NAB has responded to the ACCC inquiry into mortgage pricing announced by the Federal Government earlier today.
NAB's Chief Customer Officer, Consumer Banking, Mike Baird said: "This is an important opportunity to discuss the challenges of an increasingly low interest rate environment and engage in a broader discussion about how we support all our customers – both depositors and borrowers."
Fast facts:
- NAB currently has the lowest Standard Variable Rate of the major banks.
- Last year, NAB held its SVR for 4 months saving home loan customers almost $70 million.
- NAB continues to back young Australians with their home ownership dreams by offering a special fixed rate of 2.88% p.a. for two years for first home owners.
- Every month, NAB lends, on average, $4 billion for customers to buy, renovate or refinance their home.
- NAB home loan customers are, on average, 33.7 months ahead on their repayments, with two-thirds at least one month ahead.
- NAB recently scrapped over 100 fees from its products and services.
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