The Australian share market has either passed its bottom or is very close to coming out of it. Bank shares have taken an absolute beating in the last couple of months and I’m of the view that they are severely undervalued.
The Bank that I’ve put my money on is the National Australia Bank.
They’ve recently changed their image (and their logo) to move away from being a business bank to something more personal and friendly for the average consumer. They’ve also introduced the ‘every atm is a nab atm’ campaign which I think is an absolute winner and will definitely pull in more market share - I know that if I was to choose a new bank to join, I’d choose the nab just because of that. I remember when atm’s and internet banking were free because it helped the banks reduce their teller numbers. It really irks me that banks have since charged $$$ to cover the ‘costs of maintaining the systems’ - What about the savings in staff numbers?!!!
Whilst you should never buy shares just for the benefits, owning more than 500 nab shares does come with some nice perks:
- no monthly account service fee on NAB classic Banking
- no transaction sfees for NAB internet and phone banking, NAB ATMs, NAB branch and cheque transactions, EFTPOS or NAB Visa Debit within Australia
- bonus 0.25%pa interest on investments in a standard NAB Term Deposit
- Annual card fee waived o selected credit cards (includes standard, velocity, gold, and amex cards)
- no application fees on NAB FlexiPlus Mortgage and NAB Tailored Home Loans
- 5% reduction on MLC Personal Protection Portfolio premium rates for new applications
Nope, I’m not an acreditted financial advisor so insert the standard disclaimer here about seeking your own professional financial advise before actioning on any of my recommendations :)
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