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Expert review

Marc Terrano

Review by

Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

The NAB Choice Package Fixed Rate Home Loan combines a NAB Tailored Fixed Rate Home Loan with other NAB products a NAB Choice Package, with a discounted interest rate interest rate for eligible borrowers and package benefits on NAB insurance and credit card products. If you're not interested in a fixed rate home loan, you may want to consider the NAB Tailored Home Loan Variable Rate under this package too.

This loan is available to investors, refinancers and first homebuyers.

About this loan

What are the features and benefits of this home loan?

  • Package benefits. As part of the NAB Choice Package, the loan application fee and service fees are waived. You may also be eligible for a discount on the standard fixed interest rate, which is currently discounted at 0.10%. In addition, you may receive discounts or bonuses on other NAB products such as credit cards, insurance and savings accounts.
  • Flexible repayments. You can choose to pay your loan weekly, fortnightly or monthly.
  • Repayment holiday. If you experience financial hardship or you wish to take a break from your mortgage repayments, you may be able to take a repayment holiday.
  • Additional repayments. Additional repayments up to $20,000 can be made without incurring a penalty. However, any extra payments that exceed this amount will incur a fee.
  • Redraw facility. Any additional payments can be redrawn at the end of the fixed rate period, with a minimum redraw amount of $500.
  • Loan portability. This loan is portable, which means if you sell your home, you can bring your home loan with you to the next property you buy. This can save you paying application fees and other mortgage costs associated with setting up a new loan.

What fees and charges come with this loan?

  • NAB Choice Package fee: $395. This is a single annual fee that covers the products bundled under this package.
  • Discharge fee: $350. This fee is charged when you pay out the amount of your loan.

How to apply

If you think the NAB Choice Package Fixed Rate Home Loan matches your borrowing needs click on the green 'Go to site' or 'Enquire' button. You will then be redirected to the NAB website or a page where you can fill in your details to discuss your options with a mortgage broker.

To apply directly with NAB, visit the NAB website. You can place an enquiry online to request an appointment. You can use the live chat feature to speak to a NAB representative, or visit your local branch.

The NAB application process has five stages; application, verification, property valuation, approval and settlement.

Required documentation

When you apply for the NAB Choice Package Fixed Rate Home Loan, you'll need to provide the following:

  • Personal details. You'll need to provide your name, date of birth, residential address and nationality. NAB will need to see 100 points of ID documents. These can include a combination of one primary photographic (driver's licence or passport) and one secondary document (Medicare card).
  • Proof of income. NAB will require you to provide evidence of your income from all sources, including a current bank statement showing the last two salary payments or a letter from your employer.
  • Asset details. You'll need to provide information about any assets that you have (e.g. shares or managed funds).
  • Debt details. NAB will need to see details regarding any debts that you have (e.g. credit cards or personal loans), including repayment amounts.

Home Loan Offers

Important Information*
Logo for Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get $4,000 cashback (Other terms, conditions and exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.49% p.a. and a 2.49% p.a. comparison rate.

Ask an expert

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  1. Default Gravatar
    September 7, 2017

    Hi there,

    What does it mean by “It can only be used for new purchases of residential properties” ? Does it apply to existing property ? Is there an option to split half the loan so that, one half is fixed whereas the other is at variable ? Does the variable portion includes an offset account and at what rate?

    • Default Gravatar
      September 8, 2017

      Hello Darren,

      Here are my responses to your questions.

      1. What does it mean by “It can only be used for new purchases of residential properties” ? Does it apply to existing property ?
      – New purchases of residential properties mean that it can be a newly taken out loan to purchase an existing home, new or old.

      2. Is there an option to split half the loan so that, one half is fixed whereas the other is at variable ?
      – Yes, you have the option to have your home loan split, part fixed and variable through the Choice Package and Tailored Home loan

      3. Does the variable portion includes an offset account and at what rate?
      – You can definitely have access to offset and redraw facilities with our variable rate home loans

      You may also want to get in touch with NAB directly so they can provide you with a personalized quotation.
      Here is the page for NAB’s Home Loan Enquiry Form

      They also have a live chat feature where their agents can answer all your queries real time.

      Hope this helped.


  2. Default Gravatar
    July 22, 2017

    Hello,I have been discharged from bankruptcy for 18 months and am currently self employed.we own two houses in my wife’s names with no debt it possible for us to obtain a loan for another Investment property with our equity in properties being greater than loan amount needed

    • Default Gravatar
      July 22, 2017

      Hello Greg,

      Thanks for writing to us today. :)

      You can check your options on this page. Please take note of the advantages and disadvantages of getting this type of loan. Also, you can speak to a mortgage specialist to receive a thorough advice on other alternatives.

