NAB Retirement Account features

Here's what you get with a NAB Retirement Account and what you'll need to apply.

Key features

  • No monthly account fees and no minimum monthly deposits.

  • Earn interest daily on your account balance.

  • No ATM withdrawal fees at over 4,000 ATMs across Australia.

  • A NAB Visa Debit card for all your everyday spending.

Additional features

Secure and convenient banking

Be digital-ready with NAB Internet Banking, the NAB app and digital wallets.

Easy access to your money

Pay instore or online, make fast payments and transfers and withdraw your money from ATMs.

Earn interest on every dollar

Receive tiered interest to maximise the return on your balance.

Fees and charges

A low fee account to help you save in your retirement.

Monthly account fees

$ 0

Keep extra cash in your account to maximise interest.

Withdrawal fees

$ 0

No fee at over 4,000 ATMs across Australia.

Transaction fees

$ 0

Within Australia.

Overdrawn fees

$ 0

If you happen to overdraw your account.

Debit interest may apply to overdrawn amounts. Learn more about our personal account default rates.

Ready to apply?

Check your eligibility and apply online in less than five minutes.

  1. You must be over 55 years old, retired and an Australian resident for tax purposes.

  2. If you're new to NAB, have your passport, driver's licence or Medicare card handy.

  3. You must be an individual (not a joint applicant). 

Note: If you're not over 55 and retired, but receive a Government pension or allowance, you'll need to visit a NAB branch to open an account. Bring your passport or driver's licence and proof that you’re a government concession card holder, such as a utility bill).

How you'll earn interest

Interest is calculated daily and paid quarterly. You’ll receive a different interest rate for the portion of your credit balance that falls within each tier.

The daily interest amount for the last banking day of a quarter will be included in the amount paid to you in the following quarter.

Keep your finger on the pulse with the NAB app

Here are just a few things that make banking with us online easier.

  • Block and unblock your card.

  • Tap and pay for purchases.

  • Check your balances on the go.

  • Login faster with your biometrics.

Other bank accounts to consider

Get in touch

Visit a NAB branch

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

Important Information

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 Products Terms and Conditions (PDF, 627KB), opens in new window. Target Market Determinations for NAB products are available at NAB products issued by NAB.

See our personal banking fees and charges and indicator rates for deposit products.

NAB Internet Banking and NAB app

These products are issued by National Australia Bank Limited.

NAB recommends you consider the NAB Internet Banking terms and conditions document, before making any decisions regarding this product.

The NAB app is compatible with Android™ and iOS, minimum platform requirements apply. Apple, iPhone, iPad, Touch ID and the Apple logo are trademarks of Apple Inc., registered in the U.S and other countries. App Store is a service mark of Apple Inc. Google and the Google Logo are registered trademarks of Google Inc. © 2012 Google Inc.

Closing Your Account

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.