National Australia Bank's total customer deposits grew by 7.4% in its 2025 financial year, with the bank reporting its personal banking division had a "very strong year".
NAB's savings account interest rates aren't the highest on the market, but the bank's results show many Australians are still more comfortable putting their money with one of the big four banks. In fact, together the big four hold more than 70% of all household deposits.
Let's check what deposit products NAB has on offer:
NAB Savings Accounts & Interest Rates
| Bank | Savings Account | Base Interest Rate | Max Interest Rate | Total Interest Earned | Introductory Term | Minimum Amount | Maximum Amount | Linked Account Required | Minimum Monthly Deposit | Minimum Opening Deposit | Account Keeping Fee | ATM Access | Joint Application | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1.65% p.a. | 5.25% p.a. Intro rate for 4 months then 1.65% p.a. | $573 | 4 months | $0 | $99,999,999 | $0 | $0 | $0 | |||||||||||
0.01% p.a. Bonus rate of 4.99% Rate varies on savings amount. | 5.00% p.a. | $1,023 | – | $0 | $99,999,999 | $1 | $0 | $0 | |||||||||||
2.20% p.a. | 2.20% p.a. | $444 | – | $250,000 | $99,999,999 | $0 | $0 | $0 | |||||||||||
0.50% p.a. | 0.50% p.a. | $100 | – | $0 | $99,999,999 | $0 | $5,000 | $0 | |||||||||||
2.25% p.a. Bonus rate of 3.15% Rate varies on savings amount. | 6.00% p.a. Intro rate for 4 months then 5.40% p.a. | $1,134 | 4 months | $0 | $499,999 | $0 | $0 | $0 | Promoted | Disclosure |
Here's a closer look at its savings products for general use, available at NAB at the time of writing.
Reward Saver
NAB's Reward Saver offers the bank's highest variable interest rate, made up of a negligible base rate and a bonus rate.
See also: The different types of savings account interest rates
The Reward Saver account pays monthly bonus interest when account holders:
make at least one deposit on or before the second last banking day of the month
do not make any withdrawals during the month
This makes Reward Saver an option for those with longer-term saving goals such as putting money aside for a holiday, wedding, or home loan deposit.
That said, there are savings accounts on the market offering better interest rates without withdrawal restrictions. Like many big bank savings products, NAB's Reward Saver attracts no monthly account-keeping fees.
iSaver
NAB's iSaver is an online savings account linked to an NAB transaction account. It pays an eye-catching introductory interest rate for the first four months to eligible customers before reverting to a far more modest standard variable rate. The iSaver account is also not subject to monthly account fees.
Term deposits
NAB offers an array of term deposit products on terms from 30 days to five years. Fixed interest rates are calculated daily and paid at maturity for terms up to 12 months. Alternatively, customers can choose to be paid their interest monthly, quarterly, half-yearly, or annually for terms over 12 months. These options generally come with lower interest rates.
Advertised term deposit rates are for amounts from $5,000 to $1,999,999. For amounts $2 million or over, customers should contact the bank. Like most of the big four banks, NAB's term deposit interest rates are relatively low compared to other smaller deposit-takers on the market.
What makes NAB's savings account different?
No fees
There are no account-keeping fees attached to any NAB savings accounts.
NAB app
While NAB's mobile banking app doesn't rank as highly for personalised "user experience" features as those of the bigger banks, namely CommBank and Westpac, it offers a strong, secure platform backed by big bank infrastructure.
It covers the bases of payments, transfers, card control, and identifying purchases. For those looking for next level features such as money management and proactive budgeting tools, there are better-rated apps on the market.
Spaces feature
The Spaces feature within the NAB app allows savings customers to create virtual savings jars linked to Reward Saver and iSaver accounts to help achieve their financial goals. Customers can create up to 30 Spaces linked to one savings account, with the ability to tip funds between them and set savings goals.
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NAB Savings Accounts: Expert Review
"Banking stalwart NAB has, like other major banks, two key savings account products: an intro-rate and a bonus savings account.
The intro-rate product is called the iSaver and offers a higher interest rate for four months, after which a much lower rate applies.
The bonus savings account is called the Reward Saver and offers moderately competitive rates provided you jump through a couple of hoops.
This is pretty standard among the big banks, and while the rates aren't bad, you can do better if you shop around.
NAB's app is mostly pretty drama-free, though arguably lags behind CommBank's experience."
Sharp savings account offers from other banks
Not sure about NAB? Check out these other savings account offers on the market:
| Bank | Savings Account | Base Interest Rate | Max Interest Rate | Total Interest Earned | Introductory Term | Minimum Amount | Maximum Amount | Linked Account Required | Minimum Monthly Deposit | Minimum Opening Deposit | Account Keeping Fee | ATM Access | Joint Application | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
0.05% p.a. Bonus rate of 5.30% Rate varies on savings amount. | 5.35% p.a. | $1,097 | – | $0 | $249,999 | $0 | $0 | $0 |
| Promoted | Disclosure | ||||||||
2.25% p.a. Bonus rate of 3.15% Rate varies on savings amount. | 6.00% p.a. Intro rate for 4 months then 5.40% p.a. | $1,134 | 4 months | $0 | $499,999 | $0 | $0 | $0 | Promoted | Disclosure | |||||||||
4.00% p.a. | 5.90% p.a. Intro rate for 4 months then 4.00% p.a. | $936 | 4 months | $0 | $249,999 | $0 | $1 | $0 | Disclosure |
