NAB Self Managed Superannuation Fund (SMSF) deposit accounts

Boost your retirement plans with two accounts working together to help you meet your SMSF cash needs.

If you’d like to manage your own superannuation, we're here to help. Running your own SMSF takes time and diligence, so you'll need products that support you in your goals and are easy to use. Our SMSF deposit accounts will enable you to balance flexibility with secure returns.

NAB Cash Manager

The NAB Cash Manager account is an ideal working account to use for your SMSF’s operations. It offers a safe place to park funds in-between investments, a competitive variable interest rate and instant access to your funds.

It gives you:

  • a competitive interest rate on every dollar, regardless of your balance
  • access to funds through any NAB branch, NAB Internet Banking or NAB Telephone Banking (including BPAY® and periodical payments)#
  • optional chequebook access
  • no monthly account service fees or transaction fees
  • quarterly statements, with the option to receive statements online via NAB Internet Banking#.

Note: You’ll need an opening balance of at least $5,000 to open a NAB Cash Manager account. Once open, there's no minimum balance. NAB Flexi Card and overdrafts aren’t available for SMSF.

NAB Term Deposit

Lock in a portion of your super funds and know exactly what the return on your money will be over a fixed period of time. Make your funds work harder with competitive rates available for terms from seven days to five years.

When your term deposit reaches maturity you can:

  • have the funds directly credited to an account
  • reinvest the funds in a new term deposit (either with the interest included, or after you've had the interest paid to you)
  • receive your funds as cash or a bank cheque from any NAB branch.

If you invest for 12 months or longer, you can choose to receive your interest monthly, quarterly, half yearly, or annually. For shorter term deposits, we pay interest at maturity (at the end of the term).

How to open accounts for your SMSF

Obtain a Trust Deed

A Trust Deed is a legal document that sets out the rules for establishing and operating your fund. We’ll need to see the Trust Deed before we can open any accounts for the SMSF, and keep a copy for our records.

If you don't already have a Trust Deed, contact a NAB Financial Planner* who’ll discuss your goals, provide advice, and help you establish your fund.

Visit your nearest NAB Branch

Once you have your Trust Deed, bring the original or certified copy with you to your nearest NAB Branch to open your accounts in the name of your SMSF.

If it's not part of your Trust Deed, you'll also need to bring an original or certified copy of the list containing the full name of the fund members (or applications for membership to the fund).

If a company is acting as trustee we may need to complete a company name search, which incurs a name search fee. For more information refer to our Guide to Business Banking Fees and Charges.

Provide us with the TFN & ABN of the SMSF trust

You'll also be asked for the Tax File Number (TFN) and Australian Business Number (ABN) of your SMSF. You don't have to provide us with this information, but if you choose not to we may be required to collect withholding tax on the interest you earn.

You'll need to apply for a TFN and ABN for your SMSF once it has been registered with the Australian Taxation Office (ATO) – if you don't have this information with you while at the branch you can provide us with the TFN and ABN at any stage after by visiting your nearest branch or calling 13 22 65, 8am - 7pm Mon-Fri and 9am - 6pm weekends (AEST/ADST).

This means that withholding tax will apply on any interest you earn on your NAB Cash Manager or NAB Term Deposit account up until the date you provide us with your TFN and ABN.

Provide 100 points of ID and signature specimens for any Trustees who are new to NAB

We’ll need to see 100 points of ID and collect signatures for any trustees of the fund who are new to NAB. There may be additional paperwork that you’ll need to complete, so you may want to have all of the trustees in the branch when opening your accounts.

Consider NAB Internet Banking:

You can ask to be set up with access to NAB Internet Banking, which gives you access to online banking, online statements and other payment options such as BPAY and periodical payments.#

You can either establish new NAB Internet Banking log in details for your fund, or if you're already our customer you can request to be set up to view your SMSF accounts via your personal log in details. Remember: your SMSF funds should be held separately from your own assets, so make sure you easily see which accounts are your personal accounts and which belong to the fund – to distinguish between the two you can easily set up different account nicknames in NAB Internet Banking.

Other options:

Once your fund has been established and your accounts set up you may like to consider:

Want to know more?

If you would like to know more or have any questions, simply head into your nearest NAB Branch or give us a call on 13 22 65, 8am - 7pm Mon-Fri and 9am - 6pm weekends (AEST/ADST. We'll be happy to help.

Important information

®Registered to BPAY Pty Ltd ABN 69 079 137 518

# You must be registered for NAB Internet Banking and NAB Telephone Banking to use these services. Terms and conditions apply. Fees and charges may be payable.

Any advice in this document has been prepared without taking into account your objectives, financial situation or needs. Before acting on any such advice, you should consider whether it is appropriate for your circumstances. You should consider the Terms and Conditions or other disclosure document, available from NAB, before making any decisions regarding any of the products mentioned above. Products are issued by National Australia Bank Ltd ABN 12 004 044 937, unless otherwise stated.