Combine all your financial products under one annual fee and minimise your banking stress
The NAB Choice Package reduces some of the fees and charges that are usually associated with a home loan and transfers them all into one annual payment of $395. In addition to the elimination of fees, the NAB Choice Package also offers you discounts on other financial products, including credit cards and insurance.
For other terms and conditions please visit the NAB website for more details.
350K NAB Rewards points offerNAB is offering new home loan customers 350,000 NAB Rewards points when they apply for an eligible NAB Home Loan and Banking Bundle before 31 August 2017.
The minimum eligible borrowing amount is $250,000. The home loan must be drawn down by 30 November 2017 and must not be a refinance from NAB or new lending or refinancers from UBank or Advantedge.
Please visit NAB's website for full terms and conditions.
|Product Name||NAB Choice Package Variable Rate Home Loan|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$150,000|
|Minimum Loan Term||1 year|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$124.36|
|Ongoing Fees||$395 p.a.|
- There is $0 application fee.
- You can borrow up to 95% of the property value.
- You receive additional discounts off transaction fees with transaction accounts, plus bonus interest on deposit accounts.
- There is $395 annual fees to pay.
- A discharge fee of $350 applies when you pay off your entire loan balance.
- Lender's legal fees start from $124.36.
Features and benefits of the NAB Choice Package
The NAB Choice Package offers many features and discounts in return for the annual package fee. These include:
- A 100% offset account. This loan is offered with a 100% offset account, which can reduce the interest you'll pay on your home loan when money is deposited into it.
- Make extra repayments. You can put extra cash towards this loan, which can help you save interest and pay it off sooner.
- High maximum LVR. This loan allows for a maximum LVR of 95%, meaning you could require a deposit of as little as 5% with this loan. Note that borrowing with a deposit or equity of less than 20% of the purchase price/value of a property will come with lenders mortgage insurance (LMI) costs.
- Flexible repayment choices. You can choose to make interest-only repayments for up to 5 years with this loan, or 10 if you're an investor. You can also make your repayments weekly, fortnightly or monthly. If you select interest-only repayment options you'll have to make repayments each month.
- Interest rate discounts. The NAB Choice Package offers discounts on the standard NAB variable rate.
- Discounts on fees. A single annual fee eliminates some of the fees that are charged to the loan account, including the application and service fees.
- No credit card fees. The package waives annual fees on the NAB Qantas Rewards Premium Credit Card.
- Lower premiums in insurance products. The NAB Choice Package offers you a 10% on NAB Home Insurance or Home Insurance Essentials and a 10% discount on NAB Car Insurance.
There are no application fees with the Choice Package Variable Home Loan but there are other fees to be aware of:
- 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 payable once you pay out your loan.
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How can I apply for this loan?
You can find out more, enquire or apply for the NAB Variable Rate Choice Package by clicking the 'Go to Site' buttons on this page. This will securely take you to the NAB website, where you can enter in some details to talk to an expert about the loan and what options you may have.