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NAB has moved to offer the lowest one-year fixed introductory rate home loan of the major banks, helping to give first time home buyers the confidence to get into the market.
NAB's 6.25 per cent one-year fixed introductory rate home loan is currently the lowest fixed rate of its kind on offer from the major banks. It will be on offer to new NAB home loan customers from Monday 5 June.
NAB's General Manager Mortgages, Warren Shaw, said the new 6.25 per cent low-rate loan would attract first homebuyers to NAB and help give them the confidence to purchase that first home.
"First home buyers often find it difficult to get into the home loan market and look for low introductory rates when buying their first home.
"The NAB 6.25 per cent one-year fixed introductory rate home loan is a very competitive offer and will assist first home buyers in reducing their borrowing costs for their new home."
Key features of the NAB 6.25 per cent one-year fixed introductory rate home loan:
- It is currently the most competitive of its kind from the major banks for one-year fixed introductory rate home loans.
- Ability to make additional repayments of up to $20,000 during the fixed rate period, and a choice of weekly,
fortnightly or monthly repayments
- After the first year introductory period, the 6.25 per cent fixed rate switches to NAB's standard variable home loan
rate.
Prior to 5 June 2006, NAB's one-year fixed introductory rate home loan rate was 6.49 per cent.
For further media information, please contact:
Kerrina Lawrence
NAB Retail Corporate Affairs Manager
National Australia Bank Limited
Tel: (03) 8634 0693
Mob: 0417 034 738
Fees and charges and terms and conditions apply. Terms and conditions are available from NAB on request.
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