NAB has today announced changes on savings products and home loans.

Savings rates: 

• NAB’s iSaver (Standard Variable and Total Introductory Rate) will increase by 0.50% p.a. effective from 12 August 2022
• NAB’s Reward Saver bonus rate will increase by 0.50% p.a. to 1.75% effective from 12 August 2022
• NAB’s 12-month term deposit will increase 0.50% p.a. to 3.00% effective from 12 August 2022.

NAB regularly updates its savings and term deposit rates. The bank has made more than 20 increases on these products since 1 May – for the latest rate, check here.

Home loan rate:

• The standard variable home loan interest rate will increase by 0.50% p.a, effective from 12 August 2022.

To view NAB’s current home loan rates, check here .

NAB Group Executive Personal Banking Rachel Slade said NAB was here to help all customers, particularly those who might find increasing home loan rates challenging.

“While most of our customers are ahead on their repayments, if you’re concerned, the NAB Assist team is ready to help. Please get in touch – the earlier the better,” Ms Slade said.

“The first step is a conversation so we can help you get back on track.”