This was posted 4 months 15 days ago, and might be an out-dated deal.

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NAB Rewards Saver 4.6% + 1.0% Bonus Interest p.a. for Migrated Citibank Savings Account @ NAB

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NAB Rewards Saver 4.6% + 1.0% Bonus Interest p.a. for Migrated Citibank Savings Account @ NAB
Go to Deal
Bargainseeker43 on 12/12/2023 - 18:53 nab.com.au (511 clicks)
Last edited 12/12/2023 - 19:03 by 2 other users

This is one of the highest savings interest rate.
Eligible if you got Citi Branded accounts
Details below:

Citi branded accounts
The following Citi branded accounts will be migrated to a NAB Reward Saver account:

  • Citibank Online Saver
  • Citibank Plus Linked Savings Account
  • Money Market at Call Account

Credit interest rate on your NAB Reward Saver account

Details of the current applicable credit interest rates on your NAB Reward Saver account are as follows:

$1 - $49,999
Variable base rate 4.60% p.a.
Variable bonus rate 1.00% p.a.
Total interest rate 5.60% p.a.

$50,000 - $249,999
Variable base rate 4.60% p.a.
Variable bonus rate 1.00% p.a.
Total interest rate 5.60% p.a.

$250,000 - $999,999
Variable base rate 4.60% p.a.
Variable bonus rate 1.00% p.a.
Total interest rate 5.60% p.a.

$1,000,000 plus
Variable base rate 4.60% p.a.
Variable bonus rate 1.00% p.a.
Total interest rate 5.60% p.a.

Variable bonus rate is applicable when at least one deposit is made to the NAB Reward Saver account on or before the second last banking day of the month, and there are no withdrawals in the relevant month. A banking day is any day that isn’t a weekend or an Australia-wide public holiday.
Rates are effective 11 December 2023 and are subject to change at any time in accordance with the account terms and conditions.
Rates are available on this page at any time.

Financial Bank Account Savings Account

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)

closed Comments

  • thewooz on 12/12/2023 - 19:03
    +2

    So this is only for existing Citi savings accounts? Looks like the regular NAB saver only offers 5% :(

    • digitale on 12/12/2023 - 19:22

      Yes, only if you have a Citibank Online Saver or a Citibank Plus Linked Savings Account.

      • nightelves on 12/12/2023 - 20:08

        What do you mean by a linked account? Mine is just a Citi Plus transaction account.

        • digitale on 12/12/2023 - 21:06

          When you opened a Citi Plus transaction account, there was an option to also open a Citibank Plus Linked Savings Account. This is different to a Citibank Online Saver

  • Haribo on 12/12/2023 - 19:04
    +2

    So is it only for migrators?

    • tekisei on 12/12/2023 - 23:08
      +3

      Isn't this "deal" unobtainable? From my reading of my own email if you are eligible you already automatically get it, and if you are not eligible there is no way of getting it.

    • payless69 on 13/12/2023 - 07:47

      Ask Gert Wilders about immigration…

  • txb on 12/12/2023 - 19:14
    +1

    I have a Citi plus and got migrated to a nab classic account? Am I meant to do something else?

    • digitale on 12/12/2023 - 19:23

      If you only have a Citi plus then you'll only get NAB Classic Banking account. However, unlike the regular NAB Classic Banking account, you'll get free overseas transactions & ATM.

      • trouble11111111 on 12/12/2023 - 20:01

        Just double check free overseas transaction & ATM features are still there? And any minimum amount or monthly on this NAB classic account?

        I have Citi plus account. Recently received NAB card.

      • nightelves on 12/12/2023 - 20:10

        What if an account was created for you beforehand?

      • nightelves on 12/12/2023 - 20:15

        Where do you see overseas withdraw as being free? Thought it was just overseas transaction.

      • cheap4321 on 12/12/2023 - 21:20

        do you know how NAB will differentiate the 2? The names are both the same - I just hope I still get free overseas transactions & ATM.

      • asc on 12/12/2023 - 21:38

        This free ATM fee, is it the same as the fee Ing recently scrapped (the benefit)?

