Exhibit 99.3

MBNA MASTER CREDIT CARD TRUST II SERIES 1994-C

KEY PERFORMANCE FACTORS
January 31, 1997



Expected B Maturity 11/15/01


Blended Coupon 5.7938%



Excess Protection Level
3 Month Average 4.82%
January, 1997 3.71%
December, 1996 5.41%
November, 1996 5.35%


Cash Yield 17.09%


Investor Charge Offs 4.81%


Base Rate 8.57%


Over 35 Day Delinquency 4.60%


Seller's Interest 13.97%


Total Payment Rate 12.21%


Total Principal Balance $ 23,234,782,634.76


Investor Participation Amount $ 1,000,000,000.00


Seller Participation Amount $ 3,245,155,116.27