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A high-interest business deposit account, National Business Cash Maximiser, has been launched today by the National Australia Bank (NAB) and sets a new standard in the competitive business deposit market.
NAB's National Business Cash Maximiser allows business owners and managers to make the most of their cash via a simple, free of monthly service fees, on-call deposit account accessible by phone, internet and via National Online.
It addresses head-on the trend of some deposits flowing from major financial institutions and banks to non-traditional deposit takers and overcomes the issue of how many of these deposit accounts do not serve the needs of business customers.
NAB research shows that some businesses shop around and go to the trouble of moving cash from one institution to another to get a slightly better rate. This is particularly evident in businesses building cash reserves to meet their quarterly GST payments.
"National Business Cash Maximiser is part of our strategy to provide customers with even better value," said George Frazis, Executive General Manager of Business and Private Banking at NAB.
"We are committed to making banking easier and helping our customers do business better," he said. "National Business Cash Maximiser allows our clients to make the most of their cash and make periodic payments without the hassles of moving it from one institution to another, paying any additional fees and waiting up to two working days for the funds to clear.
"Designed to save business owners and managers time and money, National Business Cash Maximiser is a new, simple business deposit solution with competitive rates that gives customers more control and flexibility in managing cash," Mr Frazis said today.
Bruce Munro, NAB's Executive General Manager of Business Products and Services said: "National Business Cash Maximiser is a very attractive product, even in the current market with unprecedented price competition and promotion.
"The National Business Cash Maximiser is a great product for our existing customers as well as an attractive offer for new customers. It rewards customers on tiered basis as deposits grow providing 5.20% - $10-100,000, 5.30% - $100-500,000 and 5.40% - $500,000 and above," Mr Munro said.
Customers can call 13 10 12 for further information.
Important Information
Any advice contained in this article has been prepared without taking into account objectives, financial situation or needs. Before acting on any advice in this article, National Australia Bank Ltd recommends that you consider whether it is appropriate for your circumstances. The National recommends you consider the Product Disclosure Statement available from the National, before making any decisions regarding National Business Cash Maximiser. This product is issued by National Australia Bank Ltd ABN 12 004 044 937. For further information call 13 10 12 for Business Accounts.
About NAB Business and Private Banking
The National Australia Bank employs over 4,000 business banking specialists and 450 financial planners and specialists at over 170 business banking centres Australia wide. It is one of the market leaders in providing business banking services to Australian business. The National provides a number of 'Business Information Guides' that are available on its website www.nab.com.au. For further information visit http://www.nabgroup.com/0,,63056,00.html.
About NAB Business Products and Services
The National Australia Bank's Business Products and Services brings together a unique combination of business product capabilities. It distributes its products through the NAB's Business and Private Bank as well as through specialist sales forces. It turns over in excess of $3 billion a year, employs over 1500 people and includes the business streams of Custodian Services, Asset Finance, Business Lending, Cash Management and e-Business, Fleet Services, Working Capital Finance and Trade, Merchant Services.
For further media information contact:
John Fergusson
B&PS Corporate Affairs
National Australia Bank
Tel. 03 8634 3845
Mob. 0407 826 952
Guy McKanna
BAP Corporate Affairs
National Australia Bank
Tel: (02) 9966 3532
Mob: 0402 893 843
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