"The commitment we give is that we'll be competitive," Mr Clyne said after unveiling the bank's full year 2009 profit result.
NAB posted a 42.9 per cent fall annual profit to $2.589 billion to September 30 after bad debt charges surged to $3.8 billion.
Mr Clyne said the bank's view was that the official cash rate, currently at 3.25 per cent, may settle 200 basis points below the top of the last cycle - at 5.25 per cent.
NAB has "no immediate plans" to move outside the RBA's last move, he said.
Mr Clyne in May called for a debate on interest rates and today said there was a need for the debate to be anchored on the real cost of bank funding rather than the perceived cost.
NAB announced it will pay shareholders a final dividend of 73 cents per share, fully franked.
This was a drop of 48 cents, or 24.7 per cent, on the previous year's total dividends.
The payout ratio fell from 80.6 per cent in 2007/08 to 73.6 per cent in 2008/09.
Mr Clyne confirmed to reporters that the dividend was paid out of reserves rather than earnings.
Bank in Florida is 100th to close this yearAustralia Post profit dives
