High interest savings account features

  • A flexible savings account with a competitive interest rate

  • Fixed bonus margin for the first four months on your first NAB iSaver account (balances up to $20m)

  • No monthly account fees and no minimum deposits

  • Unlimited transfers between your linked everyday banking account (without impacting your interest rate)

Ready to roll? Open within 7 minutes…

  • Have a passport, driver’s license or Medicare card handy

  • Must be at least 16 and a permanent Australian resident to apply online

  • Call us on 13 22 65 or visit a branch if you’re under 16 or a non-permanent resident

Okay, let's break it down...

0.11 % p.a.

Standard variable rate

At a minimum, you'll get this rate (subject to change) on your balance, regardless of how many transactions you make.

+
1.59 % p.a.

Fixed bonus margin

You'll get this for the first four months after opening your first NAB iSaver account for balances up to $20 million.

=
1.70 % p.a.

Total introductory rate

This is the total rate you could earn on your first NAB iSaver account on balances up to $20 million.

1.70 % p.a.

Total introductory rate

This is the total rate you could earn on your first NAB iSaver account on balances up to $20 million.

=
1.59 % p.a.

Fixed bonus margin

You'll get this for the first four months after opening your first NAB iSaver account for balances up to $20 million.

+
0.11 % p.a.

Standard variable rate

At a minimum, you'll get this rate (subject to change) on your balance, regardless of how many transactions you make.

  • Monthly account fees

    $0

  • Transaction fees

    $0

Get rolling within 24 hours

  • Step 1

    Apply online now – it takes less than seven minutes.

  • Step 2

    You’ll then get an SMS with your NAB Identification Number (NIN) within 60 seconds.

  • Step 3

    Register for Internet Banking (using your NIN), and you’re ready to start moving money around.

  • Step 4

    Start depositing your savings and working towards your savings goal.

If you have a Commonwealth Seniors Health Card, a Health Care Card, or a Pensioner Concession, and would like more information on our low or no fee products, please visit us in branch or call 13 13 12.

Keep your finger on the pulse with the NAB app


Check your balances on the fly

We’ve done away with having to log in to the NAB app every time you need to check your account balances for iPhone and Android users. They’re now displayed on the login screen so you can view them quickly and easily.

Frequently asked questions

What’s the difference between a NAB iSaver and NAB Reward Saver?

A NAB iSaver offers you a competitive interest rate, while giving you the flexibility to park cash and make unlimited transfers between your linked everyday banking account without affecting your interest rate.

A NAB Reward Saver, on the other hand, rewards you for working towards your savings goals with bonus interest for making at least one deposit before the second last banking day of that month and no withdrawals during that month.

Does my NAB iSaver have to be linked to a NAB transaction account?

Yes, you’ll need to link a NAB transaction account such as a NAB Classic Banking or NAB Retirement Account to access your iSaver account via NAB Internet Banking. If you don’t already have a NAB transaction account, you’ll be able to open one when you apply online.

How do I open an account if I am under 16 years old?

If you aren’t 16 yet you can visit us at any NAB branch.

You’ll need to present 100 points of identification when you open the account, for example, Birth Certificate and Medicare card.

Minors aged 14 and under will require a parent or guardian to be present.

What does Total Introductory Rate mean?

The Total Introductory Rate is made up of two parts: the iSaver Standard Variable Rate and a Fixed Bonus Margin. The Fixed Bonus Margin is a one-time bonus rate that you’ll receive for the first four months of opening your first NAB iSaver account for balances up to $20m.

How many NAB iSaver accounts can I open?

You can open as many as you like. The one thing to mention is that the fixed bonus margin is only available for customers who haven’t held a NAB iSaver in the last 12 months. In other words, you will only get the fixed bonus margin on your first NAB iSaver account, not for any additional NAB iSaver accounts that you open.

Can I transfer directly out of my NAB iSaver account?

No, you can only transfer to your linked NAB transaction account – a NAB Classic Banking account or NAB Retirement Account.

How is my interest calculated and paid?

