What you need to apply

  • Confirm your business is entitled to JobKeeper payments.

  • Have a valid Australian Business Number (ABN).

  • Provide us with your Australian Taxation Office (ATO) JobKeeper Application Receipt.

  • The business transaction account number you'll use to pay your employees from.

Are you an existing NAB Business customer seeking JobKeeper payment assistance?

Supporting Australian businesses

The Australian Government has announced a JobKeeper assistance payment to help keep more Australians in jobs. As part of the initiative, some businesses impacted by Coronavirus (COVID-19) will be able to continue paying their employees by accessing the wage subsidy from the government. This supports businesses and allows employees to keep being paid.

Who is entitled to the JobKeeper assistance payment?

The Government JobKeeper assistance payment enables eligible employers to be able to pay the salary or wages of their eligible employees.

In order to claim the JobKeeper assistance payment, employers will need to pay all eligible employees a minimum of $1,500 (before tax) per fortnight. This will be paid to the employer in arrears each month by the Australian Taxation Office (ATO).

This payment is open to:

  • eligible employees
  • sole traders
  • some other entities.

The first assistance payments for eligible employees will commence in the first week of May 2020, however you can claim for payments to be backdated from 30 March 2020.

For details of JobKeeper eligibility criteria and how to apply, please visit the ATO website. You should consider seeking independent advice about your eligibility.

NAB JobKeeper Overdraft

The Government’s first JobKeeper payments to eligible employees commenced in the first week of May 2020.

We understand that some businesses will require access to funds to pay employee salaries and wages while they wait to receive future JobKeeper payments. To support our business customers who are waiting to receive JobKeeper payments, NAB is offering approved business customers access to short term finance in the form of the NAB JobKeeper Overdraft.

The NAB JobKeeper Overdraft facility is subject to existing business customers being approved and meeting our eligibility and lending criteria.1

Approved business customers will have access to the NAB JobKeeper Overdraft until 31 October 2020. Other important details include:

  • A variable interest rate applies – currently 7.5% per annum.2
  • Interest is calculated daily on the outstanding balance and is charged to your account on the last business day of the month.
  • Approved customers must open a new NAB Business Everyday Account ($0 monthly fee) in order to access the NAB JobKeeper Overdraft.
  • No application or monthly account fees apply to the NAB Business Everyday Account ($0 monthly fee) and NAB JobKeeper Overdraft. Other fees may apply to the new NAB Business Everyday Account.3
  • You must repay the outstanding balance owing on your NAB JobKeeper Overdraft in full by 31 October 2020. If you fail to do so and your NAB JobKeeper Overdraft is cancelled, then overdrawn debit interest will be charged. This is in accordance with the new terms and conditions applicable to the NAB Business Everyday Account.
  • If for any reasons there’s a shortfall between the employee salaries and wages you pay, and the JobKeeper payments you receive, then you will remain liable for and must pay the outstanding balance in full.

The NAB JobKeeper Overdraft must be used only for these purposes:

  • to permanently repay any temporary excess granted to you by NAB to help you fund any initial liquidity shortfall resulting from timing differences between the time you pay staff salaries and wages to when you begin to receive JobKeeper payments
  • to help you fund any additional liquidity shortfalls resulting from any further timing differences between the time you pay staff salaries to when you receive the subsequent JobKeeper payments.

The NAB JobKeeper Overdraft cannot be used for any other purpose, including other working capital requirements such as rent, stock, to repay, restructure or refinance existing debt with NAB or another financier, or to purchase property/equipment.

If you have a question about how we’re providing support with JobKeeper assistance payments, you can get in touch on 1800 JOBKEEPER (1800 562 533) or fill in our NAB JobKeeper assistance enquiry form.

Read more about the JobKeeper payment or see the JobKeeper factsheet (PDF, 184KB) for more information.


If you have additional working capital requirements because your business has been detrimentally impacted by COVID-19, you may want to consider our NAB Business Support Loan.

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Important information

1 The NAB JobKeeper Overdraft is subject to NAB’s eligibility and lending criteria. Terms and conditions, and restrictions/exclusions apply. NAB reserves the right to withdraw the offer of the NAB JobKeeper Overdraft at any time.

NAB’s eligibility criteria include the following:

  • The NAB JobKeeper Overdraft is available to existing NAB Business and Private Banking customers whose business has been detrimentally impacted by COVID-19.
  • Applicants must have enrolled for the Government’s JobKeeper payment scheme and provide a copy of their Australian Taxation Office (ATO) JobKeeper application receipt.
  • Applicants must have an existing NAB business transaction account.
  • The business name and ABN on the ATO JobKeeper application receipt must match the trading entity that holds the existing NAB business transaction account.
  • Applicants must have been meeting their financial commitments, including repayments and any covenants or conditions with NAB or other financiers.

Restrictions/exclusions include the following:

  • JobKeeper assistance must not have been provided by other financiers.
  • Self-managed super funds are excluded.

2 Interest rate current as at 28 May 2020 and subject to change.

3 Find out more about the NAB Business Everyday Account ($0 monthly fee), and also see:

Business Banking Fees – A guide to fees and charges

NAB Business Products – Terms and conditions

Rates, fees and charges

This product is issued by National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB).