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NAB changes fixed rates for home loans

Posted: 17 January 2017 8:17 am
News

coins percent upNAB has changed the interest rates on its fixed rate home loan products, making cuts to some while raising others.

The bank announced it would decrease the rate on its 1 year Package Fixed Rate to 3.89% for owner-occupiers and 3.99% for investors.

Along with the cuts, NAB also announced it would lift rates on its 2, 3 and 4 year Package Fixed Rates for owner-occupiers to 3.98%, 4.09% and 4.59%, respectively. Its 2, 3 and 4 year Package Fixed Rate for investors will raise to 4.19%, 4.29% and 4.79%, respectively. NAB also lifted its 5year Package Fixed Rate for investors to 4.79%.

“There are a range of factors that influence the funding that NAB – and all Australian banks – source, so we can provide home loans to our customers. The cost of providing our fixed rate home loans has increased over recent months,” NAB COO Antony Cahill said.

Read our full round-up of the latest home loan rate changes

The announced changes apply from today, and affect new fixed rate home loans only. Cahill argued that the bank’s fixed rates remained competitive, and said fixed rates had increased in popularity.

“We know that fixed rate home loans have become increasingly popular with our customers. We saw these applications more than double as a share of total applications in December, compared to in September last year,” Cahill said.

Data indicated here is updated regularly
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Loan purpose
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Loan type
Repayment type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, P&I)
2.14%
2.41%
$395
$0 p.a.
80%
A competitive fixed interest rate loan with no ongoing fees. Requires a 20% deposit.
HSBC Fixed Rate Home Loan - 2 Year Fixed Rate LVR 80% or below (Owner Occupier, P&I)
2.09%
2.98%
$0
$0 p.a.
80%
Lock in a competitive fixed rate for 2 years and buy your home with a 20% deposit.
Virgin Money Reward Me Fixed Rate Home Loan - 2 Year $300k+ Special offer (Owner Occupier, P&I)
2.29%
2.87%
$300
$10 monthly ($120 p.a.)
80%
$2,500 refinance cashback
Buy your home and lock in a low rate for the first two years. Get a $2,500 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 29 August and settle by 28 February 2021.
IMB Fixed Rate Home Loan - 3 Year Fixed (LVR 90% Owner Occupier, P&I, NSW and ACT borrowers only)
2.39%
3.08%
$449
$6 monthly ($72 p.a.)
90%
NSW and ACT customers only. 3 years fixed interest terms and free access to redraw facility online. Available with a 10% deposit.
UBank UHomeLoan - 1 Year Fixed Rate (Investor, P&I)
2.29%
2.84%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
Tic:Toc Live in Loan Fixed Rate Home Loan - 2 Year (Owner Occupier, P&I)
2.09%
2.35%
$0
$0 p.a.
90%
Get a very low interest rate and pay no application, settlement or valuation fees. Apply online for full approval in real time and add a 100% offset account for $10 a month.
Suncorp Home Package Plus Fixed - 2 Year Fixed Rate Special Offer $150k+ LVR ≤90% (Owner Occupier, P&I)
2.29%
3.28%
$0
$375 p.a.
90%
A low fixed rate loan available for borrowers with 10% deposits. Refinance to an eligible Suncorp loan and get a cashback of $2,000 or $3,000, depending on your loan amount. Other conditions apply.
CUA Fixed Rate Home Loan - 3 Year Fixed (Owner Occupier, P&I)
2.49%
3.99%
$600
$0 p.a.
95%
Pay no ongoing fees and lock in your rate for 3 years to organise your budget. Eligible new home buyers with low deposits can apply for the First Home Loan Deposit Scheme with this lender and avoid LMI costs. Eligible refinancers can get a $2,000 pre-paid credit card when they switch to CUA.
Heritage Bank Fixed Rate Home Loan - 2 Year Fixed Rate (Owner Occupier, P&I) New Customers Only
2.59%
4.26%
$600
$8 monthly ($96 p.a.)
95%
Get a partial offset account and the option to make interest-only repayments.
CUA Fixed Rate Home Loan - 3 Year Fixed (Investor, P&I)
2.69%
4.44%
$600
$0 p.a.
90%
Competitive rates for fixed for 3 years with redraw facility. Available with a 10% deposit.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 1 Year Fixed (Owner Occupier, P&I)
2.39%
3.85%
$0
$395 p.a.
95%
$2,000 refinance cashback
Enjoy a competitive rate with no application fee for this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, IO)
2.29%
2.47%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
Newcastle Permanent Building Society Real Deal Home Loan - Special Offer 1 (Owner Occupier, P&I)
2.59%
2.63%
$595
$0 p.a.
80%
$2,000 refinance cashback
$2,000 cashback for eligible refinancers borrowing $250,000 or more.
Heritage Bank Advantage Package - 1 Year Fixed (Owner Occupier, P&I) New Customers Only
2.59%
3.32%
$0
$350 p.a.
95%
Get a partial offset account and flexible repayments with this package loan.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 3 Year Fixed (Owner Occupier, P&I)
2.49%
3.68%
$0
$395 p.a.
95%
$2,000 refinance cashback
A two year fixed rate home loan with no application fees. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, P&I)
2.14%
2.46%
$395
$0 p.a.
80%
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.
Virgin Money Reward Me Fixed Rate Home Loan - 3 Year $300k+ Special offer (Owner Occupier, P&I)
2.29%
2.83%
$300
$10 monthly ($120 p.a.)
80%
A competitive fixed rate mortgage available with a 10% deposit.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 2 Year Fixed (Owner Occupier, P&I)
2.44%
3.76%
$0
$395 p.a.
95%
$2,000 refinance cashback
Enjoy a discounted fixed rate and the ability to package the loan with other financial products. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan - 3 Year Fixed Rate (Investor, P&I)
2.29%
2.74%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
Virgin Money Reward Me Fixed Rate Home Loan - 2 Year LVR < 90 (Owner Occupier, P&I)
2.84%
2.97%
$300
$10 monthly ($120 p.a.)
90%
Enjoy a competitive fixed rate with no application fee.
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier, P&I)
2.54%
3.98%
$595
$0 p.a.
95%
$2,000 refinance cashback
Borrow up to 95% LVR of the value of the property you're buying and pay no ongoing fees. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan - 5 Year Fixed Rate (Owner Occupier, P&I)
2.59%
2.53%
$395
$0 p.a.
80%
A five year fixed rate offer with no ongoing bank fees.
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