NAB vs CommBank Savings Accounts (2026)
A side-by-side, data-driven comparison of two of Australia’s most-compared savings accounts, using live Open Banking rates (5 September 2026).
NAB
4.99%
- Rate typeBonus (conditional)
- Base rate0.01%
- ConditionsMonthly conditions
- Bonus cap—
- FeeNo fee
CommBank
4.90%
- Rate typeBonus (conditional)
- Base rate0.10%
- ConditionsMonthly conditions
- Bonus cap$50,000
- FeeNo fee
On the headline maximum rate, NAB leads today (4.99% vs 4.90%) — but the right pick depends on whether you can meet monthly conditions and how long you’ll hold the balance. NAB requires monthly conditions; CommBank requires monthly conditions.
NAB or CommBank: how they differ
Both the NAB Reward Saver and CommBank GoalSaver function as conditional bonus savings accounts. Rather than offering fixed introductory promotional margins that expire after a set period, both products provide an ongoing variable rate comprised of a low standard base rate and a higher conditional bonus rate. To achieve the headline rate displayed in the table above, account holders must satisfy distinct behavioural criteria during each calendar month. Deposits in both institutions are covered by the Australian Government Financial Claims Scheme (FCS) up to $250,000 per depositor per licensed authorised deposit-taking institution (ADI).
The operational difference centres on withdrawal rules and balance growth. The NAB Reward Saver requires at least one deposit of any amount and zero withdrawals within the calendar month. A single outward transfer disqualifies the account from earning the bonus rate for that entire monthly cycle. Conversely, the CommBank GoalSaver allows withdrawals, but requires the total account balance to grow by a designated minimum amount by the end of the month (excluding interest paid). This means CommBank depositors can access their funds mid-month provided they replenish the capital plus the required growth increment before the month concludes.
Both accounts cater to disciplined savers, but they offer contrasting forms of flexibility. NAB provides flexibility on deposit size—any deposit qualifies provided no withdrawals take place—making it straightforward for those preserving a static lump sum without outward activity. CommBank provides flexibility on transactions, allowing withdrawals, but strictly demands continual monthly capital accumulation. Published rates remain indicative and can change at bank discretion, and all earned interest constitutes assessable income taxable at the individual's marginal rate.
Consider NAB if you intend to leave your principal untouched, as the Reward Saver allows you to earn bonus interest with any deposit amount provided no funds are withdrawn during the calendar month.
Consider CommBank if you need the option to make occasional withdrawals while still remaining eligible for bonus interest, provided you can deposit enough funds to ensure a net balance increase each month.
Frequently asked questions
How do the monthly bonus criteria differ between NAB and CommBank?
NAB Reward Saver requires at least one deposit into the account and strictly zero withdrawals during the calendar month. CommBank GoalSaver allows withdrawals, but requires the closing balance at the end of the month to be higher than the opening balance by a specified minimum, excluding any interest credited.
Are deposits in these accounts protected under the Financial Claims Scheme?
Yes. Both National Australia Bank (NAB) and Commonwealth Bank of Australia (CBA) are distinct authorised deposit-taking institutions (ADIs). Under the Financial Claims Scheme (FCS), eligible deposits are protected up to $250,000 per person, per licensed institution.
How is interest earned on these accounts treated for tax purposes?
Interest earned on both the NAB Reward Saver and CommBank GoalSaver is classed as assessable income by the Australian Taxation Office (ATO). It must be declared on your annual tax return and is taxed at your individual marginal tax rate. Rates shown in comparison tables are gross rates before tax.