Personal finance / Analysis

NAB and Westpac change their bonus saver rates, but others still offer a better deal

David Chaston profile picture

20th Sep 25, 12:08pmbyDavid Chaston

Two big banks change rates for savers

Two big banks have made changes to their on-call savings accounts.

NAB has added +5 bps to two different accounts while Westpac has shifted some of its base rate on its Life Saver account to the bonus portion, so that doesn't change its potential rate for the Life Saver.

Image:
Table

As a result, NAB has marginally improved its competitiveness for savers, but Westpac has not (essentially penalising savers who dip into this account by making a withdrawal in the month).

NAB's Reward Saver offers a marginally better rate, but isn't as attractive rate-wise as the ANZ Plus Growth Saver, nor Commbank's Goal Saver, nor Macquaries' Standard Saver, or even Westpac's Life Saver.

The bank with the highest bonus saver in our Savings table (that isn't a welcome rate special) is ING's 4.80% on its Savings Maximiser account.

You can find our full Savings Account table of all the nine biggest banks here.

Comments

We welcome your comments below. If you are not already registered, please to comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments.

Please to post comments.