What you need 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.

Start your application

Are you a new or existing customer? If you’ve ever been a NAB customer, select Existing.

New

Eligibility criteria

Before you can apply, you need to meet the following criteria:

  1. You’re 14 years or older.

  2.  You’re an Australian resident for tax purposes.

  3. You have an Australian mobile number.

  4. Minimum deposit of $5,000.

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

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).

ID requirements

Verifying your ID

You’ll need a smartphone to scan your ID, and to take a selfie for verification.

If you’re not able to do this because you don’t have a smartphone or for any other reason, please call 13 22 65 or visit a branch.

If you’re applying for a joint account, the smartphone requirements don’t apply for you. You’ll be able to verify your ID on any device.

Acceptable forms of ID

To apply for this account, you’ll need at least one physical form of ID so we can verify your identity. However, if possible, please try and provide two forms of physical ID.

  • Australian passport

  • Foreign passport

  • Australian driver’s licence

  • Medicare card (can only be used in conjunction with another form of ID)

  • Birth certificate (for applicants aged 18 or under)

ID help for Aboriginal and Torres Strait Islander customers

If you're Aboriginal or Torres Strait Islander and you don't have any of the required forms of identification, please call our Indigenous Customer Service line on 1800 966 100 Monday to Friday, 8:00am to 7:00pm (AEST/AEDT) or visit your nearest NAB branch. 

If you’re under the age of 18, you’ll need two forms of ID to apply online. One of these can be your birth certificate.

Information for joint applicants

By completing this online joint account application, all account holders agree that each account holder may operate the account with direct access to the funds in the account.

When you apply for a joint account online, each account holder will have direct access to the funds in the account through digital channels like NAB Internet Banking and the NAB app, with a debit card or in a branch. This means each account holder can access the account individually to withdraw or deposit money separately from the other account holder.

If you want both account holders to jointly operate the account – meaning that both need to give permission for deposits and withdrawals – you’ll need to come into a branch to arrange this. Don’t apply online.

If your situation changes and you want to change how both people access the money, please visit a branch. There’s also information on operating a joint account to help you make the best choice for your circumstances.

You can only apply for a joint account in your browser, not via the NAB app.

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.

If you have an in-progress application for a NAB product, it will be automatically cancelled if you start a new application.

Get started

Existing

Eligibility criteria

Before you can apply, you need to meet the following criteria:

  1. You’re 14 years or older.

  2.  You’re an Australian resident for tax purposes.

  3. Minimum deposit of $5,000.

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

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

Information for joint applicants

By completing this online joint account application, all account holders agree that each account holder may operate the account with direct access to the funds in the account.

When you apply for a joint account online, each account holder will have direct access to the funds in the account through digital channels like NAB Internet Banking and the NAB app, with a debit card or in a branch. This means each account holder can access the account individually to withdraw or deposit money separately from the other account holder.

If you want both account holders to jointly operate the account – meaning that both need to give permission for deposits and withdrawals – you’ll need to come into a branch to arrange this. Don’t apply online.

If your situation changes and you want to change how both people access the money, please visit a branch. There’s also information on operating a joint account to help you make the best choice for your circumstances.

You can only apply for a joint account in your browser, not via the NAB app.

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.

Get started

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.