Things you should know about offset accounts

  • Offset accounts are available on variable rate loans and not available during a fixed rate period.
  • You’ll need an eligible transaction account, such as a NAB Classic Banking account, to link as your offset account.
  • Learn how an offset works to make the most out of the account.

Steps to link or change your offset account

  1. Log into the NAB app on your device.

  2. Tap on the home loan you want to add or amend the offset from.

  3. Tap on the Manage button. 

  4. Tap on change your offset account.

  5. Select the account you’d like to link and select Apply.

To view your linked offset account and interest saved, scroll down to the Linked Offset section in your home loan account screen.

Steps to open a new account to use as an offset account

If you don’t have a transaction account that you can link to an eligible home loan as an offset account, you’ll need to open one. You can use the NAB app to easily open a new account.

  1. Log into the NAB app on your device.

  2. Tap More in the menu and tap New account.

  3. Tap Transaction account.

  4. Check your details and tap on the terms and conditions link to read.

  5. Tap Confirm and open account.

You’ll receive confirmation that we’re setting up your account. We’ll let you know when the account is ready to be used.

Once your account is setup and ready, you can then link it to your home loan using the previous steps to link an offset account.

Any person named on the offset account must also be named as a borrower on the loan.

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Important Information

NAB Choice Package eligibility

Important: The NAB Choice Package Home Loan is no longer available for sale from 23 February 2023 for broker customers, from 17 March 2023 for retail (direct to bank) customers and from 18 August 2023 for customers with a Business or Private Wealth relationship with NAB, unless they have a current NAB Choice Package which is established before the respective off-sale date (and which remains ongoing).

These products are issued by National Australia Bank Limited.

NAB recommends you consider the  NAB Internet Banking terms and conditions document, before making any decisions regarding this product.

The NAB Mobile Banking app is compatible with Android and iOS, minimum platform requirements apply. Android is a trademark of Google LLC. The Google Logo is a registered trademark of Google Inc. iOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license.

Calculations are based on an example interest rate and are estimates only. The estimated repayments do not include the monthly loan service fee and the application fee, which are also payable. The estimated repayment reduction is based on the repayment and frequency you input from your current lender/s compared to the calculated repayments and frequency on a NAB Personal Loan. The calculator does not provide estimated interest savings. This means depending on your interest rates and loan terms (current lenders vs NAB) consolidating your debt may mean your repayments are lower but over a longer term so you may incur more interest. You should factor this in when deciding whether debt consolidation is right for you.

The interest rate you get may be different from the example rate. It’s based on several factors including information you provide in your application, your credit history and information we already have about you if you’re an existing customer.

After you submit your application, if you’re conditionally approved, we’ll give you an indicative interest rate. This is subject to verification of the information you give us in your application. We’ll provide your final interest rate in the loan documentation, at which point you can decide to accept the loan offer.

- Minimum interest rate for a variable rate loan is 8.49% p.a. (9.88% p.a. comparison rate) and the maximum interest rate is 20.49% p.a. (21.78% p.a. comparison rate)

- Minimum interest rate for a fixed rate loan is 8.49% p.a. (9.88% p.a. comparison rate) and the maximum interest rate is 20.49% p.a. (21.78% p.a. comparison rate)

The above rates are subject to change.