What you need to apply

  • Minimum deposit of $5,000.

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

Eligibility to apply online

  1. You're 14 years or older.

  2. You're an Australian resident for tax purposes.

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

What to know before you apply

  • This product has a fixed term. If you think you’ll need immediate access to your money, an ‘at call’ product might suit you better. However, you can access your money early by giving us 31 days notice.
  • If you access your funds before your term deposit matures, we’ll adjust the amount of interest you receive. This is called a prepayment cost. The prepayment cost applies even if you give us 31 days notice.
  • If you chose to reinvest your funds in a new term deposit after your original term deposit matures, a different interest rate may apply.

How to apply

Existing customers

If you’re already a customer, you can apply for terms ranging from 30 days to five years using your NAB ID.

New to NAB?

If you’re a new NAB Applicant, or don’t have any active NAB accounts, you’re still eligible to apply for terms between 30 days and one year. You’ll need to provide at least one of the following forms of ID:

  • Australian passport
  • Foreign passport
  • Australian driver's licence
  • Medicare card

Need to deposit over $1,999,999 or want a longer term? Give us a call on 13 13 12 from Monday to Friday, 8:00am to 7:00pm (AEST/AEDT) or Saturday to Sunday, 9:00am to 6:00pm (AEST/AEDT).

Ready to apply?

If you've checked you're eligible to apply, and have your documents ready, let's get started.

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.

The Target Market Determination for this product is available at nab.com.au/TMD.

NAB Term Deposits Terms and Conditions

Indicator rates - selected term deposit products