National Australia Bank changes lending rates

National Australia Bank announced today a change of 0.10% to its standard variable home loan interest rate, to 9.46% per annum. The new rate takes effect from Monday, 28 April 2008.

NAB's new base variable rate for new customers with loans in excess of $250,000 will be 8.75% per annum. NAB also continues to offer a range of competitive fixed rate home loans for customers concerned about the prospect of future rate rises.

The change to the standard variable rate reflects the sustained increases to long term wholesale funding costs.

Customers seeking assistance or financial advice should visit any of our 800 branches or call NAB Direct on 13 22 65.

For further information:

Media
Brandon Phillips
M: +61 (0) 419 369 058

Felicity Glennie-Holmes
M: +61 (0) 412 673 038