NAB

NAB savings and bank accounts

NAB offers 2 different bonus savings accounts and several different bank account to suit a range of customers.

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National Australia Bank (NAB) is one of Australia's Big Four banks. Take a look at the different NAB savings accounts and bank accounts in the table below to find the right one for you.

Promoted
Bank account offer
NAB Classic Banking
Promoted
$0
monthly fee
$0
ATM withdrawal fee
  • Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay
  • Monthly fees: $0

NAB Classic Banking

Enjoy convenient, unlimited access to your money. $0 monthly account fee. Temporarily block your card at the touch of a button if you lose it.
Enjoy convenient, unlimited access to your money. $0 monthly account fee. Temporarily block your card at the touch of a button if you lose it.

NAB savings accounts, transaction accounts and term deposits

Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly account fee
NAB Classic Banking
Visa
$0
$0
$0
Enjoy convenient, unlimited access to your money.
$0 monthly account fee.

Tap and pay with your NAB Visa Debit card or your phone using Apple Pay, Google Pay, Samsung Pay or NAB Pay for Android. Temporarily block your card at the touch of a button if you lose it.
NAB Business Everyday Account ($0 Monthly Fee Option)
Visa
$0
$0
$0
$0 monthly account-keeping fee.
Unlimited standard electronic transactions.
Sign up for a NAB Business Transaction Account and enjoy free digital transactions, no monthly fees, and a linked NAB Visa Debit card at no cost.

NAB Business Everyday Account ($10 Monthly Fee Option)
Visa
$0
$0
$10
Make unlimited online and staff-assisted transactions for one flat monthly fee.
Enjoy dedicated support from NAB Business bankers available seven days a week.
NAB Classic Banking with Platinum Visa Debit Card
Visa
$0
$0
$10
$10 cashback on contactless purchases, $0 foreign transaction fee and complimentary travel insurance.
$10 monthly account fee.
Receive $10 cashback when you spend $1000 on contactless purchases. Complimentary travel insurance, transport accident insurance, purchase protection insurance and more when you meet eligibility criteria.
NAB Business Interest Account ($10 Monthly Fee)
Visa
$0
$0
$10
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
NAB iSaver
0.35%
0.05%
0.3%
$0
Introductory rate of 0.35% p.a. for 4 months, reverting to a rate of 0.05% p.a. Available on balances up to $20,000,000.
NAB Cash Manager
0.05%
0.05%
0%
$0
Ongoing, variable 0.05% p.a. Available on the entire balance.
NAB Business Cash Maximiser
0.01%
0.01%
0%
$0
Earn a competitive interest rate on balances $10,000 or more
NAB Reward Saver
0.3%
0.01%
0.29%
$0
Ongoing, variable 0.3% p.a. when you make at least one deposit by the second last banking day of the month and make no withdrawals. Available on the entire balance.
NAB Retirement Account
0.36%
0.36%
0%
$0
A retirement account with easy access to your money.
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Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
NAB Term Deposit
0.10%
0.10%
0.10%
0.20%
0.20%
0.25%
0.30%
Invest your money in a NAB Term Deposit and earn a fixed interest rate for the life of the term, with no setup or account fees.
This term deposit is for personal customers with deposits from $5,000.
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Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly account fee
NAB Classic Banking
Visa
$0
$0
$0
Enjoy convenient, unlimited access to your money.
$0 monthly account fee.

Tap and pay with your NAB Visa Debit card or your phone using Apple Pay, Google Pay, Samsung Pay or NAB Pay for Android. Temporarily block your card at the touch of a button if you lose it.
NAB Business Everyday Account ($0 Monthly Fee Option)
Visa
$0
$0
$0
$0 monthly account-keeping fee.
Unlimited standard electronic transactions.
Sign up for a NAB Business Transaction Account and enjoy free digital transactions, no monthly fees, and a linked NAB Visa Debit card at no cost.

NAB Business Everyday Account ($10 Monthly Fee Option)
Visa
$0
$0
$10
Make unlimited online and staff-assisted transactions for one flat monthly fee.
Enjoy dedicated support from NAB Business bankers available seven days a week.
NAB Classic Banking with Platinum Visa Debit Card
Visa
$0
$0
$10
$10 cashback on contactless purchases, $0 foreign transaction fee and complimentary travel insurance.
$10 monthly account fee.
Receive $10 cashback when you spend $1000 on contactless purchases. Complimentary travel insurance, transport accident insurance, purchase protection insurance and more when you meet eligibility criteria.
NAB Business Interest Account ($10 Monthly Fee)
Visa
$0
$0
$10
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
NAB iSaver
0.35%
0.05%
0.3%
$0
Introductory rate of 0.35% p.a. for 4 months, reverting to a rate of 0.05% p.a. Available on balances up to $20,000,000.
NAB Cash Manager
0.05%
0.05%
0%
$0
Ongoing, variable 0.05% p.a. Available on the entire balance.
NAB Business Cash Maximiser
0.01%
0.01%
0%
$0
Earn a competitive interest rate on balances $10,000 or more
NAB Reward Saver
0.3%
0.01%
0.29%
$0
Ongoing, variable 0.3% p.a. when you make at least one deposit by the second last banking day of the month and make no withdrawals. Available on the entire balance.
NAB Retirement Account
0.36%
0.36%
0%
$0
A retirement account with easy access to your money.
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Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
NAB Term Deposit
0.10%
0.10%
0.10%
0.20%
0.20%
0.25%
0.30%
Invest your money in a NAB Term Deposit and earn a fixed interest rate for the life of the term, with no setup or account fees.
This term deposit is for personal customers with deposits from $5,000.
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Rates accurate as at: October 16th, 2021 Learn about our information service

