NAB Bank

In light of the recent banking reforms NAB has shone through with a commitment to lower fees and fairer banking services for their customers.

With four different savings options to choose from, looked at below, NAB covers the basics and more for all kinds of customers.

NAB iSaver

The NAB iSaver is the only online saving option for NAB Customers. While there are higher interest online accounts out there, the real drawcard for NAB’s iSaver is that it has no limit on deposit amounts while most other online savings accounts will limit the amount of money that can be held in the account.

With interest calculated daily and paid monthly, no account fees and unlimited transactions, this online savings option could be ideal for if someone really wants to get their most out of their money.

NAB Smart Reward Saver

The Smart Reward Saver has potential for people who want a more traditional savings account for their money.

This account has no monthly or transaction fees and encourages people to save interest is paid monthly when at least one deposit and no withdrawals are made for that period.

But if these conditions are not met interest will be calculated at a meagre 0.01% p.a. so this account is best suited to people who can regularly save and leave their money untouched.

NAB Smart Junior Saver

An ideal first savings account specifically designed for people under 18 years of age, the Smart Junior Saver teaches people the value of saving and rewards good saving habits.

This account includes:

• A free money box
• Unlimited deposits
• No monthly account fees;
• No minimum opening balance

It also offers quarterly statements with graphs that track the progress of savings to help teach young people how to make the most of their money.

NAB Investment Accounts

As well as these three savings account options, NAB offers two different investment accounts for balances over $5000.

The NAB Term Deposit account offers fixed terms from one week up to five years, offering a great interest rate it is one of the most competitive term deposit options on the market.

In contrast, the NAB Cash Manager offers unlimited access to your money without any transaction or monthly fees.

NAB is focused on fair banking options and with all of these different savings account choices, chances are you will find a fee-free savings option to help you get your money’s worth out of saving.