NAB iSaver

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.

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.

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.

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

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.

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.

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 an identity check when you’re at the branch.

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

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 an identity check.

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.

To close a savings account, you can:

• Call us at 13 22 65.
• Visit us at a branch.
• Speak with a live chat banker (go to Transaction History in NAB Internet Banking).

If you have a joint account, you may need to visit a branch together, depending on the way the account was set up. You can check the account authority through one of the above options before going into the branch.

The Total Introductory Rate is made up of 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. It's available to customers who have not held a NAB iSaver in the last 12 months.

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

Yes, you can. Keep in mind that the bonus margin will only be received if both customers are eligible. This means 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.

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 (e.g. a NAB home loan, personal loan or credit card). If you don’t meet either of these requirements, you’ll need to apply together at your nearest NAB branch.