National Australia Bank (NAB) is one of Australia's Big Four banks. Take a look at the different NAB savings accounts and bank accounts in the table below to find the right one for you.
Did you know? Citi deposit accounts were closed and moved to similar NAB branded accounts on 24 February 2024
NAB savings accounts, transaction accounts and term deposits
National Australia Bank (NAB) is one of four leading financial institutions in Australia known as the Big Four banks.
Its main competitors are Westpac, ANZ and CommBank which, along with NAB, make up the Big Four.
NAB has more than 12 million customers around the world.
When you deposit up to $250,000 in a NAB deposit account, your money is protected as a part of the Australian government guarantee.
NAB is Australia's largest business bank and a popular choice for small and medium Australian businesses.
NAB is the only Big Four bank that doesn't charge account-keeping fees on its transaction account.
NAB owns ubank and digital bank 86 400.
Different accounts offered by NAB
Being one of the biggest banks in Australia, NAB offers a large variety of bank and savings accounts, which are listed in the tables above. Here's a brief overview of the main personal accounts offered by NAB. If you're after a retirement or business specific account, take a look at the table of accounts above.
NAB Classic Banking
This is NAB's main everyday transaction account. It has no monthly account-keeping fee and no monthly deposit conditions to meet to avoid the fee either. It comes with a Visa debit card for easy access to your money.
This is the same account as the Classic Banking account, but it comes with a Platinum Visa Debit Card instead of a standard debit card. This account has a $10 monthly account fee; however, it also has extra perks and benefits including no international transaction fees and cashback on contactless purchases.
Earn bonus interest on your savings balance when you make at least 1 deposit each month without making any withdrawals. This is an account that is free from any monthly fees, yet awards you with unlimited access to your money. It currently offers a total bonus rate of 5%.
This is an online savings account with an introductory bonus rate of 5% for the first 4 months with no conditions to meet. After the introductory period is up, this rate will drop to the base rate.
The NAB Term Deposit offers fixed term lengths from 7 days to 5 years, with a fixed interest rate for the duration of the term length. Your initial investment must be at least $5,000 and the interest is calculated on a daily basis with your choice of receiving it monthly, quarterly, bi-annually or annually.
NAB offers many different ways to do your banking.
Bank branches
NAB has more than 1,000 bank branches across Australia, with 40+ in Brisbane, 80+ in Sydney and 100+ in Melbourne. Customers can go into a NAB branch for general day-to-day banking, to deposit cash or cheques, to open or close accounts or to get help and assistance. Ubank customers can also use NAB branches, as ubank has no branches of its own.
ATM network
There are more than 4,000 NAB ATMs around Australia. NAB has been reducing its ATM network for the past few years, as more people turn to online banking instead of cash. In 2019, NAB closed down almost 2,000 ATMs across Australia. At eligible NAB ATMs, you can deposit cash and cheques as well as make standard withdrawals. NAB also offers some contactless ATMs, which allow customers to withdraw cash using their phone instead of their debit card.
Bank@Post
If you need to deposit cash into your account, you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.
NAB Internet and mobile banking
NAB Internet banking allows you to review transactions and balances, pay bills, transfer money between accounts, make BPAY payments, view and download statements or open new NAB accounts. You can also temporarily block your account or your debit card if you've misplaced it. NAB Defence is NAB's online security system, which will monitor your transactions for any that seem suspicious.
The NAB app is available for free on the Google Play or App Store. You can check your balance, set up your PayID for instant transfers, transfer between accounts or Pay Anyone, and block your card if needed.
Contactless payment options
NAB offers Apple Pay, Google Pay and Samsung Pay to customers with a NAB debit card. This means you can use your phone (or any compatible device) to make contactless payments for everyday items, instead of using your physical debit card.
Pros and cons of banking with NAB
Pros
Bank account with no fees. NAB is the only Big Four bank to offer a transaction account with no monthly account-keeping fee.
Variety of account types. NAB offers a few different bank account options and savings account options, instead of just the one.
Platinum Visa debit card. You have the choice of upgrading to a Platinum Visa Debit Card, which offers extra perks like no international transaction fees and cashback offers.
Contactless payments using your phone. NAB offers Apple Pay, Samsung Pay and Google Pay.
Bank branches and ATMs. NAB has lots of branches and ATMs across the county, so you shouldn't struggle to find a bank branch or ATM when you need one.
Negatives
Less competitive. NAB's savings account rates are less competitive than others in the market.
Fewer app features. The NAB App has fewer digital saving and budgeting features compared to other banks.
How to apply for a NAB account online
You can apply for a new NAB account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.
