Australia’s largest business bank, NAB, will reduce interest rates on eligible business lending products by 0.25% p.a. following the Reserve Bank of Australia’s decision to lower the cash rate by 0.25%.
New and existing business customers with a variable rate NAB Business Options Loan or a NAB Business Overdraft product will have their interest rate reduced by 0.25% p.a. effective from 30 May 2025.
NAB Group Executive for Business & Private Banking Michael Saadie said:
“Business is the heartbeat of Australia’s economy and we know lower interest rates drive greater confidence right across the business community.
“Many of our business customers also bank with us personally, so we are confident the combined impact of rate reductions across our business and home lending products will contribute positively to that.
“As businesses contend with global trade uncertainty, tariffs, costs and cashflow challenges, NAB is reducing interest rates to help our customers focus on what matters most – running and growing their business.
“While lower interest rates are welcome news, we know some business customers are facing tougher trading conditions which is why we have a range of support options available to those who need it.”
Eligible business customers will see their new interest rate reflected on their next statement after 30 May 2025.
The change in business products comes after NAB’s decision to reduce the standard variable interest rate on NAB home loan products by 0.25% p.a.
Additional information:
- Eligible NAB business lending customers can either choose to lower their repayments or continue at their current repayment level, reducing interest paid over the life of the loan.
- NAB continually reviews its interest rates for business deposit products.
