NAB Term Deposit 'trade up'

• You begin with a competitive NAB Term Deposit rate and if interest rates rise, you can 'trade up' once (except during the final seven days of your term when no 'trade up' is available.) If interest rates go down, your opening rate still applies.  For example, if you invest for a fixed term of two years at 3% p.a. and after 14 months interest rates rise and NAB offers 3.5% p.a. for a 10 month term on a standard NAB Term Deposit you can choose to 'trade up' to 3.5% p.a. Then your total earnings would be 3% for the first 14 months of your investment and 3.5% p.a. for the last 10 months
• You can trade up by a maximum of 3% over your original Term Deposit rate. After you 'trade up' the new rate is fixed for the remainder of the term
• You can benefit even more from a rate rise by adding funds to your investment when you trade up. You then earn higher interest on a larger deposit, resulting in greater total earnings, however your total investment cannot exceed $500,000
  

View current interest rates

Interest payments may be made monthly or annually.  You can choose to have interest:

• Directly credited to NAB account of your choice
• Compounded in your NAB Term Deposit (interest can only be compounded for terms of 12 months or more)
• Paid to you by bank cheque
• Paid to you in cash from your NAB branch
• Added to a new NAB Term Deposit
  

• You can invest your money in a NAB Term Deposit 'trade up' account for a fixed term of two years
• You can invest funds from $5,000 to a maximum of $500,000 for a fixed term of two years in a NAB Term Deposit 'trade up’
  

• A NAB Term Deposit is free of any lodgement fees, maintenance fees or redemption fees when your investment matures. Government charges and an economic cost may apply
• Your 'trade up' interest rate will be the rate offered on NAB's Standard Term Deposit which corresponds to the amount, frequency of payment of interest and the remaining part of the term of your deposit on the date of your 'trade up'
• For all fees and charges read the  Guide to Fees and Charges

There's two easy ways to apply:

• Call us on 13 13 12, 8am to 9pm EST, 7 days a week
• Drop into any NAB branch

Of, if you are already a NAB customer, and registered for NAB Internet Banking, you can apply online for a NAB Term Deposit by logging in to your NAB account.

Find out more about what information you'll need to apply for NAB Term Deposit

Before applying, please read the Terms and Conditions and Fees and Charges Guide.