Setting up regular deposits to help you save

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).

Log into the NAB app
Tap Transer & Pay
Select the account you’d like to transfer from and tap Transfer
Select the account you’d like to transfer to
Enter the ‘Amount’ you’d like to transfer and tap Pay when
Tap Recurring
- Tap Frequency* and select ‘Weekly’, ‘Fortnightly’, ‘Monthly’ or ‘Quarterly’
- Tap Set start date** and select your preferred date
- Select ‘until further notice’, ‘set end date’ or ‘number of payments’
- Tap Apply
Tap Next
Confirm all details are correct and tap Pay
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.

Log into Internet Banking
Select Funds Transfer from the top menu
Select ‘New funds transfer’ from the drop down list
a. Select the account you’d like to transfer from in the ‘From account’ section
b. Select the account you’d like to transfer to in the ‘To account’ section
c. Fill in the amount, description and remitter name in the ‘Transaction details’ section
d. Select ‘Periodic transfer’ in the ‘Transfer schedule’ and select the cycle frequency*, first transfer date** and last transfer date
Select ‘Next’
Check the details of the funds transfer and select ‘Submit’ 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.

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, 517KB)

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.