New commission available for NAB QuickBiz Loans and NAB QuickBiz Overdrafts
We are excited to let you know of the new Commission rates available on NAB QuickBiz Loans and NAB QuickBiz Overdrafts from today, Monday 30 April 2018. NAB is continuing to build out its digital capability for Brokers. NAB QuickBiz can help Brokers' customers access up to $100,000 in unsecured business financing. NAB QuickBiz will be available from nabbroker.com.au from tomorrow.
These new Commission rates will be included in Schedule 5 of the NAB Broker Agreement. We will provide the updated drafting of the revised Schedule 5 in due course. Please see table below for the new Commission rates disclosure.
Updated Schedule 5 Commission disclosure
The following new Commission Rates will be included in the Commissions Rate table in Schedule 5:
|Upfront Commission Rate
|Trail Commission Rate (% p.a.)
NAB QuickBiz Loan
NAB QuickBiz Overdraft
|2.2%, ink of GST
The NAB Broker Product Schedule available in the NAB Broker Guide available on NABBroker.com.au will be updated to include these changes.
In the meantime, please retain this letter as a short-term variation to Schedule 5 of the NAB Broker Agreement.
Electronic Lodgement for Small Business
NAB has launched Apply Online for small business lending - a marketing-leading innovation for your brokers. This means that over the next couple of weeks brokers will be able to lodge small business deals up to $2 million via Apply Online in your Aggregator software. Our team has been working closely with your team to launch this capability, please also reach out to John Shillington John.A.Shillington@nab.com.au 0459 821 319 if you need further information.