NAB Savings Accounts Comparison

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Comparison of NAB Savings Accounts

The National Australia Bank is not only one of the Big Four Banks at home, NAB is also one of four pillars in the National Australia Group. In addition to NAB in Australia, the Group is also made up of Clydesdale Bank and Yorkshire Bank in the UK, the Bank of New Zealand which focuses on retail, businesses and agribusiness products and services, and Great Western Bank in the Americas.

Savings Account	Account Details	Intro Rate p.a.	Variable Rate p.a.	Intro Period p.a.	Fees	Min Balance and Min Deposit
NAB iSaver	5.40% p.a. apply online before 13th April 2010	5.40%	3.75%	1.65%	FREE	$1

Therefore, as one of the largest banks in Australia, NAB can offer you a wide range of savings accounts, term deposit options, and transaction accounts for your everyday use. However, just because you are opening a bank savings account with a trusted name, it doesn’t mean you don’t need to compare their products to make sure you choose the right one.

NAB Banking Accounts

Savings Account	Account Details	Intro Rate p.a.	Variable Rate p.a.	Intro Period p.a.	Fees	Min Balance and Min Deposit
NAB Classic Banking	$0 monthly fee	0.01%	0.01%	0.00%	$0	$0
NAB Gold Banking	$10 monthly Or, simply deposit at least $5,000 per month and you won’t pay the monthly account service fee.	0.01%	0.01%	0.00%	$10 monthly* ($0 if deposit at least $5,000 per month)	$0

When comparing NAB savings and transaction accounts:

• Find out about all of the features and benefits, not just the promotional offers or fun gimmicks of the product.
• Be clear about how the features of the account will match up to your financial needs and spending habits.
• Take a moment to think about features and benefits you wish your savings or transaction accounts had – chances are they exist in a NAB account which you can open right here.
• It doesn’t have to be that hard – if you’re having trouble with the online application form, perhaps an online savings account isn’t the right option at the moment, alternatively if you seem to spend the money you plan to deposit into your savings account before you get around to visiting the bank then perhaps you need an account which will make the transfers for you.
• Compare the features and benefits of NAB’s saving and transaction accounts side by side at Savings Account Finder and travel via a secure link to the NAB site for more information or an application.

How to Choose the Best NAB Savings Account

The best NAB savings account is not the one which has won the most awards or has the funkiest name – the best savings account is the one which best suits your needs, and only you can know what your savings needs are. Therefore, take a minute to focus on your current savings habits, your typical savings downfalls and your desired savings goals and you can then easily choose the best NAB high interest savings account.

Features of NAB’s high interest savings accounts:

• The NAB iSaver account is a high interest savings account with a variable interest rate, no account or transaction fees and requires a minimum opening balance of just $1. The iSaver account can be opened entirely online and allows you instant access to your savings when you link the account to another NAB account. You’re not penalised for making withdrawals and you don’t have to make a minimum amount of deposits in a month to earn your interest.
• The NAB Smart Reward Saver gives you extra incentive to save by offering you bonus interest. If you know you can take complete control of your savings and avoid making withdrawals and make only deposits to your savings account, you have the ability to earn bonus interest on a Smart Reward Saver account. As with the iSaver account there are no monthly fees and you have instant access to your funds online, but you can also access your Smart Reward Saver account in a branch.
• If you are under 18 years and want to start some serious savings the NAB Smart Junior Saver is the best account for you. Whether you are at school and want to boost your spending money, or you are a parent wanting to open a savings account for your child the Smart Junior Saver is easily opened online and your child has the option to strive for bonus interest when they make only deposits and no withdrawals in a month. The Smart Junior Saver also comes with a dedicated money box for your child to keep their savings safe in between bank visits, and an encouraging graph on each statement to show the growth of your child’s investment.
• NAB online savings accounts all include extra security. Each of these online savings accounts include the option for additional SMS authentication for internet banking and online transfers so you can be sure your savings are safe at all times.

  
  

Choose the Right NAB Transaction Account for Your Banking Needs

Choosing an everyday transaction account is even more straightforward than deciding on a high interest savings account as there are more to choose from. More choice might ordinarily make the decision more difficult, but with the range of NAB everyday accounts it is easy to determine which features will best suit your needs and lifestyle.

To choose the right NAB everyday account:

• Are you an online banking addict? Then consider opening a NAB eBanking account. The eBanking account offers you full online access to conduct all of your banking, bill paying and purchasing from the comfort of your couch, the floor, the deck, the bus… For just $4 a month in account fees you can choose to have a Visa debit card, access your everyday funds via ATM, telephone banking and EFTPOS. Plus, because you are so eSavvy, you won’t even need to worry that there are additional fees for branch access or cheque facilities because you don’t need them.
• Are you a traditional type of banking customer? Then consider the benefits of a NAB Classic Banking account. For just $5 a month you’ll have full branch access included as well as a Visa debit card, ATM access, EFTPOS, internet banking, phone banking, cheque deposits and cheque cashing.
• If you are the classic student banker you can open a Classic Banking account with $0 monthly fees. Full time tertiary students can take advantage of all the classic options of a NAB everyday account, without having to worry about a monthly service fee.
• Do you demand superior banking access wherever you are in the world? Then the NAB Gold Banking account might be right for you. For a slightly higher monthly account fee of $10, you can have all of the classic account options to access your money day to day, but you can also avoid any overseas ATM fees.
• Are you over 55 years old, or retired, or both? Then the NAB Retirement Account will suit your needs. NAB’s Retirement Account has a $0 monthly fee and gives you unlimited access to over the counter transactions, unlimited use of NAB ATMs, unlimited phone, internet and EFTPOS transactions and unlimited Visa Debit transactions. You also don’t have to worry that your transaction account will affect your pension as the Retirement Account is specifically designed not to affect retirees, or those receiving a Department of Social Security/Veteran’s Affairs pension or allowance, which is subject to deeming.
• Are you a concession card holder? Then the NAB Concession Card Account will be just right for you. There is no monthly account fee and full access to NAB ATMs, phone, internet and EFTPOS transactions, and no access to a Visa card or cheque facilities. This is just a straightforward account to allow you to buy what you need and want, and pay your bills simply and easily.
• Are your overdrawn fees out of control? Then you need the NAB Clear Banking account which won’t charge you any overdrawn fees. That’s right – you can avoid those surprises when you went over your limit or scheduled a payment without enough funds because the Clear Banking account doesn’t give you access to a Visa card or cheque facilities. Plus, because there are less chances of you overdrawing your account, you won’t be charged any overdrawn fees – before a purchase or payment overdraws your account, the transaction will be declined where possible.

• All NAB everyday accounts give you the option to waive or reduce your monthly account fee if you make a certain amount of deposits within that month.

NAB makes it easy for you to choose the best savings or transaction account, all you need to do is be honest about how you use your money, and how you would like to be able to use your money in the future. Then all you have to do is open the NAB account which best suits your needs and take control of your finances.

• NAB iSaver Savings Account – The NAB High interest savings account
• NAB Gold Banking Account – NAB Full savings banking access with premium extras
• NAB Classic Banking Account – Unlimited banking for your savings
• NAB eBanking Account – NAB’s electronic banking account with unlimited online banking