Business
NAB cuts savings rates due to pressured interest rate environment – NEWS.com.au
NAB cuts savings rates due to pressured interest rate environment
National Australia Bank has bowed to the pressure of the low interest environment, slashing savings rates across a slew of deposit accounts. The country’s major business bank has taken a knife to both its standard and conditional savings accounts, cutting the headline rates by 15 basis points.
NAB’s standard iSaver now attracts a five-month introductory rate of 0.45 per cent before reverting to an ongoing rate of 0.05 per cent.
Its conditional deposit account now has a maximum rate of 0.4 per cent.
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