NAB Term Deposit benefits

A Term Deposit helps you reach your savings goals by offering a higher interest rate and a range of fixed terms to choose from.

Choose a fixed term to suit your needs

Get competitive, fixed interest rates based on the term you choose (available from 30 days to five years).

No monthly account and application fees

With no application or monthly account fees, all your savings get put to good use.

Reinvest your Term Deposit via the NAB app

We’ve made it quick and easy for you to renew, with no need to visit a branch.

Compare Term Deposit rates

These tables show the fixed term rates for deposits of between $5,000 (the minimum opening balance) and $1,999,999. Interest is calculated daily and paid as shown in the tables.

Terms up to 12 months

Fixed term Interest rate Interest paid
30 days 0.05% At maturity
60 days 0.05% At maturity
90 days 0.07% At maturity
4 months 0.08% At maturity
5 months 0.10% At maturity
6 months 0.15% At maturity
7 months 0.15% At maturity
8 months 0.15% At maturity
9 months 0.20% At maturity
10 months 0.25% At maturity
11 months 0.25% At maturity
12 months 0.25% At maturity

Terms over 12 months

Fixed term Interest rate Interest paid
12 months 0.25% Monthly, quarterly, half-yearly or annually
24 months 0.30% Monthly, quarterly, half-yearly or annually
36 months 0.30% Monthly, quarterly, half-yearly or annually
48 months 0.30% Monthly, quarterly, half-yearly or annually
60 months 0.30% Monthly, quarterly, half-yearly or annually

For Term Deposits equal to or greater than $2 million please visit a NAB branch.

Learn more about managing your Term Deposit

Applying is easier using internet banking

If you’re an existing customer, you can apply for amounts up to $250,000 (with terms of 30 days to five years) using NAB Internet Banking. By logging in, you'll save time because your personal details are pre-filled.

  1. Log into NAB Internet Banking, opens in new window.

  2. Select 'Products' under the Products menu.

  3. Select 'NAB Term Deposit'.

What to know before you apply

What you’ll need

  • A minimum deposit of $5,000.

  • Your tax file number (TFN) to avoid withholding tax on the interest you earn.

  • If you’re new to NAB, you’ll need to provide identification either online or in branch.

Check your eligibility

  • 14 years or older.

  • You're a permanent Australian resident.

  • You're applying for a single or joint deposit account.

BPAY® details

We’ll give you the Biller Code and your Customer Reference Number when you apply. You may be charged a fee to transfer the funds by your institution and there may be a payment limit. There are no limits on BPAY® transactions if you pay from your NAB account and have SMS Security.

Ready to apply?

Start your savings plan today. Applying online only takes about 10 minutes. If you're not eligible to apply online, visit a branch.

Apply

Help and support

Here are some tips and guides to help you save and manage your Term Deposit account more easily.

More help and support

Use our helpful guides, FAQs and support services to help manage all of your banking more easily.

View our help and support hub

Other accounts to consider

Looking for some other savings account options to go with your Term Deposit?

NAB Reward Saver

Grow your savings faster with a higher interest rate, if you're a motivated saver.

NAB iSaver

Enjoy flexibility with your savings while still earning interest. Receive the fixed bonus margin for the first four months on your first new account for balances up to $20m.

Cash management account

The NAB Cash Manager is the ideal cash management account to manage cashflow for investments such as self-managed super funds, shares and property.

Contact us

Visit a NAB branch

Visit your nearest NAB branch to speak to us in person.

Find a branch

Call us

Let us help you with your personal banking needs.

Contact numbers

Terms and Conditions

NAB recommends you consider the Terms and Conditions or other disclosure document, available from NAB, before making any decisions regarding these product. These products are issued by National Australia Bank Limited ABN 12 004 044 937.

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

NAB Term Deposits Terms and Conditions

Indicator rates - selected term deposit products