Compare different NAB accounts to suit your needs

Information verified correct on December 7th, 2016

NAB can help you reach your savings goals with flexibility.

National Australia Bank (NAB) is one of four leading financial institutions in Australia. Founded in Australia in 1893, NAB has now become an important part of the global banking industry, serving over 12 million customers around the world. When you deposit up to $250,000 in a NAB savings account, your money is protected as a part of the Australian Government guarantee.

Rates last updated December 7th, 2016
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
NAB Gold Banking
Enjoy unlimited access to your money with no service charge plus no fee for transactions in foreign currencies.
Visa $0 $5,000 No monthly account fees. Enjoy unlimited access to your money with no service charge plus no fee for transactions in foreign currencies. More
NAB Classic Banking
Tap and Pay with your Android Phone using NAB Pay.
No minimum deposit required.
Visa $0 $0 No monthly account fees, ever. Free use at over 3,400 NAB and RediATMs Australia wide and $0 overdrawn fees. More
NAB Personal Overdrafts
Whenever you need a little extra money now and then.
Visa $0 $0 No application fee but a bi-annual fee applies. More
NAB Retirement Account
A retirement account with easy access to your money.
Visa $0 $0 No monthly fees with no overdrawn fees and unlimited transactions at NAB or RediATMs. More
Rates last updated December 7th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
NAB Reward Saver
Ongoing, variable 2.70% p.a. when you link to NAB transaction account and deposit $200+ each month and make no withdrawals in the month . Available on balances up to $5,000,000.
2.70% 0.50% 2.20% $0 $0 / $0 More
NAB iSaver
Introductory rate of 1.90% p.a. for 4 months, reverting to a rate of 1.20% p.a. Available on balances below $1,000,000.
1.90% 1.20% 0.70% $0 $0 / $0 More
NAB Business Cash Maximiser
Earn a competitive interest rate when you maintain the minimum opening balance.
0.60% 0.60% $0 $0 / $10,000 More
NAB Cash Manager
Ongoing, variable 1.00% p.a.. Available on the entire balance.
1.00% 1.00% 0.00% $0 $0 / $5,000 More
Rates last updated December 7th, 2016
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
NAB Term Deposit
NAB Term Deposit
2.10% 1.75% 2.10% 2.40% 3.10% 3.20% 2.75% 2.80% $5,000 More
Rates last updated December 7th, 2016
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
NAB Gold Banking
Enjoy unlimited access to your money with no service charge plus no fee for transactions in foreign currencies.
Visa $0 $5,000 No monthly account fees. Enjoy unlimited access to your money with no service charge plus no fee for transactions in foreign currencies. More
NAB Classic Banking
Tap and Pay with your Android Phone using NAB Pay.
No minimum deposit required.
Visa $0 $0 No monthly account fees, ever. Free use at over 3,400 NAB and RediATMs Australia wide and $0 overdrawn fees. More
NAB Personal Overdrafts
Whenever you need a little extra money now and then.
Visa $0 $0 No application fee but a bi-annual fee applies. More
NAB Retirement Account
A retirement account with easy access to your money.
Visa $0 $0 No monthly fees with no overdrawn fees and unlimited transactions at NAB or RediATMs. More
Rates last updated December 7th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
NAB Reward Saver
Ongoing, variable 2.70% p.a. when you link to NAB transaction account and deposit $200+ each month and make no withdrawals in the month . Available on balances up to $5,000,000.
2.70% 0.50% 2.20% $0 $0 / $0 More
NAB iSaver
Introductory rate of 1.90% p.a. for 4 months, reverting to a rate of 1.20% p.a. Available on balances below $1,000,000.
1.90% 1.20% 0.70% $0 $0 / $0 More
NAB Business Cash Maximiser
Earn a competitive interest rate when you maintain the minimum opening balance.
0.60% 0.60% $0 $0 / $10,000 More
NAB Cash Manager
Ongoing, variable 1.00% p.a.. Available on the entire balance.
1.00% 1.00% 0.00% $0 $0 / $5,000 More
Rates last updated December 7th, 2016
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
NAB Term Deposit
NAB Term Deposit
2.10% 1.75% 2.10% 2.40% 3.10% 3.20% 2.75% 2.80% $5,000 More
Rates accurate as at: December 7th, 2016 Learn about our information service

About NAB

Whether you prefer to keep track of your savings online, or like to have branch access, NAB has a savings account designed for you. With competitive and bonus interest rates plus no monthly fees, you are given the opportunity to stockpile money for that rainy day purchase.

