The standard variable NAB home loan interest rate will increase by 0.25% p.a., effective from 16 December 2022.
NAB's savings and term deposit rates are continually under review - for the latest rate changes, click here. The market for savings is particularly dynamic and, as a result, NAB has made more than 45 increases across its savings products since 1 May.
In November, NAB increased rates on several savings products. NAB's iSaver intro rate increased by 0.50% p.a, while Term Deposit rates increased by up to 0.50% p.a.
NAB Group Executive for Personal Banking Rachel Slade said:
"It's important for anyone finding the increasing interest rates a challenge to lean on their bank for support.
"At NAB, we have a dedicated team 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 more than 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.
