Setting up a regular deposit into one of your savings accounts can not only help you stick to a savings plan, but it can also earn you bonus interest1 eligible on some accounts like the NAB Reward Saver.

While it’s a funds transfer between two of your accounts, it’s similar to the ‘set and go’ aspect of a direct debit you might set up to pay a bill. A set amount of your choosing will be automatically transferred between your accounts at a frequency of your choice. ( i.e fortnightly or monthly).

Steps to set up a regular deposit via the NAB app

  1. Log into the NAB app.
  2. Tap Transfer & pay.
  3. Select the account you’d like to transfer from and tap Transfer.
  4. Select the account you’d like to transfer to.
  5. Enter the ‘Amount’ you’d like to transfer and tap Pay when.
  6. Tap Recurring.
    a) Tap Frequency* and select ‘Weekly’, ‘Fortnightly’, ‘Monthly’ or ‘Quarterly’.
    b) Tap Set start date** and select your preferred date.
    c) Select ‘until further notice’, ‘set end date’ or ‘number of payments’.
    d) Tap Apply.
  7. Tap Next.
  8. Confirm all details are correct and tap Pay.
  9. Payment Scheduled Confirmation screen will display.

* Choosing ‘Quarterly’ will not meet the Reward Saver bonus interest1 criteria.
**For ‘Monthly’ frequency, choose a business banking day at the start of the month.

Steps to set up a regular deposit via Internet Banking

  1. Log into Internet Banking.
  2. Select Transfer & Pay from the top menu.
  3. Select Transfer.
    a) Choose the account to transfer from and to, and the amount.
    b) For the ‘When’ option, select Recurring and fill out the time details.
  4. Select ‘Next’
  5. Check the details of the funds transfer and select 'Confirm' to schedule the payment.

* Choosing ‘Quarterly’ will not meet the Reward Saver bonus interest1 criteria.
**For ‘Monthly’ frequency, choose a business banking day at the start of the month.

Helpful resources

My Goals

Easily set, track and reach your savings goals with the NAB app.

How to save money for beginners

Our guide to creating and sticking to good saving habits.

Money saving tips

We offer a variety of simple ideas to get your bank balance rising.

Important information

1Bonus Interest – Reward Saver

To earn the bonus interest, you must make no withdrawals and at least one deposit in the month (we need to receive the deposit on or before the second last banking day of the month.) If you earn bonus interest, we calculate it using your daily closing balance and pay it monthly.

Personal Transaction and Savings Products Terms and Conditions

Personal banking fees – A guide to fees and charges (PDF, 357KB)

Indicator rates – deposit products

For the NAB app: Consider the NAB Internet Banking terms and conditions which apply when using NAB Internet Banking and the NAB app, before making any decisions regarding these products. The NAB app is compatible with Android™ and iOS, minimum platform requirements apply. Android is a trademark of Google LLC. IOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license. Products issued by NAB.

Target Market Determinations for these products are available at nab.com.au/TMD.

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