NAB term deposit

- Interest rate 12 months interest rate
- Up to 5% p.a.
- Minimum opening deposit
- $5,000
- Account keeping fee
- $0
Summary
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.
Pros
-
$0 Account keeping fees
-
Wide ranges of terms from 7 days to 5 years
-
Linked account required from NAB or any other Australian financial institution
Cons
-
31 days advance notice required in case of withdrawing funds before maturity
-
Minimum investment of $5,000.
Details
Key details
Product Name | NAB Term Deposit |
3 month interest rate | 3.50% |
4 month interest rate | 3.60% |
6 month interest rate | 4.00% |
7 month interest rate | 4.00% |
9 month interest rate | 4.00% |
12 month interest rate | 5.00% |
24 month interest rate | 4.00% |
36 month interest rate | 4.00% |
48 month interest rate | 4.00% |
60 month interest rate | 4.00% |
Minimum Opening Deposit | $5,000 |
Minimum age requirement | 18 |
Government guarantee | Yes |
Eligibility
Minimum Age Requirement | 18 |
Joint account availability | Yes |
Min Deposit | $5,000 |
Available to children | Not available for children |
Your reviews
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Alison Banney Finder
February 22, 2023
Hi Denish,
No, you are not charged anything to compare products via Finder. Finder is a completely free service to use!
For terms above 12 months you can choose to receive your interest annually, bi-annually, quarterly, monthly or at maturity.
Thanks,
Alison

Jeff Goodall
October 20, 2022
Which Bank has the best interest rate of a Term deposit account.

Alison Banney Finder
February 23, 2023
Hi Jeff,
You can compare current term deposit rates here: https://www.finder.com.au/term-deposits
Thanks,
Alison

Jen
June 04, 2022
What are your current interest rates on term deposits of 6, 9, and 12 mths on $75,000

Alison Banney Finder
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

john
May 06, 2022
total interest on 60 day term deposit on $400.000 investment

Alison Banney Finder
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

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?

Alison Banney Finder
May 01, 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
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denish
December 29, 2022
Do I need to pay commission if I pay term deposit through finder? Are there options to payout monthly interest instead of waiting until maturity? Any other charges I should be aware of?