NAB iSaver

Moneybuddy says

NAB iSaver is a really simple online savings account. Saving is made easy with no transaction fees and no account keeping fees as well as a high introductory interest rate.

The Basics

Interest paid Monthly

Interest calculated Daily

Headline interest rate p.a. 5.50%

Monthly fee $0

Account type Savings

The cool stuff: features

ATM access -

EFTPOS access -

Branch access -

Internet Banking Yes

Age restrictions -

Cheque book facility -

Debit card -

BPAY -

GiroPost -

Phone access -

The Facts & Figures

Balance less than $1k (p.a.) 5.50%

Balance less than $5k (p.a.) 5.50%

Balance less than $25k (p.a.) 5.50%

Balance greater than $100k (p.a.) 5.50%

Min. balance $1

Min. opening deposit $1

Number of free elect transactions per month -

The ugly stuff: fees

Other bank ATM fee -

EFTPOS transaction fee -

Branch assistance fee -

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NAB says

Open a NAB iSaver and you'll receive a fixed bonus interest rate of 1.35% p.a. for 4 months, on top of the standard variable interest rate, currently 4.15% p.a. No bank fees & no minimum opening balance requirements - you can open accounts with just $1. Interest is calculated daily and paid monthly, unlimited deposits and withdrawals have no impact on interest rates. Once your savings are in your linked everyday account, you can transact in all the usual ways.Fees may apply to this linked account. Additional benefits include regular statements and optional online security with NAB Internet Banking SMS Authentication. Terms and conditions apply.

Key features

High interest rate
No bank fees
No minimum opening balance requirements - you can open accounts with just $1
Interest calculated daily and paid monthly
Unlimited deposits and withdrawals with no impact on interest rates

Pros

No bank fees
5.50% special variable introductory rate
No interest rate penalties for making withdrawals

Cons

There are higher standard rates available

Terms & conditions

Interest rates current as at 16 December 2011 and subject to change. The NAB iSaver introductory rate is applicable to NAB iSaver accounts opened from 16 December 2011 for 4 months from account opening. This fixed bonus interest rate applies to that part of the balance up to $1 million. For balances greater than $1 million, the portion of the balance above $1 million will receive the standard variable NAB iSaver interest rate. After 4 months accounts will receive the standard variable NAB iSaver interest rate.