Eligibility
You're over 18 years old
You're an Australian resident for tax purposes
You have an Australian phone number and residential address
Documentation
Personal details like your name, date of birth, residential address, phone number and email address
ID documents such as your driver's licence, Medicare card, passport or proof-of-age card
If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio
Alison's expertise
Alison has written 645 Finder guides across topics including:
Why can’t I transfer money between my classic account and my personal accounts through my internet banking which I just set up. Also why can’t I pay a bill with my classic account online
LiezlApril 29, 2017
Hi Senol,
Thank you for your question.
If you have recently set up your NAB internet banking, please make sure that you have linked your classic, personal, and credit card accounts to your internet banking profile.
Kindly note that in order to pay NAB Credit cards not linked to your internet banking profile, or credit cards at other financial institutions, you must use BPAY (accessed via the BILL payment function). You may also refer to our guide on paying your NAB credit card. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered on your transactions.
I hope this helps.
Best regards,
Liezl
GuenMarch 29, 2017
Hi NAB/finder.com team,
I need help please.
1. How to close/delete some of my NAB bank accounts that already created?
2. About NAB Reward Saver, is there any minimum amount has to be deposited each month after the first month deposit?
3. How do you count the bonus interest?
Thank you
Finder
DeeMarch 29, 2017Finder
Hi Guen,
Thanks for your question.
You need to visit a NAB branch to close an account.
For NAB Reward Saver, you’ll receive up to 2.55% p.a. (standard rate plus bonus rate) when you make at least one deposit of any amount and no withdrawals for the month.
Cheers,
Anndy
EdauFebruary 18, 2017
Deposits more than 5 times to my rewards savers but never withdraw will I’ll be able to earn interests?
Finder
DeeFebruary 22, 2017Finder
Hi Edau,
Thanks for your question.
For NAB Reward Saver, you’ll get the bonus interest rate when you make at least one deposit and no withdrawals in the month.
Since you deposited into your account and did not make any withdrawals, you’ll be eligible to receive the 2.70% p.a. interest rate.
Cheers,
Anndy
RomeiJanuary 29, 2017
I need to find an account that does not charge international withdrawal fees. Any suggestions, please.
Finder
JasonJanuary 29, 2017Finder
Hi Romei,
Thank you for your enquiry.
Please check out linked debit cards that offer no overseas ATM withdrawal fees.
I hope this helps.
Kind regards,
Jason
PhillipMarch 18, 2016
Who is the banking manager at the NAB in Thorn Street Ipswich Branch?
Finder
ShirleyMarch 21, 2016Finder
Hi Philip,
Thanks for your question.
Unfortunately this information is not available to the public, we’d recommend that you speak to the branch directly.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Why can’t I transfer money between my classic account and my personal accounts through my internet banking which I just set up. Also why can’t I pay a bill with my classic account online
Hi Senol,
Thank you for your question.
If you have recently set up your NAB internet banking, please make sure that you have linked your classic, personal, and credit card accounts to your internet banking profile.
Kindly note that in order to pay NAB Credit cards not linked to your internet banking profile, or credit cards at other financial institutions, you must use BPAY (accessed via the BILL payment function). You may also refer to our guide on paying your NAB credit card. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered on your transactions.
I hope this helps.
Best regards,
Liezl
Hi NAB/finder.com team,
I need help please.
1. How to close/delete some of my NAB bank accounts that already created?
2. About NAB Reward Saver, is there any minimum amount has to be deposited each month after the first month deposit?
3. How do you count the bonus interest?
Thank you
Hi Guen,
Thanks for your question.
You need to visit a NAB branch to close an account.
For NAB Reward Saver, you’ll receive up to 2.55% p.a. (standard rate plus bonus rate) when you make at least one deposit of any amount and no withdrawals for the month.
Cheers,
Anndy
Deposits more than 5 times to my rewards savers but never withdraw will I’ll be able to earn interests?
Hi Edau,
Thanks for your question.
For NAB Reward Saver, you’ll get the bonus interest rate when you make at least one deposit and no withdrawals in the month.
Since you deposited into your account and did not make any withdrawals, you’ll be eligible to receive the 2.70% p.a. interest rate.
Cheers,
Anndy
I need to find an account that does not charge international withdrawal fees. Any suggestions, please.
Hi Romei,
Thank you for your enquiry.
Please check out linked debit cards that offer no overseas ATM withdrawal fees.
I hope this helps.
Kind regards,
Jason
Who is the banking manager at the NAB in Thorn Street Ipswich Branch?
Hi Philip,
Thanks for your question.
Unfortunately this information is not available to the public, we’d recommend that you speak to the branch directly.