Interest rates for home lending
Interest rates for new home loan contracts as at Monday, 13 November 2017. Interest rates are used to calculate interest and are the advertised indicator rates for the home loans plus/less any margins
Advertised indicator rates are used to calculate the interest rates, being described in NAB’s loan contracts as our advertised rates.
Fixed rate *^
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Explanation of interest rates
Having trouble understanding the difference between interest rate, comparison rate and advertised (indicator) rate? HereвЂ™s an explanation:
Advertised (indicator) rate: This is a rate used as a base for calculating an interest rate being described in our loan contracts as our advertised rate.
Interest rate: This is used to determine the interest rate charged on individual loan products. The interest rates shown here are our current standard rates and donвЂ™t include special rates that you may be able to ask for. The Interest rate is the advertised indicator rate for the home loan plus/less any margins.
Comparison rate: This is a rate which shows as a single figure our current standard interest rate for the loan plus certain standard fees and charges (not all fees and charges are included). This is to help you compare the cost of loans.
Residential investment: This includes purchasing, refinancing or renovating a residential investment property.
1 Discount Offer Terms and Conditions
The Discount Offer (вЂњthe OfferвЂќ) is a discount of 0.19% p.a. off the advertised 2 years Package Fixed Rate for Home Loans indicator interest rate.
The Offer is available where the following 3 criteria apply:
- On a new 2 year fixed rate NAB Tailored Home Loan вЂ“ Choice Package вЂ“ Principal and Interest home loans of $150,000 or more
- For owner occupier first home buyers who have never previously purchased a property; all applicants for the loan must be first home buyers
- For new purchases of residential properties only.
The Offer is available from 16 March 2017 until withdrawn by NAB (вЂњOffer PeriodвЂќ). To be eligible for the Offer, you must apply during the Offer Period, be approved and settle within the time period set out in your loan offer.
The Offer is not available on NAB Variable Rate Home Loans (including where you change from the fixed rate to a variable rate during the 2 year fixed rate term). The Offer is available for new lending only. The Offer is not available for any loan refinance, variation or change of loan purpose of any existing NAB home loan.
The Offer will permanently cease to apply to any otherwise eligible NAB Home Loan on the earlier of:
- the conclusion of the 2 year fixed rate term, whether due to expiry of the term or early termination; or
- any economic cost event occurs under the loan (such as early repayment during the fixed rate term; or where you change to another fixed interest rate with a new fixed rate period during the 2 year term); or
- your loan ceases to be part of a NAB Choice Package
To be eligible for the Offer, a maximum loan to property value ratio (LVR) of 90% applies.
The Offer is not available in conjunction with any other discount offer that may apply to NAB Home Loans from time to time.
Fees and charges are payable. Terms, conditions and lending criteria apply. Rates and information current as at 13 November 2017 and subject to change. NAB Tailored Home Loan fees, charges, terms and conditions are available on request. View the NAB Choice Package fees, charges, terms and conditions. Annual package fee may apply. Choice Package discounts and benefits only apply whilst your loan is part of a NAB Choice Package.
Comparison rates are based on a 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.
Rates are subject to change at any time. To find out more, call into a NAB branch or call 13 13 12 for information on personal lending rates or 13 10 12 for information on business lending rates. Terms and conditions, fees and charges, and normal lending criteria apply. Full details of these and relevant terms and conditions are available on application.
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