13 Oct 2017

Simple, short contracts

Having a simple and fair contract to kick off the beginning of a financial journey is one of the most important elements of a strong partnership.

Simple and easy to understand language saves you time, improves transparency and facilitates mutual understanding.

On Friday 6th October, we announced that we overhauled our existing standard loan form contract. From 16 October 2017, over 130,000 small and medium size business customers will start to benefit from these changes.

Simpler contractual clauses, plain English, a major reduction in document length and one-third of existing terms and conditions have been discarded as part of NAB’s commitment to lifting standards across the industry.

 

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