Quick facts about NAB

  • National Australia Bank (NAB) is one of four leading financial institutions in Australia known as the Big Four banks.
  • Its main competitors are Westpac, ANZ and CommBank which, along with NAB, make up the Big Four.
  • NAB has more than 12 million customers around the world.
  • When you deposit up to $250,000 in a NAB deposit account, your money is protected as a part of the Australian government guarantee.
  • NAB is Australia's largest business bank and a popular choice for small and medium Australian businesses.
  • NAB is the only Big Four bank that doesn't charge account-keeping fees on its transaction account.
  • NAB owns UBank and digital bank 86 400.

Different accounts offered by NAB

Being one of the biggest banks in Australia, NAB offers a large variety of bank and savings accounts, which are listed in the tables above. Here's a brief overview of the main personal accounts offered by NAB. If you're after a retirement or business specific account, take a look at the table of accounts above.

NAB Classic Banking

This is NAB's main everyday transaction account. It has no monthly account-keeping fee and no monthly deposit conditions to meet to avoid the fee either. It comes with a Visa debit card for easy access to your money.

Read our full review of the NAB Classic Banking Account.

NAB Classic Banking with Platinum Visa Debit card

This is the same account as the Classic Banking account, but it comes with a Platinum Visa Debit Card instead of a standard debit card. This account has a $10 monthly account fee; however, it also has extra perks and benefits including no international transaction fees and cashback on contactless purchases.

Read our full review of the NAB Classic Banking with Platinum Visa Debit Card.

NAB Reward Saver

Earn bonus interest on your savings balance when you make at least 1 deposit each month without making any withdrawals. This is an account that is free from any monthly fees, yet awards you with unlimited access to your money. It currently offers a total bonus rate of 0.3%.

Read our full review of the NAB Reward Saver Account.

NAB iSaver

This is an online savings account with an introductory bonus rate of 0.35% for the first 4 months with no conditions to meet. After the introductory period is up, this rate will drop to the base rate.

Read our full review of the NAB iSaver Account.

NAB Term Deposit

The NAB Term Deposit offers fixed term lengths from 7 days to 5 years, with a fixed interest rate for the duration of the term length. Your initial investment must be at least $5,000 and the interest is calculated on a daily basis with your choice of receiving it monthly, quarterly, bi-annually or annually.

Read our full review of the NAB Term Deposit.

Different ways to bank with NAB

NAB offers many different ways to do your banking.

Bank branches

NAB has more than 1,000 bank branches across Australia, with 40+ in Brisbane, 80+ in Sydney and 100+ in Melbourne. Customers can go into a NAB branch for general day-to-day banking, to deposit cash or cheques, to open or close accounts or to get help and assistance. UBank customers can also use NAB branches, as UBank has no branches of its own.

ATM network

There are more than 4,000 NAB ATMs around Australia. NAB has been reducing its ATM network for the past few years, as more people turn to online banking instead of cash. In 2019, NAB closed down almost 2,000 ATMs across Australia. At eligible NAB ATMs, you can deposit cash and cheques as well as make standard withdrawals. NAB also offers some contactless ATMs, which allow customers to withdraw cash using their phone instead of their debit card.

Bank@Post

If you need to deposit cash into your account, you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.

NAB Internet and mobile banking

NAB Internet banking allows you to review transactions and balances, pay bills, transfer money between accounts, make BPAY payments, view and download statements or open new NAB accounts. You can also temporarily block your account or your debit card if you've misplaced it. NAB Defence is NAB's online security system, which will monitor your transactions for any that seem suspicious.

The NAB app is available for free on the Google Play or App Store. You can check your balance, set up your PayID for instant transfers, transfer between accounts or Pay Anyone, and block your card if needed.

Contactless payment options

NAB offers Apple Pay, Google Pay and Samsung Pay to customers with a NAB debit card. This means you can use your phone (or any compatible device) to make contactless payments for everyday items, instead of using your physical debit card.

Pros and cons of banking with NAB

Pros

  • Bank account with no fees. NAB is the only Big Four bank to offer a transaction account with no monthly account-keeping fee.
  • Variety of account types. NAB offers a few different bank account options and savings account options, instead of just the one.
  • Platinum Visa debit card. You have the choice of upgrading to a Platinum Visa Debit Card, which offers extra perks like no international transaction fees and cashback offers.
  • Contactless payments using your phone. NAB offers Apple Pay, Samsung Pay and Google Pay.
  • Bank branches and ATMs. NAB has lots of branches and ATMs across the county, so you shouldn't struggle to find a bank branch or ATM when you need one.

