The standard variable NAB home loan interest rate will increase by 0.25% p.a, effective from 11 November 2022.
NAB's savings and term deposit rates are continually under review - for the latest product movements, click here. The market for savings is particularly dynamic at the moment and as a result, NAB has made more than 40 increases across savings products since 1 May.
In October, NAB increased savings products by 0.25% and the iSaver intro rate by 0.70%, while Term Deposit rates increased by up to 1.50%.
NAB Group Executive for Personal Banking Rachel Slade said:
"For those who are finding the increasing interest rates a challenge, banks have a critical role to provide support.
"At NAB, we have dedicated financial counsellors who listen to each customer's individual situation and are able to offer tailored solutions – whether that be a reduced payment arrangement, payment break or restructuring their loan.
"Regardless of who you bank with, I encourage people to speak to their bank early if they are concerned. The results speak for themselves - when a customer gets in touch with NAB Assist at the early stages of their concerns about their finances, we're able to get 90% back on their feet within 90 days."
Customers can manage their home loan or make adjustments to their repayments online, through the NAB app or by speaking to a home loan specialist by calling 13 78 79.
To view NAB's current home loan rates please click here.
