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NAB

NAB term deposits

National Australia Bank, more commonly referred to as NAB, is one of the four largest banks in Australia. It has been operating for almost 160 years, with more than 30,000 people serving 9,000,000 customers at more than 900 locations in Australia, New Zealand and around the world. 

NAB provides a range of business and personal financial products, including loans, credit cards, personal loans, term deposits, transaction accounts and insurance.

Customers can contact NAB via:

  • Branch
  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Social media
Other available products
Content updated13 Oct, 2022
Product data updated

Important disclosure

Why choose NAB

Benefits

  • Customer service
  • Farm management term deposits

Drawbacks

  • Some lower-rate term deposits

NAB Term Deposits

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Deposit term (in months)

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Next rate increased
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4.70%

for 12 months

$5,000

4.25%

for 8 months

1.45%

for 2 months

Term Deposit
  • 8 months
  • Automatic maturity rollover
  • Joint application available
  • Interest payment to other institution

Term Deposits calculator

Use our term deposit calculator to see how much you can earn under different investment scenarios.

$
months

Final balance at the end of term would be

at interest rate 1.25 %

About NAB term deposits

NAB offers term deposits from 30 days up to 5 years. Interest is paid monthly, quarterly, half-yearly or annually.  

Its term deposit rates range from low to moderate, with shorter-term deposits earning less than longer-term deposits.

NAB also offers special term deposits for Aussie farmers, with moderate to high interest term deposit rates offered at 6 months, 12 months, 13-23 months and 24 months.  

NAB does not charge any monthly service fees. However, early termination or break fees may apply. 

NAB term deposits review

As NAB is one of the biggest banks in Australia, it doesn’t necessarily offer the highest rates in the market compared to smaller providers with lower overheads. 

However, its rates for longer-term deposits are moderate. Customers who choose NAB will also benefit from strong customer service, including access to over 1,000 branches across the country.

NAB does offer higher rates for its farm management deposits, making it a competitive choice for those in the agricultural sector. It accepts balances of $10,000 to $800,000 for these special term deposits. 

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.