Term deposits are a type of savings account that lets you invest funds for a specific term at a fixed interest rate. Interest is calculated daily and paid at maturity (for terms up to 12 months), or monthly, quarterly, half-yearly or annually (for terms over 12 months).
A NAB Term Deposit helps you reach your savings goals by offering a higher interest rate and a range of fixed terms to choose from.
Get competitive, fixed interest rates based on the term you choose (available from 30 days to five years).
We’ve made it quick and easy for you to renew, with no need to visit a branch. Learn how to manage your rollover.
These tables show the fixed term rates for deposits of between $5,000 (the minimum opening balance) and $1,999,999. Interest is calculated daily and paid as shown in the tables.
Terms up to 12 months Terms over 12 monthsFor term deposits equal to or greater than $2 million please call us on 13 13 12 from Monday to Friday, 8:00am to 7:00pm (AEST/AEDT) . Or visit a NAB branch. Please note that terms greater than 2 years, for new NAB Term Deposits, are only available through our online application form for individual customers. You may only rollover an existing term deposit, for a term greater than 2 years, using the self-serve channel on Internet Banking or the NAB App, subject to eligibility. Opening or rolling over a term deposit, for a term greater than 2 years, is not available in branch or via phone.
If the term is less than 12 months, you’re not required to select an account for interest accrual. We’ll pay interest into your term deposit account at maturity.
This product has a fixed term. However, you can access your money early by giving us 31 days’ notice, which may incur a prepayment cost. Find out more in our terms and conditions.
If you think you’ll need quick access to your money, then compare our savings accounts now.
We’ll give you the Biller Code and your Customer Reference Number when you apply. You may be charged a fee to transfer the funds by your institution and there may be a payment limit. There is a $500,000 limit for BPAY transactions if you pay from your NAB account and have SMS Security, and may need to make multiple payments if the Term Deposit balance exceeds $500,000. Processing times may apply.
Start your savings plan today. Applying online only takes about 10 minutes. If you're not eligible to apply online, call us on 13 13 12 from Monday to Friday, 8:00am to 7:00pm (AEST/AEDT) . Or visit a NAB branch.
Your business deserves the best. Discover Term deposits for business banking.
The end of your fixed term is known as 'maturity'. If your term length is greater than 28 days, two weeks before maturity you’ll receive a letter via your nominated communication channel notifying you that your term deposit is due to mature. Here are some options to explore when your term deposit reaches maturity.
Reinvest the funds in a new term deposit (either with the interest included, or after the interest is paid to you). It’s quick and easy to roll over and even add funds to your term deposit at maturity using NAB Internet Banking or the NAB app.
To withdraw money from your term deposit before the end of its term, you'll need to give us 31 days’ notice – unless you’re experiencing hardship. Accessing your funds before maturity will incur a prepayment cost, which is outlined in our terms and conditions.
Withdraw all or part of your funds after the 31 days’ notice. For partial withdrawals, your balance must not go below $5,000.
If you haven’t provided maturity instructions for your term deposit, subject to the terms and conditions, it will be automatically reinvested for the same term at the interest rate applicable on the date of maturity. After reinvestment, you have seven calendar days to make changes or add/withdraw funds at no cost.
At any time before maturity, you can change/modify existing maturity instructions for your term deposit. To change your instructions, call 13 13 12 or complete our term deposit instructions form (PDF, 226KB) , opens in new window and return it to your nearest NAB branch.
Use our helpful guides and support services to help manage all of your banking more easily.
Looking for some other savings account options to go with your Term Deposit?
Grow your savings faster with a higher interest rate, if you're a motivated saver.
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.
The NAB Cash Manager is the ideal cash management account to manage cashflow for investments such as self-managed super funds, shares and property.
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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 NAB Term Deposit Terms and Conditions. Target Market Determinations for these products are available at nab.com.au/TMD. NAB products issued by NAB.
®BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.
NAB acknowledges the Traditional Owners of the land as Australia’s First Peoples and recognises their continuing connection to lands, water and country. We pay our respects to Elders past and present.
Any advice on our website has been prepared without considering your objectives, financial situation or needs. Before acting on any advice, consider whether it is appropriate for your circumstances and view the Product Disclosure Statement or Terms and Conditions available online or by contacting us. Credit applications are subject to credit assessment criteria. Interest rates, fees and charges are subject to change. Target Market Determinations for our products are available at nab.com.au/TMD. Products issued by NAB unless stated otherwise.
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