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National lowers interest rates



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^ N a t i o n a lAustralia Bank M edia R elease

G rcrap C o rp o ra te R e la tio n *

National Australia Brink Viewed AON 0ύ4(ιΉ927

300 Poutke Scci: Melbourne Victoria 3000 Australia

Te'evhor.e (0.3) O-ii 3buZ Facsimile (03) S41 1955

National lowers interest rates National Australia Bank will lower interest rates on fixed rate home loans and fixed rate personal loans, effective Monday, 15 May, 1995.

The reductions follow the significant easing of wholesale rates in recent weeks.

Commenting on this week’s Budget, the National's economists stated that the current interest rate cycle appeared to have peaked.

Effective Monday, the National will lower fixed rate home loan interest rates by at least 0,5%. It is die third time the National has Cut fixed rate home loan rates since early April and brings the cumulative reduction to 1% or higher.

Fixed rate personal loan interest rates will be reduced by 1.0%) to between 10.95% pa and 13.45% pa.

Rates will also be reduced on a range of term deposits.

New fixed-rate home loan interest rates, effective 15 May, 1995 are as follows:

Term New Rate Change

1 year (owner-occupier) 9 .7 5 % pa. -0.50% pa.

1 year (investor) 9.95% pa. -0.60% pa.

(owner-occupier and investor rates are aligned for all other berms) 2 years 10.25% pa. -0 .5 0 % pa.

3 years 10.25% pa. -0.50% pa.

4 years 10.25% pa. -0.50% pa.

5 years 10.25% pa. -0.50% pa.

In addition, the National will lower the interest rate on its two-year fixed rate home loan, available as part of the National Tailored Home Loan package, from 9.95% pa. to 9.25% pa. The onc-year fixed rate alternative with the Tailored Home Loan Package remains unchanged at $.25% pa.

12 May 1995

C ontact; H.E. (Haydn) Park (03) 641 3857

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