NAB logo

NAB Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
4.80% p.a.1 year ($5,000 to $1,999,999)
Minimum Deposit
$5,000.00
Interest paid to another bank?
yes

Mozo editorial review NAB Term Deposit - last updated: 11 June 2024

binocular icon
What's hot
  • 4.80% rate for 1 year
  • Wide range of term options from 1 month to 5 years
  • Option to have interest paid to another bank
What's not
  • 31 days notice required for customers making early withdrawals
Mozo snapshot

If you want some flexibility when locking your savings away, then the NAB Term Deposit could be worth a look. There are several term options to pick from, ranging from as short as 30 days all the way up to five years. With NAB, you can earn interest of up to 4.80% depending on your term length.


key icon
Key features

The NAB Term Deposit allows savers to stash any amount between $5,000 and $1,999,999, although the interest rate they’ll earn varies according to how long they’ve chosen to lock away the money for. Fixed rates start at 1.25% for a 1-month term and go up to 4.80% for a 12 month term.

With the NAB Term Deposit, you can opt to have your interest paid into another bank of your choice, either as direct credit, cheque or cash. And if you pick a term of 12 months or longer, you’ll also be granted the flexibility to have your interest paid monthly, quarterly, half-yearly or annually to suit your savings needs.

Just bear in mind you’ll need to give NAB at least 31 days notice before making an early withdrawal. This term deposit also has an automatic rollover feature, so be sure to either opt out or check that the rates for that term are still competitive before letting it roll over.


snapshot
Who is it good for

The NAB Term Deposit suits committed savers looking to grow balances between $5,000 and $1,999,999 In particular, it could be great for those who want a variety of options when it comes to accessing the interest earned.


question icon
Any catches

Beware of withdrawing funds from your term deposit before maturity date. Not only will you need to give NAB at least 31 days notice, but you’ll also be hit with a prepayment cost.


Details

Rates and fees information correct as at 16 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

1.25% p.a. ($5,000 to $1,999,999)

1.45% p.a. ($5,000 to $1,999,999)

3.50% p.a. ($5,000 to $1,999,999)

3.60% p.a. ($5,000 to $1,999,999)

3.70% p.a. ($5,000 to $1,999,999)

3.80% p.a. ($5,000 to $1,999,999)

3.80% p.a. ($5,000 to $1,999,999)

4.00% p.a. ($5,000 to $1,999,999)

4.00% p.a. ($5,000 to $1,999,999)

4.00% p.a. ($5,000 to $1,999,999)

4.00% p.a. ($5,000 to $1,999,999)

4.80% p.a. ($5,000 to $1,999,999)

4.50% p.a. ($5,000 to $1,999,999)

4.50% p.a. ($5,000 to $1,999,999)

4.00% p.a. ($5,000 to $1,999,999)

3.80% p.a. ($5,000 to $1,999,999)

3.80% p.a. ($5,000 to $1,999,999)

3.80% p.a. ($5,000 to $1,999,999)

Other financial bits

$5,000.00

$1,999,999.00

Features

yes

yes

SMSF rates for more than $100,000 are negotiable. 31 days notice required for full or partial release before maturity. New deposits for terms of more than two years can only be opened online for individual customers and cannot be done in branch

none

Different interest rates apply to different amounts or different interest payment frequencies.

Customer Reviews

How are NAB term deposits rated by the Mozo community?

Overall
7.5/10
Price
6.8/10
Features
6.2/10
Customer service
7.5/10
Convenience
7.8/10
Trust
7.7/10
Based on 325 NAB term deposit reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of NAB Term Deposit

About NAB

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Term Deposit

5.00% p.a.

$5,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit for SMSF

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for ING
ING

Term Deposit

5.10% p.a.

$10,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Term Deposit

5.00% p.a.

$5,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit for SMSF

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for ING
ING

Term Deposit

5.10% p.a.

$10,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Term Deposit

5.00% p.a.

$5,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit for SMSF

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for ING
ING

Term Deposit

5.10% p.a.

$10,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Term Deposit

5.00% p.a.

$5,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit for SMSF

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for ING
ING

Term Deposit

5.10% p.a.

$10,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Term Deposit

5.00% p.a.

$5,000.00

Yes up to $250,000

Thumbnail icon for Judo Bank
Judo Bank

Term Deposit for SMSF

5.25% p.a.

$1,000.00

Yes up to $250,000

Thumbnail icon for ING
ING

Term Deposit

5.10% p.a.

$10,000.00

Yes up to $250,000

Compare other term deposits