    • Covid19 on 12/12/2023 - 19:40
      +1

      Same here. Got migrated to NAB classic account, and have been offered an attractive 0.01% interest rate.

  • huntabargain on 12/12/2023 - 19:16

    I got this email, do you need to create NAB new log in or just sign up with the Citi log in? I still managed to log in Citi.

    • digitale on 12/12/2023 - 19:24

      If you have an existing NAB ID and your details are the same, the new accounts will appear under your existing NAB ID/login. Otherwise they'll give you a new NAB ID. You can contact them to merge the new accounts to your existing NAB ID.

      • huntabargain on 13/12/2023 - 11:44

        Thanks managed to set it up, found NAB ID in the email.

        • tabotabo on 14/12/2023 - 13:55

          I have NAB ID in my email. How did you get your password ?

          • huntabargain on 14/12/2023 - 14:01

            @tabotabo: On log in page click register, then enter NAB ID and keep enter Next with all info, they will send you sms to verify.
            At end it ask to create password.

            • tabotabo on 14/12/2023 - 14:04

              @huntabargain: I was asked to input telephone banking or temporary password. I guess they don't send SMS to overseas mobile.

              • huntabargain on 14/12/2023 - 14:07

                @tabotabo: They sent sms to my registered number on system which is aust no. Not sure what happen if yours was overseas no. You can always call them or all Citi accounts will go to NAB automatically sometime in feb 24

      • Yola on 21/12/2023 - 17:06

        They gave me a new ID and will not merge them till after 24 Feb. when transfers from CITI are complete. So I have to use 2 logins.

  • dodgey on 12/12/2023 - 19:24

    From the looks of it, the migration is a manual process.

    You will get an email with your NAB ID and you will need to create a new sign in account with the NAB ID.

    You will also need to transfer whatever you have in your Citi account to the NAB one. (Or wherever else you open an account)

    If you do not transfer it before the closure date, that's when they will transfer it for you.

    That's what I understood anyway.

    • lgacb08 on 12/12/2023 - 19:56

      The only thing manual is to set up your password to login to internet banking.
      I have account with nab and citi and they automatically merged into my internet banking, they probably sent me new customer number as I haven't used the nab account for a very long time. Even the first name on citi and nab not matched but they figured that out.

  • CVonC on 12/12/2023 - 20:28

    Well damn I closed my Citibank savings account years ago after taking advantage of the honeymoon rate.

  • cubeofspades on 12/12/2023 - 20:35
    +1

    Any way to jump on this for people who only have a Citi Plus account?

  • huntabargain on 12/12/2023 - 20:50
    +3

    Am I missing something, the email stated interest rate as above (4.65%+1%), but when I created a NAB log in detail using the NAB ID that was provided in the email, and set up password, etc.. and went to account details:
    Product name: NAB SMART REWARD SAVER
    Rate
    NAB Reward Saver has a tiered interest structure, meaning you may receive a different rate for the entire balance depending on the tier your balance falls within.
    When clicking the link the rates are:
    $1 - $49,999
    Variable base rate
    0.35% p.a.
    Variable bonus rate
    4.65% p.a.
    Total interest rate
    5.00% p.a.

  • Buyingcrap on 12/12/2023 - 21:03

    Hmm gotta find a spot to dump 30k. I've hit 100k in my ing account then got a 30k windfall. I'll look into this tomorrow.

    • lordra on 12/12/2023 - 21:47

      Do you have an existing account with them?
      If not, how do you take advantage of this deal?

  • wetwork on 12/12/2023 - 21:03

    How about opening a Citibank account now? Will it get transferred after opening?
    Or is only for accounts opened in the past?

    • silverstone2023 on 12/12/2023 - 21:18
      +1

      Only for existing accounts. As of 20 May 2023, you could no longer open a Citibank Online Saver account.

      • wetwork on 13/12/2023 - 10:49

        Thanks. figured as much.

  • ruprectaus on 12/12/2023 - 21:21
    +1

    I have recently been migrated and have both new accounts appear but if I click on the rate info at the bottom of the details page for the new Rewards Save it says 5% ? The same as my also existing NAB Rewards saver, is it because I already have NAB accounts that I don't get offered the 5,6% I wonder or is this some secret hidden info ?

