NAB continues to lead the market with Personal Loan and Credit Card offers

NAB has launched market-leading offers for Personal Loans and Credit Cards to help customers plan for the end of the financial year. NAB is now offering the lowest unsecured Personal Loan rate of the major banks with 12.99% p.a. for variable and fixed loans. NAB is also offering 0% p.a. interest on purchases for 12 months on its Low Rate personal Credit Card. These offers are available for all new Low Rate Cards and new Personal Loans. General Manager Everyday Banking, Consumer and Cards, Michael Shurlin said the offers would help customers looking for more flexibility as they plan for the second half of the year. "We are continuing to provide our customers with the best products to help them manage their personal finances, whether they are simply looking to keep their household budget on track or are planning a holiday to escape the winter," he said. "Customers voted with their feet earlier in the year and flocked to NAB on the back of our credit card and personal loan offers, so we've launched these new offers to continue providing customers with what they need." Mr Shurlin said customers who currently apply for a Personal Loan can also access discounts on a range of insurance products. "At NAB we are proud of our track record of being the most competitive of the major banks and of driving competition. We have shown this time and again because what's good for our customers is good for our business," he said. "We always aim to have the best products in market and the people and the service to back it up." Mr Shurlin said NAB research showed the top reasons people used a Personal Loan included, buying a car, consolidating their debt and travel. NAB research also found that cars and travel were also among the top categories for credit card spending.

Priority Credit Card Personal Loan
1 Supermarket Car
2 Car Debt Consolidation
3 Food Personal Goods
4 Stores Refinance
5 Travel Travel

The above table refers to the top six reasons NAB customers apply for a Personal Loan and the top six categories that NAB customers use their Credit Cards for.

"We see our customers are getting smarter at managing their debt. For example, many NAB Personal Loan customers take out six-year loans, but pay down their debt within 3 years, saving them over $3,000 in interest," Mr Shurlin said. "NAB is the only major bank that doesn't charge any early exit fees on Personal Loans, including on fixed rate loans, helping save our customers even more. "This also comes on the back of our New Year offer of 0% interest for 15 months on credit card balance transfers, which saw a 120 per cent increase, year-on-year, for the number of fulfilments for balance transfers, so we know people are looking for the most effective ways to manage their debt. "That’s why we have extended the balance transfer offer of 0% for 15 months on our NAB Premium Card until 31 July." Note to editor: New purchase rate offer of 0% p.a. interest for 12 months on NAB’s Low Rate Card is available online from 2 June and through all other channels, including stores from 9 June. For further information: Media Nick Higginbottom M: +61 (0) 477 342 075

Mark Alexander M: +61 (0) 412 171 447