Features of NAB Reward Saver

Bonus interest to help boost your savings

An account to help motivate you with your saving goals. Receive the variable bonus rate when you make at least one deposit on or before the second last banking day of the month and do not make any withdrawals during the month.

No monthly account and transaction fees

With $0 monthly account service fee and no minimum balance, all your savings get put to good use.

A base interest rate with the flexibility to withdraw

Make withdrawals and still receive the base interest rate.

Interest rates

Variable base rate

0.35 % p.a.

At a minimum, you'll get this rate (subject to change).

Variable bonus rate

4.65 % p.a.

We’ll add this bonus rate if you make at least one deposit on or before the second last banking day of the month and no withdrawals during the month.

Total interest rate

5.00 % p.a.

If you save each month and make no withdrawals, this is the total rate (variable base rate + variable bonus rate) you’ll get.

NAB Reward Saver has a tiered interest structure, which means you may receive a different rate for your entire balance depending on the tier your balance falls within. These interest rates are for balances up to $49,999. View our indicator rates for deposit products for full details of tiers and rates.

Open an online savings account in the NAB app

If you’re an existing customer, applying in the NAB app is easy.

  1. Log into the NAB app.

  2. Tap More.

  3. Select New account.

  4. Select 'Savings accounts'.

What you’ll need to apply

Here's what you need to know about applying and eligibility. If you’re a NAB customer, have your NAB IDYour NAB ID is an 8 to 10 digit number given to you when you first become a NAB customer.  There are three ways to find your NAB ID: 1. We send it to you via email and SMS when you first become a customer. 2. On the back of your credit card or debit card, above the magnetic strip. Not all cards have this. 3. In the NAB app once you've registered for internet banking. Your NAB ID can be found under More and then My Details. This option is only available for personal profiles (not business ones). and password ready.

Identify yourself

If you’re a new customer, we’ll need either:

  • your passport

  • your driver's licence

  • your Medicare card

Check your eligibility

You must be both:

  • 14 years of age or older

  • an Australian resident for tax purposes

Not eligible to apply online?

If you’re unable to apply for this product online, visit a branch and a banker will help you.

Ready to apply?

If you've checked you're eligible to apply and have all your documents ready, let's get started.

Help and support

Guides and support services to help you manage your banking.

Other ways we can help

Use our help guides, FAQs and other support services to help you manage your banking more easily.

Set and track your savings goals

Create multiple savings goals with My Goals in the NAB app so you can save for anything from a new home to a weekend away. Just set a target, name your goal and pick a date. My Goals will work out the rest.

Other account options to consider

If you would also like to open a transaction account, you can apply for one within your NAB Reward Saver application.

Get in touch

Visit a NAB branch

Visit your nearest NAB branch to speak to us in person.

Important Information

Any advice has been prepared without considering your objectives, financial situation or needs. Before acting on any advice, you should consider whether it is appropriate for your circumstances and view the Personal Transaction and Savings Products Terms and Conditions (PDF, 627KB), opens in new window. Target Market Determinations for these products are available at nab.com.au/TMD. NAB products issued by NAB.

See our personal banking fees and charges and indicator rates for deposit products.

Closing your account

The quickest and easiest way to close your account is through NAB Messaging in Internet Banking or the NAB app.

If you need further support, please find your closest branch or give us a call on 13 22 65 or +61 3 8641 9083 if you’re overseas.