What is NAB's best term deposit rate?

NAB's best term deposit rate is 5.25% p.a. for 12 months (5.20% p.a. for 24 months). The minimum deposit is $5,000 and interest is paid at maturity for terms up to 12 months.

What is the minimum deposit for a NAB term deposit?

NAB requires a minimum deposit of $5,000 to open a term deposit. There is no published maximum for standard personal term deposits.

Can I withdraw a NAB term deposit early?

Yes, but 31 days notice is required for early withdrawal and a penalty (reduction in interest rate) applies. NAB will contact you before maturity to arrange renewal or payout instructions.

NAB Term Deposit Review (2026)

Rates and details verified 24 June 2026

Rates can change without notice. Last verified: 24 June 2026 (AEST). Please confirm details on the bank’s official page.

Best rate

5.25%

p.a. for 12 months

Minimum deposit

$5,000

to open

Early withdrawal

31 days

notice required

About NAB Term Deposits

National Australia Bank (NAB) is one of Australia's four major banks and offers term deposits from 1 month to 5 years. The current best rate is 5.25% p.a. for a 12-month term (24 months earns 5.20% p.a.), competitive with CommBank but below challenger bank rates from Judo Bank (5.35%) and AMP Bank (5.40%).

Like other big-four banks, NAB's short-term rates (3 and 6 months) trail those available from challenger banks. For customers who value the convenience of an existing NAB relationship, the 12-month rate is competitive within the big-four peer group.

Current Term Deposit Rates

Term	Rate (p.a.)	Notes
3 months	3.35%	At maturity, $5k–$99,999
6 months	3.50%	At maturity
12 months	5.25%	At maturity
24 months	5.20%	Annually for terms over 12 months

Check NAB's website for the latest rates before investing.

Pros and Cons

Pros

✓ 5.25% p.a. for 12 months (5.20% for 24 months) — competitive big-four rate
✓ Existing customers can open via NAB Internet Banking
✓ Government deposit guarantee up to $250,000
✓ No establishment or management fees
✓ Wide branch and ATM network

Cons

✗ Short-term rates (3m: 3.35%, 6m: 3.50%) low vs challengers
✗ 12-month rate below Judo (5.35%) and AMP (5.40%)
✗ 31 days notice for early withdrawal; penalty applies
✗ $5,000 minimum deposit

How It Compares

AMP Bank Term Deposit (GO)
5.40% (12 months) — $5k min — highest 12m rate
Judo Bank Personal Term Deposit
5.35% (12 months) — $1k min
ING Term Deposit
5.30% (12 months) — $10k min
CommBank Term Deposit
5.25% (12 months) — special offer, $5k min
NAB Term DepositReviewed here
5.25% (12 months) — $5k min — big-four peer to CommBank
Westpac Term Deposit
5.15% (12 months) — with online bonus, $5k min

→ Compare all term deposits

Related guides

View NAB Term Deposit →

Information verified 24 June 2026. Rates and offers subject to change. Confirm current rates on NAB's website before investing. This is not financial advice.