National to increase variable lending rates - 05 December 2003

Following the Reserve Bank announcement on 3 December 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 25 basis points from 8 December 2003.

National's standard variable home loan rate will now be 7.07%.

Interest rates applying to National credit cards, 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.