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National Australia Bank, also referred to as NAB, ranks as one of the top thirty financial institutions in the world. NAB branches are located in ten countries… read more.
History of NAB
The National Bank of Australasia, headquartered in Melbourne, was founded in 1858. It expanded its presence within Australia over the next thirty-five years, but closed for a brief time during the 1893 financial crisis. National Bank of Australasia reopened that same year as a public limited financial institution. In 1981, it merged with the Commercial Banking Company of Sydney Limited and became The National Australia Bank. The National Australia Bank acquired several banks throughout its history. Offices and branches have been opened in Asia, Europe, and the United States.
Services and Features of NAB Everyday and Savings Accounts
NAB offers seven different everyday accounts, with special accounts for students and retirees. Customers can choose an account according to their specific banking habits, such as frequently writing cheques or making ATM withdrawals. There are three NAB savings accounts and three investment accounts to choose from. Rewards for consistent deposits and no withdrawals and competitive interest rates are some of the features of NAB savings accounts. There is also a savings account especially for young children.
Visa Credit Cards
National Australia Bank customers have a choice of four different Visa credit cards. The credit cards have varying interest rates and annual fees. Features include cash bank incentives, rewards, and special low introductory interest rates for balance transfers.
Home Loans
There are eight different home loans available through NAB. These include home equity loans and lines of credit based on the owner’s home equity. There are loans for first-time buyers, buyers purchasing their next homes, owners searching for funds to renovate their existing home, and investment properties. The ratio of loan amount to home value ranges from ninety to one hundred percent. Consumers can select a fixed or variable rate home or choose to combine these rates in a split home loan.
Personal Loans
NAB customers can apply for personal loans for a variety of purposes. Car loans are available up to $80,000 with either fixed or variable rates. Students can secure loans up to $20,000 with payments deferred up to five years. Overdraft loans ensure customers never overdraw their NAB accounts. Personal loans can be managed online, over the phone, or at one of the NAB branches.
Insurance Policies
NAB offers a full range of insurance policies. Home, landlords’,car, travel, loan repayment, and life insurance policies are all available. Customers receive discounts for applying online and for purchasing both home and car insurance policies. Businesses can purchase insurance policies to protect their business assets and income as well as group insurance policies for their employees.
Services for Businesses and Corporations
NAB offers financial services for businesses as well as corporations. Everyday accounts, savings accounts, Visa credit cards, insurance, investment vehicles, and business loans are all available. NAB provides advice and information to help owners make their businesses a success.