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A range of wealth management services have now been added to the National's Choice Package, making it an ideal solution for those looking to consolidate all their financial needs with the one provider.
From 20 August 2001, existing National Choice Package customers (previously called Professional's Choice) will receive preferential rates for online and telephone share trading, online funds management and margin lending facilities.
Other existing benefits continue with the revised package, including preferential interest rates on home loans, residential investment loans and term deposits. For an annual fee of $375, customers also enjoy fee reductions for life and general insurance policies, National Gold Card, personal loans and effectively free day to day banking.
"There can be considerable savings to be gained from consolidating your financial needs with the one provider through a package like National Choice and over 40% of our home loan customers now choose this option," said Ken Hodgson, the National's General Manager, Personal Financial Services.
Choice Package customers will also be able to assess the benefits of their package with the use of interactive tools, coming soon to the National's web site at www.nab.com.au.
To be eligible* for a National Choice Package, customers must have at least $150,000 in borrowings with the National. (*Other terms and conditions apply.)
National Choice Package Benefits At a Glance
| National Products |
Benefits |
| Variable rate owner-occupied and investment home loans |
- Preferential rate of 0.5% p.a. less than the standard variable home loan rate for both owner-occupied and residential investment home loans, with the ability to link to 100% offset
- No application or service fees
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| Fixed rate owner-occupied and residential investment loans |
- No application or service fees
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| National FlexiPlus Mortgage |
- Preferential rate discounted to the standard variable home loan rate (currently 0.15% less than the standard FlexiPlus Mortgage rate).
- No application, facility fee, transaction fees or non-National ATM fees (except government duties and charges)
- Tiered credit interest rates on FlexiPlus Mortgage
- Ability to sweep interest charges from the National FlexiAccount to which the FlexiPlus Mortgage facility is attached to another account for investment purposes
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| Personal/Residential Investment Fixed Rate Interest Only Loans |
- No application or service fees are payable.
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| Financial Planning Services |
- 10% reduction on plan preparation services, plan implementation services and portfolio review services.
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| NAB Term Deposits |
- A bonus 0.25% p.a. on selected NAB Term Deposits, from $5,000 up to $250,000 when you invest for 12 months or more. (Not available on specials eg. Blackboard offers).
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OnLine Trading
(National On Line Trading) |
- $4.05 off the brokerage for on-line trades of $25,000 and under - $22.95 per trade (standard brokerage $27 per trade of $25,000 and under).
- $9.00 off the brokerage for phone trades of $45,000 and under - $40.00 per trade (standard brokerage $49 per trade of $45,000 and under).
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| OnLine Managed Funds (delivered through Your Prosperity's* Portfolio Service and Super Trust) |
- 7.50% reduction on the standard Your Prosperity management fee for the Portfolio Service and Super Trust.
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| National Margin Lending |
- Preferential interest rate of 0.20% p.a. off both variable and fixed rate National Margin Lending loans.
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| National transaction account |
- No monthly account service, transaction fees or non-National ATM fees on National transaction account (except government duties and charges)
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| National Protection Plan |
- 7.50% rate reduction on National Term Life insurance premiums
- 7.50% rate reduction on National Income Protection and Income Protection Plus premiums
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| NAB Home Insurance |
- One month free cover on new and renewed 12 month policy
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| NAB Residential Investor Insurance |
- One month free cover on new and renewed 12 month policy
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- Your Prosperity is a member of the National Group of companies.
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