Here’s what you get
No fees or minimum deposits
No monthly account fee and no minimum monthly deposits.
Interest on every dollar
Earn interest daily on your account balance and receive tiered interest to maximise the return on your balance.
No ATM fees
Withdraw money at over 4,000 ATMs across Australia for no cost.
Secure and convenient
Be digital-ready with NAB Internet Banking, the NAB app and digital wallets.
Spend with confidence
Use your NAB Visa Debit card for all your everyday spending, backed by NAB Defence, Visa Zero Liability and complementary protection insurance.
Security first
Enjoy peace of mind knowing that you can call us 24/7 if you think your account has been compromised.
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.
Fees and charges
A low fee account to help you save in your retirement.
Monthly account fee
$ 0
Keep extra cash in your account to maximise interest.
ATM fee
$ 0
No ATM fee at over 4,000 ATMs across Australia.
Australian transaction fee
$ 0
International transaction fee applies.
Overdrawn fee
$ 0
If you happen to overdraw on your account. Debit interest may apply to overdrawn amounts.
Other fees and charges may apply. See our guide to fees and charges.
Ready to apply?
Check your eligibility and apply online in less than five minutes.
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You must be over 55 years old, retired and an Australian resident for tax purposes.
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If you’re new to NAB, have your Australian driver’s licence, Australian passport or International passport handy.
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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 can open a NAB Retirement Account by calling us on 13 22 65 or visiting a NAB branch.
Keep your finger on the pulse with the NAB app
Here are just a few things that make banking with us online easier.
Other bank accounts to consider
Savings accounts
Whatever you're saving for, our savings accounts can help get you there sooner.
NAB Term Deposit
With a competitive interest rate for a term that suits you, our term deposits can help you reach your savings goals.
NAB Classic Banking account
However you bank, you’ll pay no monthly account fee. Spend more on what’s important to you.
Help and support
Guides and support services to help you manage your banking.
Get in touch
Visit a NAB branch
Visit your nearest NAB branch to speak to us in person.
Important Information
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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.
Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries.
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.
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.