    • digitale on 12/12/2023 - 22:03

      I guess NAB will have to fix the link.

    • huntabargain on 13/12/2023 - 11:49

      I had the same and called NAB and they confirmed it’s 5.6% as the link of 5% is general one, I understand you get the bonus 1% after a month.

      • Yola on 21/12/2023 - 12:11

        No.

        Important Note – We'll add the bonus rate if at least one deposit is made on or before the second last banking day of the month and there are no withdrawals and debits during the month.

        • huntabargain on 21/12/2023 - 14:01

          No for what??
          I said it’s 4.6% + 1% bonus if satisfy condition..

    • roofyapple on 14/12/2023 - 17:42

      NAB really needs to be more transparent with their rates especially when they have “secret” rates for a selected customer base

  • Craze on 12/12/2023 - 21:36

    Maybe time to close ING account and keep this NAB instead (mine is migrating from Citibank Plus)

  • asc on 12/12/2023 - 21:41
    +4

    The no withdrawals is a bummer!

    • Gavman on 12/12/2023 - 22:03
      +1

      Yep deal killer for me. But the fact they can change the rate / deal any time suggests to me they’ll prob offer it for couple months before they scale it back to 4.6% plus 0.35%. Not worth hassle when u can get 5.1% with no strings

      • Sammyboy on 12/12/2023 - 23:02
        +1

        So you would only withdraw the day after interest is paid right?

  • enricosanchez on 12/12/2023 - 22:17
    +2

    Be careful of nab, I have a NAB Reward Saver and calculated they've been adding 1% below the agreed rate for a few months now, support hasn't replied 1 week after complaining. This is the third time I've noticed them short changing me in the last few months since opening the account. Beware it's not set and forget, they will rip you off.

  • purple1 on 12/12/2023 - 22:53
    +3

    For customers migrating from Citi.
    The NAB Classic Banking Account has a daily transfer limit of $40k to a domestic bank with no option to request for a temporary increase either.
    NAB also charges an outward telegraphic transfer fee of $30 if you choose to send the money in AUD, otherwise if sent in the destination currency, NAB uses its own Forex conversion rate, so you're hit with a TT fee either way.
    This is by no means a like-for-like account migration.

    • excite on 12/12/2023 - 22:59
      +1

      looks like no other bank account offer fee free international transfer in AUD?

      • purple1 on 12/12/2023 - 23:13
        +2

        According to NAB, they are looking into this with the possibility of matching Citibank's Forex conversion rate.
        However, this should have been investigated and resolved from the first day of account migration.

        • tekisei on 14/12/2023 - 11:58
          +1

          Citi, as operated by NAB, has had its forex rates drift further and further from spot rates this year. The spread is so high now compared to what it used to be.

  • payless69 on 13/12/2023 - 07:51

    I was going to post this.
    But here are the hard facts:
    Citi access is kaputt, telephone service is also kaputt
    got to wait 2 Months for their transfer.
    NAB app took 4 go's to enable fingerprint.
    If you withdraw end of month you lose all interest for that month. (like Virgin)

    • nightelves on 13/12/2023 - 09:55

      If that the case wouldn't it be better to just get the Anz Plus then?

    • roofyapple on 14/12/2023 - 19:37
      +2

      That’s not how it reads. If you withdraw, you only miss out on the variable interest isn’t it?

      “Variable bonus rate is applicable when at least one deposit is made to the NAB Reward Saver account on or before the second last banking day of the month, and there are no withdrawals in the relevant month.”

  • Bargaphile on 13/12/2023 - 13:58
    +1

    What's the best account someone can get with features like the dead CITI account? I received the garbage NAB classic account, which is nothing like the CITI account I had.

    • Coops1 on 23/12/2023 - 19:25

      Its exactly the same! What do you think is different?

  • bird380 on 02/01/2024 - 12:39

    Product name:
    NAB SMART REWARD SAVER

    Total interest rate: 5.00% p.a.

    Nowhere showing it's 5.6% except from the email

    • Yola on 02/01/2024 - 18:11

      I spoke to them and they confirmed. Seems that is all that we have to go on.

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