IMB Bank Savings Accounts

IMB Bank is a provider of savings accounts, transaction accounts, term deposits, credit cards, home loans and other banking products

What savings accounts does IMB Bank offer?

At the time of writing, IMB Bank offers the following savings accounts: 

  • Reward Saver – an account with bonus interest when you deposit $50 and make no withdrawals during the month. 
  • Reward Saver Kick Start – designed for students, this savings accounts gives you bonus interest when you deposit $20 and make no withdrawals during the month. 
  • Christmas Club – pays bonus interest when no withdrawals are made between January and October. You can then access your savings in November and December to pay for Christmas expenses. 

In addition to its traditional savings accounts, IMB Bank offers an interest earning cash management account, as well as a DIY super account.

You can view the current interest rates on some of IMB Bank’s savings accounts in Canstar’s comparison tables.

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Do IMB Bank savings accounts require a linked transaction account?

IMB Bank does not specify that its accounts require a linked transaction account. For more information, contact IMB Bank. 

If you are looking to compare transaction accounts, you can do so using Canstar’s comparison tables to potentially find one that suits your requirements.

Does IMB Bank charge fees on its savings accounts?

Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. At the time of writing, IMB Bank says it charges no monthly account keeping fees on its savings accounts. IMB also says charges no transaction fees on its Christmas Club Account. For a full list of fees and charges, read IMB Bank’s Fees, Charges and Limits Product Disclosure Statement (PDS). 

What does IMB Bank offer in terms of mobile banking for savings accounts?

IMB Bank has a mobile banking app that is available for download through the App and Google Play Stores. Notable features of IMB Bank’s app include:

  • Ability to check account balances and transaction history
  • Access to calculators and interest rate information 
  • Real time payments with Osko 
  • Message IMB Bank using the in-app messaging function 

How do I apply for an IMB Bank savings account?

Before applying for an IMB Bank savings account, consider comparing it against other savings accounts on the market to ensure it’s the right one for you. 

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If you decide to open an IMB Bank savings account, you will need to meet the following eligibility criteria:

  • You must be aged 13 years or over
  • You must be an Australian resident with an Australian residential address

You will also need to have two forms of identification at hand. For example, your driver’s licence, passport or Medicare Card. 

About IMB Bank

Established in 1880, IMB offers a full range of banking products including home and personal lending, savings and transaction accounts, term deposits, business banking and financial planning. IMB has branches throughout the Illawarra, Sydney NSW South Coast, the ACT and Melbourne.

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Written by: Tamika Seeto | Last updated: July 18, 2019