NAB Choice Package Variable Rate Home Loan

Rates and Fees verified correct on October 24th, 2016

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 manageable annual payment of $395. In addition to the elimination of fees, the NAB National Choice Package also offers you discounts on other financial products that may be worth considering including credit cards and insurance.

Velocity Frequent Flyer Points Offer

Take out a new home loan product with NAB before 31December 2016 and then make NAB your main bank and they will give you 250,000 Velocity Frequent Flyer points.

The loan must be for owner occupier purposes and be over $250,000 excluding line of credit and portfolio facilities. You must draw down on the loan before 31 March 2017 and also take out a NAB Velocity Rewards Credit Card and NAB transaction account.

Interest Rate Max Insured LVR Max LVR
$250k to $749,999 P&I (Owner Occupier)
4.4% p.a.
Comparison Rate
4.79% p.a.
95% 95%
$750k+ P&I (Owner Occupier)
4.35% p.a.
Comparison Rate
4.75% p.a.
95% 95%
Up to $250K P&I (Owner Occupier)
4.65% p.a.
Comparison Rate
5.04% p.a.
95% 95%
$250k to $749,999 P&I (Investor)
4.55% p.a.
Comparison Rate
4.94% p.a.
90% 95%
$250k to $749,999 Interest Only (Investor)
4.65% p.a.
Comparison Rate
4.95% p.a.
90% 80%
$250k to $749,999 Interest Only (Owner Occupier)
4.5% p.a.
Comparison Rate
4.80% p.a.
95% 95%
$750k+ P&I (Investor)
4.5% p.a.
Comparison Rate
4.89% p.a.
90% 95%
$750k+ Interest Only (Investor)
4.6% p.a.
Comparison Rate
4.90% p.a.
90% 95%
$750k+ Interest Only (Owner Occupier)
4.45% p.a.
Comparison Rate
4.75% p.a.
95% 95%
Up to $250k Interest Only (Investor)
4.9% p.a.
Comparison Rate
5.19% p.a.
90% 95%
Up to $250k Interest Only (Owner Occupier)
4.75% p.a.
Comparison Rate
5.04% p.a.
95% 95%
Up to $250K P&I (Investor)
4.8% p.a.
Comparison Rate
5.19% p.a.
90% 95%
Product NameNAB Choice Package Variable Rate Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options

Application Fee$0
Lender's Legal Fee$124.36
Ongoing Fees$395 p.a.
Settlement Fee$0
Discharge Fee$350


  • 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 Lender's 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, which can suit investors looking to make tax savings or those looking to reduce their mortgage costs temporarily. You can also make your repayments each week, fortnight or month to suit how you receive your income. 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 Variable, Fixed, and FlexiPlus home loans.
  • Discounts on fees. The one-off annual fee eliminates some of the fees that are charged to the loan account including the application and service fees.
  • No transaction fees. You can also receive discounts on fees charged for your transaction account. This will eliminate the monthly service fees, transaction fees and any fees associated with using non-NAB ATMs.
  • Lower premiums in insurance products. The NAB Choice Package offers you a discount of one month off your NAB Home and Residential Investor insurances.

Binny Singh


NAB Choice Package



Fees you can avoid

  • Application fee $0. This fee is charged to cove the costs of setting up the loan account.
  • Lender’s Mortgage Insurance. This is paid when you borrow LVR over 80%, so can be avoided if you borrow less than this.

Fees you can’t avoid

  • 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.

Find out what your repayments might be in a few seconds

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.

NAB Choice Package Variable Rate Home Loan Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 30 June 2016 at 16:17.

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6 Responses to NAB Choice Package Variable Rate Home Loan

  1. Default Gravatar
    amber | March 4, 2015

    Do. I need a kerbside evaluation on an existing home loan, to gain unconditional approval for another additional home loan?

    • Staff
      Shirley | March 4, 2015

      Hi Amber,

      Thanks for your question.

      Unconditional approval will depend on many factors including the valuation of your existing home loan. You’ll find that a valuation will be required for a re-assessment of your new loan.

      If you would like to discuss your eligibility or options, please get in touch with NAB directly.


  2. Default Gravatar
    Marcia | February 18, 2015

    If I have a guarantor that is approved, am I able to borrow up to 100% of the property value and avoid the LMI premium ?

    Many thanks


    • Staff
      Shirley | February 18, 2015

      Hi Marcia,

      Thanks for your question.

      Please note that is an online comparison service and does not represent NAB. Assuming that your guarantor is approved for the loan amount that you’re seeking, you should be able to avoid LMI.


  3. Default Gravatar
    Reno | October 23, 2014

    I am looking at purchasing another investment property. I currently have 6 units and I have purchased another 2 which should be finished by mid November.
    I am looking at borrowing $345,000. my investment loans have been through a broker and he used ANZ and Westpac so far. I am looking for a better deal so I am wondering what can you do for me?

    • Staff
      Shirley | October 24, 2014

      Hi Reno,

      Thanks for your question.

      Unfortunately doesn’t handle any loan applications for NAB. If you decide to apply for a product or service through our website you will be dealing directly with the provider of that product or service and not with us.

      To see what NAB can offer you, please get in touch with them directly.


NAB Choice Package Variable Rate Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $0 / $395

  • Max LVR


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