What you need to apply

  • Minimum deposit of $5,000.

  • Tax file number (TFN) to avoid withholding tax on the interest you earn.

Eligibility to apply online

  1. You're 14 years or older.

  2. You’re a permanent Australian resident.

  3. You're applying for a single or joint term deposit account.

  4. You’re an individual.

What to know before you apply

This product has a fixed term. If you think you’ll need immediate access to your money an ‘at call’ product might suit you better. However, you can access your money early by giving us 31 days notice.

If you access your funds before your term deposit matures, we’ll adjust the amount of interest you receive. This is called a prepayment cost. The prepayment cost applies even if you give us 31 days notice.

If you chose to reinvest your funds in a new term deposit after your original term deposit matures, a different interest rate may apply.

How to apply

Existing customers

If you’re already a customer you can apply for terms ranging from 30 days to five years using your NAB ID.

New to NAB?

If you’re a new NAB applicant or don’t have any active NAB accounts, you’re still eligible to apply for terms between 30 days and one year. You’ll need to provide at least one of the following forms of ID:

  • Australian passport
  • Foreign passport
  • Australian driver's licence
  • Medicare card (for applicants aged 18 and under) 

Need to deposit over $1,999,999 or want a term up to and including 2 years as a new to NAB client? Give us a call on 13 13 12 from Monday to Friday, 8:00am to 7:00pm (AEST/AEDT).

Ready to apply?

If you’ve checked you’re eligible to apply, have your documents ready, and have read the NAB Term Deposits Terms and Conditions, let's get started.

Apply now

Terms and Conditions

Any advice has been prepared without considering your objectives, financial situation or needs. Before acting on any advice, you should consider whether it is appropriate for your circumstances and view the NAB Term Deposit Terms and Conditions. Target Market Determinations for these products are available at nab.com.au/TMD. NAB products issued by NAB.

See our Term deposit indicator rates.