Rachel Slade, NAB’s Group Executive for Personal Banking, joined Sean Aylmer from the popular daily business news podcast Fear and Greed this morning.
They talked about how the rising interest rate environment will be a first for many Australians and newer homeowners.
“For lots of customers this is their very first experience of rising rates…More than seventy per cent of our customers are ahead on their repayments,” Ms Slade said.
While many people are ahead on their repayments, there are people who are finding this time challenging, particularly when combined with cost-of-living pressures.
“In the last six months we’ve seen lots more interest in spend-tracking and budgeting tools.”
Ms Slade also talked about the importance of speaking to your bank early, reiterating that NAB is here to support customers.
Listen to the full interview here.