Up to 2.55% with a NAB Reward Saver: Rates & Information

Receive up to 2.55% p.a. when you make at least one deposit of any amount and no withdrawals for 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.

If you miss a monthly deposit or have to make a withdrawal for a month, don't worry, you can still earn bonus interest for the next month.

NAB Reward Saver provides you with a number of features and benefits that are worth considering when looking for a savings account.

A variable, competitive interest rate of 2.55% 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 2.55% if you meet the conditions stated above. Otherwise, you'll earn the variable base rate of 0.50% p.a. This interest rate is variable which means it could change alongside the RBA Cash Rate.


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

Can only be linked with a NAB Classic Banking transaction account

If you would like to open this account, you will also need to open a NAB Classic Banking transaction account to easily transfer money between accounts. There are $0 account keeping fees associated with the NAB Classic Banking account. You can view more NAB banking products.

$0 Opening minimum amount

There is no minimum balance or required ongoing balance.

Quarterly statements

You'll get quarterly statements that come with a graph to show you how you're going.

$0 Account keeping fees

There are no monthly account or transaction fees associated with the NAB Reward Saver. Though you are discouraged from making withdrawals as it will make you ineligible for the bonus interest for that month.

Be safe online

NAB will never email you requesting personal information, if this happens, report the email to NAB immediately.

Peace of mind

Your details are safe with encryption protection.

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  • Online savings with $0 monthly account fees
  • You can receive 2.55% p.a. maximum interest rate.


  • In order to receive bonus interest rate on you Reward Saver account, you have to make at least one deposit and no withdrawals in the month.

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.

Eligibility to apply online

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

Documentation for your online application

  • If you're an existing NAB customer, have your NAB ID ready
  • It's recommended that you provide your Tax File Number (TFN) though this isn't essential. Lodging your TFN will ensure that

    you're not taxed the highest marginal tax rate.

What happens after I submit my application online?

You'll receive a confirmation message and email to confirm your application was successful. A Welcome Pack will be sent to in the mail with the next steps. If you're not an existing NAB customer, you'll need to complete a 100 point identification check before you can access an account. This can be done at your local NAB branch or Bank@Post.

With the NAB Reward Saver, you’ll earn the maximum variable interest (including the bonus interest of 2.05% p.a.) when you make at least one deposit and no withdrawals in the calendar month. There is no required amount for the deposit. If you don’t make a deposit or if you need to make a withdrawal in a given month, you’ll still earn the standard variable rate for that month.

The maximum amount you can have in the account is $1 million, at which point the interest rate would then revert back to the base rate which is currently 0.50% p.a.. Please note that NAB interest rates are subject to variation.

There’s no limit to the amount of NAB Reward Saver accounts you can open, so effectively you can open as many as you like.

You can set up periodic transfers from your NAB Classic Banking account (daily, weekly, fortnightly or monthly) into your Reward Saver account.

It could be that you didn’t provide enough ID, or NAB requires some more information about you regarding the application.

On the NAB website it states that you can “earn bonus interest on your NAB Reward Saver account when you make at least one deposit and no withdrawals in the month. Don’t worry, if you miss a monthly deposit or if you need to make a withdrawal, you will still earn a variable base interest rate that will help keep your savings ticking over.” Generally you do need to maintain the account for the full calendar month to receive the Maximum Variable Rate.

If this error keeps on happening, please contact the customer service team at NAB and they should be able to sort this out for you.

There’s no maximum amount for the bonus rate to apply. The Government Guarantee is a completely separate entity, please read this article for more information about the Government Guarantee.

This account has no minimum deposit amount to earn the bonus interest rate, which is added to the standard variable rate shown in the table above to give the maximum variable rate. This rate is an ongoing rate as long as you make no withdrawals and at least one deposit per month.

This account will only earn the ‘standard variable rate’ shown in the table above if you make a withdrawal in a month or don’t make at least one deposit in that same month. There are a number of accounts on this page which allow you to earn bonus interest if you make regular deposits with no withdrawals.

Category: Savings account

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