Home loans

Only eligible NAB Home Loans can benefit from an interest offset arrangement including the NAB Tailored Variable Rate Home Loan. For example, Fixed Rate Home Loans and Base Variable Rate Home Loans with NAB do not benefit from an interest offset arrangement. The potential benefits you could gain from using a NAB offset facility will depend on many factors including the amount of funds in your offset account and how long the funds are in your offset account. You will not earn interest on the account balance of your transaction account whilst it is linked to a home loan under an interest offset arrangement. A NAB Classic Banking account can be used as an offset account.
 

Comparison rates are based on a secured loan of $150,000 over a term of 25 years

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Application Fee Waiver Offer Terms and Conditions

The Application Fee Waiver Offer ("The Offer") is a waiver of the Application Fee of $600 on a new Base Variable Rate Home Loan.

The Offer is available from 1 November 2019 until withdrawn by NAB. NAB may vary or end this offer at any time without notice. To be eligible for the Offer, an application must be submitted during the period that the offer is available and then approved, and drawn down within the time period set out in the applicant's loan offer.

The Offer is available for new lending only (including refinances and limit increases for existing borrowers). The Offer is not available for any variation or change of loan purpose of any existing NAB home loan where a new application is not required.

Home loan comparison calculator – Calculator Assumptions

The information provided in the calculator (including indicative interest rates and minimum repayments amounts) should be used as an estimate only and are based on the information you put into the relevant fields.

We have made a number of assumptions when producing the calculations including:

• Fees: We have not taken into account any fees or charges when determining the minimum loan repayment. Other bank fees, government fees and Choice Package fees may apply and would increase the overall cost of the home loan.
• Loan term and borrowing amount: We assume the loan term is 30 years and the borrowing amount is what you enter into the calculator.
• Your loan to value ratio (LVR): Your loan to value ratio has been calculated using the property value and borrowing amount that you have entered into the calculator. When submitting an application for new lending, your LVR and pricing may change following the valuation of your property.
• Interest rates: We assume that the displayed interest rate is the rate that will apply to your loan for the full loan term – even if you choose:
  • a variable rate; or
  • a fixed rate or interest only rate which, in practice, will only apply for a limited period after which a different rate will apply.

For NAB products, the rate that will initially apply to a loan will be the prevailing rate for the product at the drawdown of the loan (subject to any rate lock arrangement).

As rates are subject to change, the rate that is current for a product today may not be the rate that actually applies to your loan.

At the end of any fixed rate period, you’ll roll on to the prevailing variable rate for your home loan product with your loan characteristics. The new interest rate may be higher or lower than the interest rate that applied during the fixed rate period (and this will, in turn, impact the minimum repayment amount).

At the end of any interest only period, your interest rate may be adjusted to reflect the prevailing interest rate for your home loan with your loan characteristics, and the minimum repayment amount will increase as you will need to repay both principal and interest.

We have made the following assumptions when calculating the indicative minimum repayment amount:

• Minimum repayment amounts are calculated on a monthly basis. If you have chosen to view a weekly or fortnightly minimum repayment amount, we have taken the monthly minimum repayment amount, multiplied it by 12 and then divided it by 26 (for a fortnightly amount) or 52 (for a weekly amount). As there are not exactly 26 fortnights, or 52 weeks, in a year, this is not a precise conversion.
• Interest is charged to the loan account at the same frequency and on the same day as the repayments are made (this may not be the case for your loan).
• Only your initial minimum repayment amount is calculated. We assume that this repayment amount is payable for the loan term which may not reflect your home loan arrangement. Repayment amounts can change for a variety of reasons, including to reflect interest rate changes and any changes to your repayment type. Repayments will also change at the end of any fixed rate period or interest only period as noted earlier. This calculator does not take these changes into account, and the information provided is a guide only.