With a NAB Term Deposit, you'll enjoy...

  • Competitive, fixed interest rates, based on the term you choose View disclaimer *

  • No monthly account fees or application fee

  • Having your interest paid monthly, quarterly or annually (if you invest for 12 months or more)

  • The ability to choose a term to suit your needs – from 30 days to five years

Ready to apply? You’ll need…

  • A minimum opening deposit of $5,000

  • To be at least 18 and a permanent Australian resident

  • To have your Tax File Number handy

Choose a term that works for you...

2.00 % p.a.

This option gives you a competitive rate, while offering the flexibility of a shorter term.

2.30 % p.a.

If you’re happy to lock it away for a bit longer, make your money work even harder for you.

2.40 % p.a.

12 month term

View disclaimer 1

Simply want to lock your money away for a year and forget about it? This is the rate you’ll get.

  • Monthly account fee

    $0

  • Application fee

    $0

The above rates are based on an investment of between $5,000 and $499,999

See all of our term deposit interest rates

WHAT TO EXPECT WHEN YOU APPLY

  • Step 1

    Apply online now – it takes less than 10 minutes

  • Step 2

    Once you’ve applied, you’ll receive a confirmation email from us

  • Step 3

    You then need to transfer funds via BPAY® to your new NAB Term Deposit within three business days

  • Step 4

    You’ll receive a lodgement letter, confirming the details of your NAB Term Deposit, within five to seven business days

  • Step 5

    If you’re new to NAB, you’ll also need to pop into your nearest NAB branch and complete a 100-point ID check

Goodbye, hassle

Hello, NAB app


Check your balances on the fly

We’ve done away with having to log in to the NAB app every time you need to check your account balances for iPhone and Android users. They’re now displayed on the login screen so you can view them quickly and easily

Have any questions?

Let's get you sorted

How will my interest be calculated and paid?

Interest is calculated daily and paid when your term deposit matures. For terms of 12 months or more, you can elect to have your interest paid monthly, quarterly, half-yearly or annually – whichever works best for you.

What if I need access to my funds before my term deposit matures?

You’ll need to give us at least 31 days’ notice – unless you’re experiencing hardship – which you can do by popping into your nearest NAB branch or giving us a call on 13 13 12 from 8am - 9pm Mon-Fri, or 9am - 6pm on weekends (AEST/AEDT). Just bear in mind that accessing your funds before maturity will incur a penalty cost, which is outlined in our Terms and Conditions.

What happens to my term deposit at maturity?

If you haven’t provided specific instructions for when your term deposit matures, it will automatically be reinvested for the same term at the interest rate applicable on the date of maturity. You have seven calendar days after your funds are reinvested to make any changes or add/withdraw funds at no cost.

I’m already a NAB customer. Can I apply through my NAB Internet Banking?

Yes, you can. We’ll simply open your NAB Term Deposit in the same name (or names) as the NAB account you deposit the money from.

I want to make a deposit over $250,000. What do I need to do?

If you'd like to apply for a higher term deposit amount please call us on 13 13 12 from 8am - 9pm Mon-Fri, or 9am - 6pm on weekends (AEST/AEDT). Or visit your nearest NAB branch.

What are the details I need to transfer my opening deposit via BPAY®?

We’ll give you the Biller Code and your Customer Reference Number when you submit your online application. Just be aware that the institution you’re transferring your funds from may charge a fee, and bear in mind any transfer limits you may have with the account you’re transferring from.

Still have questions?

Okay, no worries. Give us a call on 13 22 65

Other options to consider

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.

NAB Reward Saver

Grow your savings faster with bonus interest for regular deposits and no withdrawals.

NAB Classic Banking account

Meet your account for everyday transactions. Easy access to your money with no monthly account fees.

We're ready to help you

Talk to an expert
Call 13 22 65

Mon-Fri 8am - 7pm (AEST/ADST)
Sat-Sun 9am - 6pm (AEST/ADST)