NAB increases deposit rates by up to 0.40%

Friday, 15 February 2008

NAB has announced a range of competitive deposit interest rates for personal and business banking customers.

From Monday 18 February 2008 NAB's popular iSaver account will increase by 0.25% to 6.80% for all balances. iSaver does not have minimum balance requirements or account keeping fees.

Term deposit customers will also be able to access higher interest rates with a range of competitive offers including 11 months at 7.75% on balances between $20,000 and $500,000.

NAB's leading business deposit account, Business Cash Maximiser, will increase interest rates by up to 0.40% to pay 6.85% on all balances over $10,000.

NAB Executive Director and CEO Australia, Ahmed Fahour, said the new rates reflected a continued desire to attract a strong deposit base.

"Deposits represent an important part of NAB's funding mix and we are keen to continue to build our presence in this market," he said.

"These new rates are designed to benefit customers who would like to build their savings."

For more information on NAB's deposit interest rates visit, drop into your local branch or call NAB on 13 22 65. Media contact: Brandon Phillips National Australia Bank Ph: 0419 369 058

Any advice contained in this release has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice in this release, NAB recommends that you consider whether it is appropriate for your circumstances

* The information contained in this media release is for media advice purposes only. The contents are true and correct at time of publishing/issuing, however may change over time. For further information about NAB products or rates, please go to Interest Rates, Fees & Charges