Two banks change rates

NATIONAL Australia Bank and the Challenge Bank have increased some deposit and fixed home loan interest rates.

The NAB’s interest rates on term deposits for amounts of $100,000 or more have been increased by a maximum of 0.3 per cent.

Fixed home loan rates for periods of up to ten years have also increased by a maximum of 0.3 per cent.

Challenge Bank has bucked the trend and dropped interest rates on one year fixed rate home loans from 6.99 to 6.90.