National to increase variable lending rates - 7 November 2003

Following the Reserve Bank announcement on 5 November to increase official interest rates, the National Australia Bank announces that the interest rate applying to National variable rate home loan products will increase by 26 basis points from 10 November 2003.

National's standard variable home loan rate will now be 6.82%.

Interest rates applying to business and variable personal loan products will increase by 25 basis points.

Since November 2001, the National has had a policy of passing on increases and decreases to personal variable rate home loans within five days of a RBA rate change announcement.