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)

Open your account within seven minutes

  • Have a passport, driver’s licence 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

Interest rates and fees

0.05 % 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.

+
0.90 % 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.

=
0.95 % 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.

0.95 % 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.

=
0.90 % 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.

+
0.05 % 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 started 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, to open a new NAB Classic Banking account or NAB Retirement Account, 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 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.

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.

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.

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.

How do I close my savings account?

To close a savings account, you can:

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.

What does Total Introductory Rate and Fixed Bonus Margin mean?

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.

Can I open a NAB iSaver online or as a joint account?

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.

Still have questions?

Call us on 13 22 65

Other options to consider

Woman using phone

NAB Reward Saver

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

father and son

NAB Term Deposit

Enjoy the certainty of fixed returns on your savings, no fees and the flexibility to choose a term that suits your needs.

Man in garden

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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