

    What day of the month is the interest applied? First? Last?

      Default Gravatar
      November 20, 2018

      Hi Sam,

      Thanks for getting in touch. The NAB Reward Savers account’s interest rate is calculated daily and paid monthly. It’ll be calculated at the total rate if you make at least one deposit before the second last banking day of that month and no withdrawals during that month, or, if you haven’t, you’ll still get your variable base rate.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


    Default Gravatar
    October 22, 2018

    How can I withdraw money from NAB smart reward saver account? Do I have to go to the bank ? What is the daily limit? I tried to transfer money from this account to another bank account, but not allow, why.

      Avatarfinder Customer Care
      October 24, 2018

      Hello Helen,

      Thank you for your comment.

      For your first question and second question, you won’t be able to withdraw or transfer funds from your NAB Reward Saver account until you visit your nearest NAB branch to complete a 100-point ID check. For the third question, the amount which is able to be transferred will be subject to a daily limit set by NAB. For the last question, you may need to get in touch with NAB directly so they can check your account for you.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


    Default Gravatar
    August 24, 2018

    I’m looking to transfer money from a NAB rewards saver account to a NAB personal account. Is this possible as when I’ve previously tried, the message “The account you’ve chosen to pay from can’t be used for this payment” comes up in red writing.

      Avatarfinder Customer Care
      August 24, 2018

      Hello Dylan,

      Thank you for your comment.

      Upon checking, having a NAB transaction account will you allow to quickly and easily transfer your deposit into your NAB Reward Saver each month using NAB Internet Banking or the NAB app. If you will still experience that same error when doing a transfer, best to contact NAB so they can check this for you.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


    Default Gravatar
    March 27, 2018

    If I have a high interest account where I have to deposit monthly & not withdraw to obtain 0.5+2% rate, when can I withdraw some without inuring penalty on all funds in acct? Is there a window where I can make a withdrawal, say first 3 days of the month (or similar)?

      Avatarfinder Customer Care
      March 27, 2018

      Hi Dom,

      Thanks for your question.

      If your account with NAB is the NAB Reward Saver, you will not be charged with fees when making withdrawals. However, you will only earn the standard variable rate of 0.50% p.a. In order for you to receive the high bonus interest rate on your account, you may be required by the bank not to make any withdrawals for an extended period of time or you will be penalised for doing so. Most of the online savings accounts work this way.


    Default Gravatar
    February 18, 2018

    Does this account have a maximum amount that can be held in the account?

      Avatarfinder Customer Care
      March 7, 2018

      Hi Verity, thanks for your inquiry.

      The minimum opening deposit is $0, thus you can have this account with $0.



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