- No monthly account fees
- No application fee
- Fixed interest rates
- Minimum opening deposit of $5,000
- View Term Deposit interest rates
Benefits and features
Rates and Fees
Make your financial goals a reality
- Feel secure in knowing exactly how much your investment is worth when your term is up.
- Avoid any surprises with an interest rate that is locked in for the term that suits your needs.
- Lock your funds away, and know that your money is working for you.
Meet your needs with options that suit you
Manage your money easily from day one until maturity
- Keep track of your term deposit with NAB Internet Banking and the NAB app.
- We’ll remind you when your Term Deposit is approaching maturity so you can plan your next move.
- Reinvest, add extra money or withdraw it at the end of the term. You can even arrange to have it transferred to any Australian bank account if you need some cash.
You need to be 18 or over to apply online.
You must be a permanent Australian resident.
Your basic personal and contact details.
Have your tax file number (TFN) handy or we may have to collect withholding tax.
Before you apply
Need to know
- This product has a fixed term and you’ll need to provide 31 days’ advance notice to make an early withdrawal.
- When your deposit matures, a higher or lower interest rate may apply to any subsequent term.
Ways to apply
- Apply online right now. It takes less than 10 minutes and you don't need to already be a NAB customer.
- If you're already a NAB customer you can apply through internet banking. We’ll open your term deposit in the same name(s) as the account you deposit the money from.
- You can apply online for term deposits from $5,000 – $250,000. If you'd like to apply for a higher term deposit amount please call us on 13 13 12 from 8am - 9pm Mon-Fri, or 9am - 6pm on weekends (AEST/AEDT). Or visit your nearest NAB branch.
After you apply
What happens next?
- We'll send you an email confirming we've received your application to the email address you provided us. We’ll use the email address you provided us to confirm your application, and to check any of your details if we need to.
- Your funds must be received by NAB within three business days of submitting the online application. You'll need to transfer funds electronically by using BPAY® in a single transfer using the Biller Code and Customer Reference Number we give you when your submitted your online application. The institution you are sending money from may charge a fee and may impose transfer limitations. You may wish to check with that institution in advance.
- Once you've transferred your funds via BPAY® and we've opened your account, you'll receive a lodgement confirmation letter in the post within 5-7 days to confirm the details of your Term Deposit. You'll also receive a welcome pack with other important information, such as a copy of the Terms and Conditions.
- New customers will need to visit a NAB branch to complete the standard 100-point ID check.