Rural Aussies may get savings account boost

Wednesday 25 November 2009

Article by Mozo

People living in rural Australia may soon have better access to their savings accounts.

National Australia Bank (NAB) has announced it is to expand distribution across the countryside as part of an agreement with real estate group and agricultural merchandiser Ruralco Holdings.

According to an AAP report, the alliance will provide access to the bank for the latter firm’s 100,000 customers

Furthermore, from next year the partnership will offer a co-branded seasonal finance product as a form of credit – something that may be worth considering for those looking to compare credit cards.

Ruralco managing director John Maher commented: "This will allow us to better support our customers’ business needs."

He went on to say that it would also enhance finance activity off the balance sheet and release capital to use in projects emerging in the sector.

This week, NAB chief Cameron Clyne said more people are turning to the institution for products such as low interest home loans and savings accounts after it announced the abolition of its penalty fees.

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