Before starting your application, make sure you meet our eligibility criteria.

A man working on a checklist

Check you’re eligible to apply online

  • I’m 18 years or older.
  • I’m a permanent Australian resident.
  • I’m applying for a single or joint term deposit account.

What you need to apply

  • Minimum deposit of $5,000.
  • Tax file number (TFN) to avoid withholding tax on the interest you earn.

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 not a NAB customer, you can still apply for terms between 30 days and one year.

Need to deposit over $499,999 or want a longer term? Give us a call on 13 13 12 from 8am to 7pm Monday to Friday, or 9am to 6pm on weekends (AEST/AEDT).

Feel like you’ve got everything covered?

Important information

NAB recommends you consider the Terms and Conditions or other disclosure document, available from NAB, before making any decisions regarding this product. This product is issued by National Australia Bank Ltd ABN 12 004 044 937.

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