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NRMA Insurance Home Loans

Whether you want to live in or rent out, NRMA Insurance has both fixed and variable home loans for you with an optional add-on offset account.

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NRMA is an insurance provider which also offers 2 types of home loans: fixed home loans and variable home loans.

Compare NRMA home loans for October 2024

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Name Finder Score Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
NRMA Insurance Home Loan logo
Principal & Interest 2Y Fixed10% min. depositOwner-occupierOffset account
NRMA Insurance Home Loan logo
Principal & Interest 2Y Fixed10% min. depositOwner-occupierOffset account
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Product NameNRMA Insurance Fixed Home Loan
Interest Rate TypeFixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.54%
Comp. Rate p.a.5.93%
Minimum Loan Amount$50,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.54%
Comparison Rate
5.93%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$857
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NRMA Insurance Home Loan logo
Principal & Interest 1Y Fixed10% min. depositOwner-occupierOffset account
NRMA Insurance Home Loan logo
Principal & Interest 1Y Fixed10% min. depositOwner-occupierOffset account
Go to site
Product NameNRMA Insurance Fixed Home Loan
Interest Rate TypeFixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.84%
Comp. Rate p.a.6.01%
Minimum Loan Amount$50,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.84%
Comparison Rate
6.01%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$885
Go to site
NRMA Insurance Home Loan logo
Principal & Interest10% min. depositOwner-occupierOffset account
NRMA Insurance Home Loan logo
Principal & Interest10% min. depositOwner-occupierOffset account
Go to site
Product NameNRMA Insurance Variable Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.98%
Comp. Rate p.a.6.02%
Minimum Loan Amount$50,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.98%
Comparison Rate
6.02%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$899
Go to site
NRMA Insurance Home Loan logo
Principal & Interest10% min. depositInvestmentOffset account
NRMA Insurance Home Loan logo
Principal & Interest10% min. depositInvestmentOffset account
Product NameNRMA Insurance Variable Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.39%
Comp. Rate p.a.6.54%
Minimum Loan Amount$50,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.39%
Comparison Rate
6.54%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$939
NRMA Insurance Home Loan logo
Principal & Interest10% min. depositInvestmentOffset account
NRMA Insurance Home Loan logo
Principal & Interest10% min. depositInvestmentOffset account
Product NameNRMA Insurance Variable Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.39%
Comp. Rate p.a.6.43%
Minimum Loan Amount$50,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
6.39%
Comparison Rate
6.43%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$939
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NRMA Insurance Home Loan key facts:

  • NRMA is an insurance provider which also offers home loans through its partnership with Bendigo and Adelaide Bank.
  • To be eligible for an NRMA Insurance home loan you must live in a capital city or major regional centre, outside of Victoria.
  • The application process for an NRMA Insurance home loan is fully digital.

NRMA Insurance Home Loan features

Here are some of the key features to know about NRMA's home loan options:

FeatureDetails
Deposit sizeYou will need a deposit of at least 10% to get a NRMA home loan.
Optional offset accountYou can choose to have a 100% offset account attached to your home loan for a fee of $10 a month.
Loan typesYou can choose an owner-occupier loan or an investment loan, with variable and fixed rate options.
Repayment optionsNRMA home loans are available as principal and interest repayments or interest only.
Loan termThe minimum loan term available is 10 years and the maximum is 30 years.
Loan amountYou can borrow from $50,000 up to $3 million.
RedrawThere's no limit to the amount you can redraw, as long as they are coming from your additional repayments. There's no fee for electronic redraw but a $50 fee for manual.
Split accountsYou can split your loan up to 5 times.

How do I apply for an NRMA Insurance home loan?

When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.

Eligibility

The eligibility criteria for an NRMA Insurance home loan is as follows:

  • Age. You must be over 18 years of age.
  • Residency. You should be a permanent resident or citizen of Australia.
  • Employment. You should have a regular source of income.
  • Location. Your property must be in a capital city or major regional centre.
  • Property type. The property must be an established property, not land or off plan.

Documents required

When you apply for a mortgage with NRMA you will need to provide the relevant documentation.

Property details.

You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.

Identification documents.

You will need identification such as a driver's licence, passport or birth certificate.

Proof of income documents.

Recent payslips can establish your income.

Proof of employment.

You must be able to verify your employment. Different forms of verification are acceptable for employed, self-employed and casual workers.

Financial situation.

Being completely online, NRMA has capability for you to connect your bank statements digitally. Alternatively, you can manually upload the required documents, which may bank transactions, loan statements and credit card statements.

More home loan questions

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Senior writer

Rebecca Pike is Finder's senior writer for money. She joined Finder after almost four years writing for business publications in the mortgage and finance industry, including three years as editor of Mortgage Professional Australia. She regularly appears as a money expert on programs like Sunrise and Today, as well as across radio and newspapers. She also holds ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products. See full bio

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Rebecca has written 198 Finder guides across topics including:
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