Open a bank account as a concession card holder - NAB
Features for concession card holders
No overdrawn interest
Avoid fees and interest on overdrawn amounts. Just let us know you have a concession card and choose to prevent your account becoming overdrawn when you apply.
$0 monthly account fee
Enjoy no monthly account fee on our transaction and savings accounts.
Fraud protection
Fraud protection and online security so you can enjoy peace of mind with all your purchases.
Explore bank accounts
Transaction accounts
| Monthly account fee | $0 |
|---|---|
| Overdrawn fee Debit interest may apply to overdrawn amounts if you do not opt to prevent overdraw on your account. | $0 |
Other fees and charges may apply.
Features
Are you eligible?
- 14+ (if you’re under 14, visit a branch with your parent or guardian)
- an Australian resident for tax purposes
Plus, hold one of these cards:
- Health Care Card
- Commonwealth Seniors Health Card
- Pensioner Concession Card
| Monthly account fee | $0 |
|---|---|
Interest rate | 0.15% - 1.60% p.a |
Other fees and charges may apply.
Features
Are you eligible?
To apply online you must be:
- 55+
- Retired, or receiving a government pension/allowance
- an Australian resident for tax purposes.
Plus, hold one of these cards:
- Health Care Card
- Commonwealth Seniors Health Card
- Pensioner Concession Card
Under 55 with a pension or allowance?
You may still be eligible. Visit your nearest branch or call us on 13 22 65 to chat about your options.
Savings accounts
Easily access your money with an online savings account linked to your NAB transaction account.
Introductory rate for 4 months | 4.45% p.a. |
|---|---|
Standard variable rate At a minimum, you'll get this rate (subject to change). | 1.25% p.a. |
Fixed bonus margin We’ll add this bonus rate for the first four months if you have not held a NAB iSaver account in the last 12 months (on balances up to $20 million). | 3.20% p.a. |
Features
Are you eligible?
To apply online you must be:
- 14+ (if you’re under 14, visit a branch with your parent or guardian)
- an Australian resident for tax purposes
Grow your savings faster with bonus interest for regular deposits and no withdrawals.
Total interest rate The total rate (variable base rate + variable bonus rate) you could earn if you meet the variable bonus rate conditions. View our indicator rates for deposit products for full details. | 4.15% p.a. |
|---|---|
Variable base rate At a minimum, you'll get this rate (subject to change). | 0.01% p.a. |
Variable bonus rate We’ll add this bonus rate if you make at least one deposit on or before the second last banking day of the month and no withdrawals during the month. | 4.14% p.a. |
Features
Are you eligible?
To apply online you must be:
- 14+ (if you’re under 14, visit a branch with your parent or guardian)
- an Australian resident for tax purposes
Need a tool to help you narrow it down?
Choosing the right account for you can feel complicated. Use our comparison tool to explore your options.
How to apply
Step 1
Check your eligibility
Choose the account you want to apply for and confirm that you hold the right concession card to apply.
You also need to make sure you meet age and residency requirements.
Step 2
Bring your ID
New to NAB? You’ll need one form of ID:
- Passport (Australian or foreign)
- Australian driver’s licence
- Medicare card (this can only be used in conjunction with another form of ID if you’re 18 or older)
- Birth certificate (for applicants aged 18 or under)
Already with NAB? Have your NAB ID and password ready to login and apply.
Step 3
Choose how to apply
- Online: Choose the account you want to apply for and select Apply now.
- In-person: Find your nearest branch
- By phone: Call 13 22 65
Seamless banking at your fingertips
The NAB app thinks about money, so that you don't have to.
More information for concession card holders
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To help prevent your account being overdrawn, make sure you let us know you have a concession card during the application process.
If you miss telling us when you’re opening your account, call us on 13 22 65.
Please note that overdrawn preferences don't apply to our savings accounts, but they do apply to any NAB transaction account linked to your NAB savings account.
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None of our transaction or savings accounts charge a monthly account fee. If you choose to link a Platinum Visa Debit card to your account, you'll be charged a $10 monthly card fee. International transaction fees may apply on some purchases. See our guide to fees and charges.
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You can withdraw cash without paying a withdrawal fee at 4,000 NAB ATMs across Australia. Use our locations tool to find your nearest ATM.
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Yes - if one of the account holders has a concession card, let us know during the application process so we can apply overdrawn preferences to your joint account.
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You don’t need to do anything else after you’ve told us you have a concession card. We’ll continue to apply concession benefits to your account if Services Australia sends you a new concession card.
Tools and support
What is overdraw and how to avoid it?
Our article explains what happens if you overdraw your NAB personal transaction or savings account and offers simple tips to avoid it in the future.
Budgeting and saving
Learn how to budget. We can help you achieve your financial goal faster, whether it's for a deposit, travel or other.
Managing your money
Need help budgeting, managing your debts or paying off your home loan sooner? We’ve got some tips and guides to help.
Terms and Conditions
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Any advice has been prepared without considering your objectives, financial situation or needs. Before acting on any advice, you should consider whether it is appropriate for your circumstances and view the Personal Transaction and Savings Accounts Terms and Conditions. Target Market Determinations for these products are available at nab.com.au/TMD. NAB products issued by NAB.
See our personal banking fees and charges and indicator rates for deposit products.
The quickest and easiest way to close your account is through NAB Messaging in Internet Banking or the NAB app.
If you need further support, please find your closest branch or give us a call on 13 22 65 or +61 3 8641 9083 if you’re overseas.