      Hope this helps.


  3. Default Gravatar
    July 17, 2017

    I want to buy a ready made house. With FHOG and some small deposit. Can there be a loan structured to cater to such situation.

    I don’t understand what it means loans over 80% require LMI and how much is that. If I can qualify then I need to get something ready to move by Sept 20th.

    Thank you.

    • Default Gravatar
      July 28, 2017

      Hello Danish,

      Thank you for your inquiry today.

      You can study your options for low-deposit home loans on this page. Please take note that each lender has their own eligibility credit criteria to be met, so it is important that you review them before applying.

      As for the Lenders Mortgage Insurance, it can be an upfront cost or can be paid as part of your loan, especially for those who have are applying for a home loan where mortgage is 80% or more of the property value. This is a separate cost and is required by many lenders to give them an assurance that should unexpected circumstances would happen, the risk of default will be transferred to the insurer. You can learn more about that here.

      Generally, the lesser your deposit is, the higher LMI costs you need to pay as it would mean higher risk for mortgage default.

      Hope this helps.


  4. Default Gravatar
    June 19, 2017

    Just wondering if you are able to consolidate your debts into your home loan. Car credit cards and home. I am on a disability pension and husband works casual as he is my carer

    • Default Gravatar
      June 20, 2017

      Hi Angela,

      Thank you for contacting We are a comparison website and general information service, we’re more than happy to offer general advice.

      For NAB’s debt consolidation options, you may refer to this page. You may also click here for more options.

      I hope this helps.


  5. Default Gravatar
    May 5, 2017

    Looking for a commercial property loan of $600,000, kindly provide required info.

    • Avatarfinder Customer Care
      May 7, 2017

      Hi Dhir,

      Thanks for your question.

      Kindly note that the loan products we feature on are only available to Australian residents. You may want to visit a local lender in your area for your borrowing needs.


  6. Default Gravatar
    December 28, 2016

    Dear Finder,

    I would like to ask whether this particular loan package has an offset account included?

    Thank you

    • Avatarfinder Customer Care
      December 28, 2016

      Hi Kevin,

      Thanks for your question.

      The NAB Choice Package – Fixed Rate Home Loan does not come with an offset facility.

      You can check this page for home loans with offset accounts.


  7. Default Gravatar
    October 17, 2016

    I want to leverage the equity in my house to help my kids buy a unit They would have ownership of their property and I would borrow against my home to help fund it. I own my home and the loan amount would be approximately 50% of a professional valuation of my home and I have adequate income to service the loan. Is this possible with this type of loan?

    • Avatarfinder Customer Care
      October 18, 2016

      Hello Brett,

      Thank you for your question.

      It could be done depending on the amount of equity you have in your current property. I would recommend contacting a mortgage broker directly to help you on this matter.


  8. Default Gravatar
    July 16, 2016


    What would be the “Revert Rate” after the 2-year fixed term finished?

    Many thanks,


    • Avatarfinder Customer Care
      July 18, 2016

      Hi Alex,

      Thank you for contacting we are a financial comparison website and general information service we are not mortgage experts and don’t offer any of the products or services on our website.

      For the NAB National Choice Package Home Loan – 2 Year Fixed, the revert rate starts from 4.5% p.a. depending on loan amount.


  9. Default Gravatar
    June 11, 2016

    What is the minimum percentage I need to have for a deposit? Are there any lenders that will accept 5 of 10%? Thanks

    • Avatarfinder Customer Care
      June 14, 2016

      Hi Amanda,
      thanks for the question.

      This loan requires a minimum deposit of 5%. Please note that if you have less than a 20% deposit on a full documentation loan, you will be required to pay Lender’s Mortgage Insurance (LMI).

      You can compare more loans which only require a 5% deposit in our guide.

      I hope this helps,

  10. Default Gravatar
    March 21, 2016

    I have a mortgage of $376,000 I would like to add $50,000 to pay off my wife, what can I do

    • Avatarfinder Customer Care
      March 21, 2016

      Hi Andrew,

      Thanks for getting in touch.

      I can confirm that you do have the option to increase the amount of your existing NAB home loan. To do this, you’ll need to apply for a loan top-up with NAB directly. You can do this by speaking with a NAB home loan specialist over the phone or by visiting your nearest branch.

      Please note that NAB will take into consideration your income, assets, credit history and any existing debt that you have before approving the loan increase.


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