Negatives

  • Less competitive. NAB's savings account rates are less competitive than others in the market.
  • Fewer app features. The NAB App has fewer digital saving and budgeting features compared to other banks.

How to apply for a NAB account online

You can apply for a new NAB account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.

Eligibility

  • You're over 18 years old
  • You're an Australian resident for tax purposes
  • You have an Australian phone number and residential address

Documentation

  • Personal details like your name, date of birth, residential address, phone number and email address
  • ID documents such as your driver's licence, Medicare card, passport or proof-of-age card

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

More guides on Finder

  • NAB Classic Banking with Platinum Visa Debit Card

    The Nab Platinum Visa debit card is packed with premium features, such as cashback offers and access to the NAB Concierge Service.

  • NAB Retirement Account

    Make the most your fixed retirement funds by using them through an account that won't charge you any fees.

  • NAB Cash Manager

    The Cash Manager is a no fee interest bearing interim investment account for SMSFs, trusts and personal applicants.

  • NAB term deposit

    With NAB, you are given an opportunity to actively grow your savings using terms that meet your needs.

  • NAB iSaver Account Review

    The NAB iSaver is a simple way to manage your savings without worry. Sign on now and get the added benefit of an introductory bonus rate.

  • NAB Reward Saver account

    You'll get an incentive to save with bonus interest from the NAB Reward Saver account.

  • NAB Classic Banking Transaction Account

    With simplicity and no account fees, you are able to manage your every purchases and cash withdrawals.

Ask an Expert

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12 Responses

    Default Gravatar
    TrudiApril 29, 2017

    I have two investments coming due. $20,000 and $200,000 what is the best interest rate you can offer.

      Avatarfinder Customer Care
      DeeApril 30, 2017Staff

      Hi Trudi,

      Thanks for reaching out.

      The interest rate that you can get depends on the type of account you want to get.

      If you are looking for a high-interest savings account, you can compare high-interest savings accounts on our website.

      You can earn up to 3.05% p.a. subject to certain conditions and eligibility criteria. You can take advantage of the savings calculator on top of the page to see which account can give you the highest earned interest for a particular time period.

      Alternatively, you may also consider getting a term deposit account. You may also use the term deposit calculator on the page to see which account can give you the highest earned interest for a specific time period.

      Cheers,
      Anndy

    Default Gravatar
    SenolApril 28, 2017

    Why can’t I transfer money between my classic account and my personal accounts through my internet banking which I just set up. Also why can’t I pay a bill with my classic account online

      Default Gravatar
      LiezlApril 29, 2017

      Hi Senol,

      Thank you for your question.

      If you have recently set up your NAB internet banking, please make sure that you have linked your classic, personal, and credit card accounts to your internet banking profile.

      Kindly note that in order to pay NAB Credit cards not linked to your internet banking profile, or credit cards at other financial institutions, you must use BPAY (accessed via the BILL payment function). You may also refer to our guide on paying your NAB credit card. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered on your transactions.

      I hope this helps.

      Best regards,
      Liezl

    Default Gravatar
    GuenMarch 29, 2017

    Hi NAB/finder.com team,

    I need help please.
    1. How to close/delete some of my NAB bank accounts that already created?
    2. About NAB Reward Saver, is there any minimum amount has to be deposited each month after the first month deposit?
    3. How do you count the bonus interest?

    Thank you

      Avatarfinder Customer Care
      DeeMarch 29, 2017Staff

      Hi Guen,

      Thanks for your question.

      You need to visit a NAB branch to close an account.

      For NAB Reward Saver, you’ll receive up to 2.55% p.a. (standard rate plus bonus rate) when you make at least one deposit of any amount and no withdrawals for the month.

      Cheers,
      Anndy

    Default Gravatar
    EdauFebruary 18, 2017

    Deposits more than 5 times to my rewards savers but never withdraw will I’ll be able to earn interests?

      Avatarfinder Customer Care
      DeeFebruary 22, 2017Staff

      Hi Edau,

      Thanks for your question.

      For NAB Reward Saver, you’ll get the bonus interest rate when you make at least one deposit and no withdrawals in the month.

      Since you deposited into your account and did not make any withdrawals, you’ll be eligible to receive the 2.70% p.a. interest rate.

      Cheers,
      Anndy

    Default Gravatar
    RomeiJanuary 29, 2017

    I need to find an account that does not charge international withdrawal fees. Any suggestions, please.

      Avatarfinder Customer Care
      JasonJanuary 29, 2017Staff

      Hi Romei,

      Thank you for your enquiry.

      Please check out linked debit cards that offer no overseas ATM withdrawal fees.

      I hope this helps.

      Kind regards,
      Jason

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