OREANDA-NEWS. National Australia Bank has been named Bank of the Year 2016 in the Money Magazine’s Consumer Finance Awards. In addition, NAB has received the Canstar award for Most Satisfied Customers.

The Bank of the Year award, which was judged by customers, recognises NAB for the everyday banking products that make banking easy and simple for its customers, as well as the bank’s strong focus on customer service.

The judges commended NAB’s products, including:

  • NAB classic banking account, which has no monthly account fees
  • NAB Choice Package, in which customers only pay one annual fee across all their everyday banking products and get discounts on home loans and insurance
  • NAB’s Base Variable home loan, with no ongoing monthly fees and a redraw option

Gavin Slater, Group Executive Personal Banking, said the awards recognise the hard work of the 36,000 people at NAB who are firmly focused on supporting customers.

“Our people are passionate about making banking easy and personal for our customers.” Mr Slater said. “This award is testament to the hard work they put in to understanding our customers’ needs and improving the customer experience.”

Every year, Money Magazine partners with research partner Canstar to evaluate more than 15,000 financial products and services from more than 140 financial institutions for the Consumer Finance Awards. The Bank of the Year Award is for the financial institution deemed to be best in their field and going above and beyond for their customers.

Mr Slater said the award was a step towards NAB’s goal of becoming the most respected bank in Australia and New Zealand.

“This award is validation that we are improving our service for customers and I couldn’t be prouder.”