NABs message to Wespac Customers

“In a statement announcing the move, NAB said its customers would be paying $51 per month less than Westpac customers on an average $300,000 home loan.

"We are determined to be competitive, to offer our customers a better deal and attract new customers to NAB," NAB personal banking group executive, Lisa Gray, said in a statement.

"Today we are sending a message to customers at Westpac, and the other banks, that NAB can offer them a better deal."

Ms Gray said the bank's new variable rate was likely to remain lower than the other majors'.

"We have been very considered with this announcement given funding costs and the cost of raising deposits continue to fluctuate and are expected to increase further," she said.

"While we are monitoring the increase in funding costs, we will continue to absorb these in the short term but will maintain our focus on making responsible business decisions." “

As a NAB customer I'm extremely impressed with NAB since the new CEO took over. Got an amazing rate on our latest loan. And their new UBank online saving account is brilliant.

I'm not a fan of Gail Kelly or Wespac (and St George due to past experiences) so I have avoided these banks. Hence their latest greedy rate move won't affect me thank goodness.

Cheers - Gordon
 
I'm wondering if I can use this as leverage to get even more than the .9% off standard with my professional package. Anyone else going to try?
 
NAB has been a significant underperformer (in market share terms) in the consumer segment for ages. Cameron Clyne has made it pretty obvious that he intends to have a go at playing catch-up (see for example removal of various fees).

Time will tell if it is more than a shortish term play.
 
I'm wondering if I can use this as leverage to get even more than the .9% off standard with my professional package. Anyone else going to try?

We actually got better than that on our latest loan without even asking/negotiating. Admittably we have a good relationship with NAB but in the past I at least needed to do a bit of negotiating etc to get as good or better rate than its competitors for a given loan amount. So we're very happy to say the least.

Cheers - Gordon
 
I'm wondering if I can use this as leverage to get even more than the .9% off standard with my professional package. Anyone else going to try?
Even if no-one follows, it gives Westpac the option of giving everyone a 1%+ discount. They still make $$$ and the customer gets bragging rights of a bigger discount than the Jones - win win.
 
I got my last mortgage from NAB - and it was so easy, quick and relatively cheap to do. I've signed up for a NAB Portfolio investment package and they gave me a better and more flexible rate and package compared to my other mortgages.

I guess seeing 50 odd k in deposits, and trying to get me to move those deposits into NAB, helped me to get a better deal.

So far, i am very happy with NAB - so far.


thanks


g
 
Top