Exhibit 99.21

MBNA MASTER CREDIT CARD TRUST II SERIES 1996-K

KEY PERFORMANCE FACTORS
November 30, 1996



Expected B Maturity 11/17/03


Blended Coupon 5.5567%



Excess Protection Level
3 Month Average 2.97%
November, 1996 2.97%
October, 1996 N/A
September, 1996 N/A


Cash Yield 17.01%


Investor Charge Offs 4.12%


Base Rate 9.92%


Over 35 Day Delinquency 4.38%


Seller's Interest 15.65%


Total Payment Rate 11.72%


Total Principal Balance $22,372,660,639.66


Investor Participation Amount $1,000,000,000.00


Seller Participation Amount $3,500,733,121.17