It’s calculated daily and paid monthly. Just bear in mind that you’ll only get the Fixed Bonus Margin for the first four months after opening your first NAB iSaver on balances up to $20m.

Are there any fees I need to know about?

No, none at all. You can check out the rates and fees for all our products in more detail right here.

What does Fixed Bonus Margin mean?

This Fixed Bonus Margin means that this part of the Total Introductory Rate is fixed for the first four months on balances up to $20m and is available to customers who have not held a NAB iSaver in the last 12 months.

After the first four months, please note that your Total Interest Rate will revert to the Standard Variable Interest Rate.

Can I have a card linked to my NAB iSaver account?

No, you can’t link a card directly to your NAB iSaver account.

However, you can link a card to your NAB transaction account – a NAB Classic Banking account or NAB Retirement Account. You can choose either a NAB Visa Debit card or NAB Platinum Visa Debit card when you apply for your NAB transaction account online.

Given that your NAB iSaver has to be linked to your NAB transaction account, you can simply transfer money to your NAB transaction account first to access it using your card.

Once I apply, do I need to go into a NAB branch at all?

If you’re a new customer, you’ll only need to head into a NAB branch if we can’t match your details through electronic verification or you don’t consent to electronic verification when you apply online. If this is the case, you’ll need to complete a 100-point ID check when you’re at the branch.

If you’re already a NAB customer, you’ll only need to visit a branch to complete a 100-point ID check if you didn’t complete electronic verification or a 100-point ID check when you previously opened a NAB account.

Can I open a joint account online?

If you’re a new customer applying online, the joint applicant will also need be a new customer to NAB.

If you’re an existing NAB customer applying online, there are two important considerations: the joint applicant will need to be an existing customer and you’ll both need to hold an existing joint account with NAB – a NAB home loan, personal loan or credit card, for example.

If you don’t meet either of these requirements, you’ll need to apply together at your nearest NAB branch.

How long will it take for my account to be opened and before I can transfer money into it?

If you complete electronic verification when you apply for your NAB iSaver account online, your account will be opened immediately and you can transfer money from another bank straightaway.

If we can’t match your details through electronic verification when you apply online, your account will still be opened immediately and you can transfer money into it straightaway. However, you won’t be able to withdraw or transfer funds from your account until you visit your nearest NAB branch to complete a 100-point ID check.

What ID do I need to provide when I apply online?

To avoid having to go into a NAB branch, all you need to do is agree to electronic verification of your identity when you apply online and enter the details of either your Australian-issued driver’s licence, Medicare card or passport.

Also, if you provide at least two forms of ID, you’ll have a greater chance of completing electronic verification – by entering the details of both your driver’s licence and Medicare card, for example.

Can I open a NAB iSaver as a joint account?

Yes, you can. In the case of two account holders, for example, the bonus margin will only be received if both customers are eligible. What this means is that, if either yourself or the other account holder has held a NAB iSaver account in the past 12 months, you won’t be eligible to receive the Fixed Bonus Margin.

I'm moving to Australia, can I open a NAB iSaver account?

Yes. If you're moving to Australia you can open a NAB iSaver account before you arrive. You'll need to apply for a NAB Classic Banking account first and add the NAB iSaver as part of your application.

To open your new Australian bank accounts you'll need:

  • your passport number and email address
  • your arrival date and the name of the Australian city you’re arriving into
  • to arrive in Australia within 12 months of opening the account
  • to be at least 16 years of age.

Visit our migrant banking page for more information.

Still have questions?

Call us on 13 22 65

Other options to consider

NAB Reward Saver

Grow your savings faster with bonus interest for regular deposits and no withdrawals.

NAB Term Deposit

Earn competitive interest on your savings over a fixed term that suits you.

NAB Cash Manager Account

Manage your investment cash flow (including SMSF) and earn interest on your balance.

Closing your account

If you’d like to close your account please visit a NAB branch, or call us on 13 22 65 from 9am - 7pm Mon-Fri, 7am - 6pm Sat or 9am - 6pm Sun (AEST/AEDT).

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