What about the mobile app?

Image Source: App Store
Login pageAccount balanceTransfers and overseas transfers
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What transaction accounts are offered by NAB?

  • NAB classic banking. A transaction account with no monthly minimum or fees that comes equipped with a Visa debit card for easy access to your money. If you qualify you can also add a personal overdraft for when you run short of money.
  • NAB retirement account. For Australians over the age of 55 you get the convenience of a transaction account with the applied interest of a savings account. Interest rates are tiered, providing you with a higher rate for higher account balances.
Can I get an overdraft facility with NAB?

You can apply for a limit from $500. If you don't have an overdraft set up on your account and wish to overspend, NAB can set up a temporary overdraft for your account, depending on your cash flow patterns. If the NAB system deems to be able to pay it back, then you may be able to use this facility and occasionally obtain a negative balance.

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What high interest savings accounts are offered by NAB?

  • NAB reward saver. Earn bonus interest on your savings balance when you make at least one 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.
  • NAB iSaver. This is an online account where you earn a competitive interest rate on the balance regardless of your transaction history. You benefit even more the first four months with a special introductory bonus rate on the entire balance up to $1 million.
  • NAB cash manager. The cash manager is ideal for personal or investment cash, offering a competitive interest rate. You will need at least $5,000 to open the account but once open there is no minimum balance to maintain.
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What term deposits are offered by NAB?

A term deposit is a commitment from you to not withdraw any savings until the time limit is reached. With NAB this can be anywhere from seven days to five years. The 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.

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What are the positives and negatives for banking with NAB?

Positives

  • Initial deposit. You can begin most of the NAB accounts with no minimum balance.
  • Fees. Take advantage of no fees to help towards building your savings.
  • Bonus interest. Boost your savings with an introductory bonus interest.
  • Visa debit card. Transaction accounts come with a free debit card that allows you to make purchases as if with cash.

Negatives

  • Restrictions. In some cases you will need to meet certain requirements in order to be eligible for bonus interest.
  • Linked account. You may be subjected to fees if you link your savings with a NAB Gold banking account.
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How do I apply for NAB savings accounts?

Australians who are 18 years of age or older can apply for NAB savings accounts online. It typically takes ten minutes to complete the application, or shorter if you already hold an account with NAB.

  • Identity verification. If you are new to NAB you will have to visit a branch once the application has been submitted to complete the 100 points of identification.
  • Other documentation. You may need to give NAB your tax file number (TFN) when you apply, and if you are a NAB customer, your NAB ID.
  • Residency. In order to qualify for a NAB savings account you will need to be an Australian permanent resident.

It is a good idea to compare savings accounts across different banks before making your final choice. This gives you a clearer picture of all the features and benefits that could help you with your saving needs.

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Read more on this topic

Savings Account Offers

Learn about our information service
ME Online Savings Account

Maximum Variable Rate

3.05%

Standard Variable Rate

1.30
ING DIRECT Savings Maximiser

Maximum Variable Rate

2.75%

Standard Variable Rate

1.60
Bankwest Hero Saver

Maximum Variable Rate

2.65%

Standard Variable Rate

0.01
RaboDirect High Interest Savings Account

Maximum Variable Rate

3.20%

Standard Variable Rate

2.05

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2 Responses to Compare different NAB accounts to suit your needs

  1. Default Gravatar
    PhillipFryer | March 18, 2016

    Who is the banking manager at the NAB in Thorn Street Ipswich Branch?

    • Staff
      Shirley | March 21, 2016

      Hi Philip,

      Thanks for your question.

      Unfortunately this information is not available to the public, we’d recommend that you speak to the branch directly.

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