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NAB term deposit

NAB offers Australians a term deposit to suit any savings goal, whether it’s next week or five years down the road.

The flexible NAB Term Deposit allows you to earn a fixed rate of interest on your savings for the short and long term. You can use the interest earned to augment your income now, or choose to have it help grow your savings by having it added at maturity.

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Details

Product NameNAB Term Deposit
3 month interest rate0.15%
4 month interest rate0.20%
6 month interest rate0.30%
7 month interest rate0.40%
9 month interest rate0.50%
12 month interest rate2.25%
24 month interest rate1.00%
36 month interest rate1.60%
48 month interest rate1.80%
60 month interest rate2.00%
Minimum Opening Deposit$5,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

No fees

There are no monthly or establishment fees charged to you for this term deposit.

Tiered interest rates

The interest rates for a term deposit with NAB are fixed and competitive, growing in value as you choose longer terms. They also have special rates, or "blackboard specials" periodically, allowing you to lock in a better rate for the length of your term.

Launch term deposit calculator


How to apply

If NAB's term deposit offers the rates and benefits that you need to reach your savings goal, you can apply online in under 15 minutes. Before you access NAB's secure application page, ensure that you are eligible to apply for this account and have the necessary documents handy.

Eligibility

  • Minimum age. You must be 18 years or older to qualify for this term deposit.
  • Residency requirements. Both permanent and temporary residents are eligible to apply provided that they are able to show a valid Australian residential address.

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22 Comments

  1. Default Gravatar
    Jen
    June 4, 2022

    What are your current interest rates on term deposits of 6, 9, and 12 mths on $75,000

    • Avatarfinder Customer Care
      Alison
      June 20, 2022

      Hi Jen,

      Below are NAB’s term deposit rates for a $75,000 balance (as of 20 June 2022):

      6 months: 0.30% p.a.
      9 months: 0.50% p.a.
      12 months: 2.25% p.a.

      Thanks,
      Alison

  2. Default Gravatar
    john
    May 7, 2022

    total interest on 60 day term deposit on $400.000 investment

    • Avatarfinder Customer Care
      Alison
      May 13, 2022

      Hi John,

      NAB Term Deposit offers 0.05% p.a. for 60 day term. The interest is paid after the term matures.

      With a balance of $400,000 you’d earn $33.33 in interest.

      Higher rates are available for longer term lengths.

      Thanks,
      Alison

  3. Default Gravatar
    Jose
    March 16, 2022

    If I open this type of account for 6 months and I deposit 6,000. One month later, I want to deposit another 2,000. Will the total amount be available to withdraw once the 6 months of the first deposit is due?

    • Avatarfinder Customer Care
      Alison
      May 1, 2022

      Hi Jose,

      If you are referring to the NAB term deposit, I’m afraid you won’t be able to deposit additional money into the account. This is a term deposit that you can only add money at the start and wait for it to mature.

      If you wish to learn more, you can read our term deposit guide.
      I hope this helps.

      Regards,
      Joshua

  4. Default Gravatar
    Indika
    December 12, 2021

    If I deposit 5000$ in fixed deposit for 1 year by the time maturity how much I could get as total amount.?

    • Avatarfinder Customer Care
      Alison
      January 12, 2022

      Hi Indika,

      Currently, a NAB term deposit is offering a fixed interest rate of 0.25% p.a for 1 year. With a $5000 deposit, this would equal $12.50 in interest after 12 months. Interest is calculated daily and paid when your term deposit matures. For terms of 12 months or more, you can elect to have your interest paid monthly, quarterly, half-yearly, or annually.

      Thanks,
      Alison

  5. Default Gravatar
    Frank
    June 19, 2019

    Please advise interest rate for term deposit 4 months.

    • Avatarfinder Customer Care
      Jhez
      June 19, 2019

      Hi Frank,

      Thank you for your comment.

      According to our page, the 4-month interest rate for term deposit is 2.05%, and this is paid at maturity only.

      Regards,
      Jhezelyn

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