Beware of NAB's dishonest tactics
A few months ago while at the branch was advised to place a sizable amount in a isaver account as it paid a better interest rate. ie 1.9%. This rate is still advertised by NAB. However last week while I was at the branch I was advised that the rate paid on the amount was only 1.2%. Apparently the NAB's deal is; the longer you keep the money (irrespective of the advertised rate) the lower the rate paid. If this is not stealing, I don't know what is.
Easy to setup and manage but low interest after 3 months.
My iSaver account is good to store money that I'm not using or investing. Whilst the interest earned is low the ease of access means it's a great addition that is better to have than to not have. It's easy to do an online transfer between accounts and works well to partition my account. If you have a NAB account already it makes sense to get one basically.
I like that i can have a savings account with NAB that is easy to operate. As I have a credit card and transaction account with NAB its easy for me to transfer money from one account to another. The interest rate could be a little higher to make the account more competitive though.
Easy to have accounts linked on my internet banking.
The interest rate could be a little higher.
This is a fast easy account to set up. For exisiting NAB customers it is a good, free savings account. However, for non nab customers the fee involved in the linked transaction account may mean it is not cost effective
The NAB isaver is a fee free account. It pays a reasonable amount of interest, with a bonus rate for the first four months (check current rates though of course). Online access is easy to use. Can be used by phone or internet banking.
This account must be linked to a NAB transaction account which may be charged a fee. Direct debits are not able to be debited from this account.
Doesn't disappoint but nothing really special. A little more research will reveal better products with higher interest returns but for existing NAB account holders probably not a bad idea.
As far as a online saving accounts get, pretty much average. Nothing special. Easy to use, reasonably good interest rate and the security of NAB... But nothing special...
Those who have really done some research will know that NAB also runs ubank savings, an online account with much higher interest rate. If you are very competent with online banking activities, I would say there are better products out there.
Well, it's the NAB. There's always an extra layer, at least, of complexity and confusion.
Ubank-(NAB in sheep's clothing)-really good interest rate and I believe you can get your own money back out again more easily-
You can get a better and much longer lasting Bonus interest rate period at Bankwest, and the linked account doesn't have to be Bankwest and I think it's a lot easier to get your own money back out again
Depending on circumstances, St George Directsaver is good- though you may have to haggle to get bonus interest rate
What I am ...
The NAB iSaver savings account offers a competitive variable interest rate and an attractive account package. The iSaver is linked to a NAB transaction account and then funds can be transferred between your NAB accounts or transferred directly by third party payers. Unfortunately customers are not able to access their iSaver funds using EFTPOS, but the ability to make unlimited deposits and withdrawals without affecting your interest payments is appealing. Overall, this is a competitive and attractive offering by NAB.
No transaction or account keeping fees, no minimum balance requirements, unlimited deposits and withdrawals, compound interest calculated daily
Electronic access only
Questions & Answers
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