How to set up regular deposits

The benefits of regular deposits

Setting up a regular deposit into one of your savings accounts can not only help you stick to a savings plan, but it can also earn you bonus interest  eligible on some accounts like the NAB Reward Saver. Setting up a regular payment towards the beginning or middle of the month will ensure the deposit is received by the second-last banking day.

Regular deposits are similar to the 'set and go' function of a direct debit that you might set up to pay a bill. A set amount of your choosing will be automatically transferred between your accounts at a frequency of your choice. ( i.e fortnightly or monthly).

Set up a regular deposit using the NAB app

Follow these simple steps to set up your regular deposit using the NAB app.

1. Log into the NAB app.
2. Tap Transfer & pay.
3. Select the account you’d like to transfer from and tap Transfer.
4. Select the account you’d like to transfer to.
5. Enter the ‘Amount’ you’d like to transfer and tap Pay when.
6. Tap Recurring.
   • Tap Frequency and select ‘Weekly’, ‘Fortnightly’, ‘Monthly’ or ‘Quarterly’.
   • Tap Set start date and select your preferred date.
   • Select ‘until further notice’, ‘set end date’ or ‘number of payments’.
   • Tap Apply.
7. Tap Next.
8. Confirm all details are correct and tap Pay.
9. Payment Scheduled Confirmation screen will display.

Set up a regular deposit using NAB Internet Banking

1. Log into Internet Banking.
2. Select Transfer & Pay from the top menu.
3. Select Transfer.
   • Choose the account to transfer from and to, and the amount.
   • For the ‘When’ option, select Recurring and fill out the time details.
     
4. Select ‘Next’
5. Check the details of the funds transfer and select 'Confirm' to schedule the payment.