NAB Flexiplus Mortgage with Choice Package

Rates and Fees verified correct on December 4th, 2016

Access a flexible line of credit and enjoy a discounted interest rate with the NAB FlexiPlus Choice Package

The NAB FlexiPlus Mortgage Facility combines a transaction account and a linked home loan account, providing a flexible line of credit that you can use for residential or investment purposes. While available in regular form, the NAB FlexiPlus Mortgage is also available in an NAB Choice Package, which adds a discounted interest rate to help you enjoy significant savings over the life of your loan.

Other features of the NAB FlexiPlus Choice Package include no application or service fees and the ability to make unlimited deposits and repayments, as well as discounts on home insurance and a Qantas Rewards Premium Credit Card with no annual fee.

Product NameNAB Flexiplus Mortgage with Choice Package
Interest Rate TypeVariable
Interest Rate (p.a.)5.54%
Comp Rate^ (p.a.)
Minimum Loan Amount$20,000
Maximum Loan Amount$10,000,000
Minimum Loan Term1 year
Maximum Loan Term40 years
Maximum LVR95%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest and Interest Only Options

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

Pros

  • High maximum LVR of 95%
  • Make withdrawals at any time

Cons

  • Annual fee of $395

Things to consider about the NAB FlexiPlus Choice Package

The NAB FlexiPlus Choice Package is available for borrowers buying either owner-occupied or investment properties. It’s designed as an all-in-one banking facility to make your finances easier to manage, combining the convenience of an everyday transaction account with the flexibility of a line of credit loan.

With no application or service fees to worry about with the package, it offers a 0.15% p.a. discount off the standard variable rate that applies to the NAB FlexiPlus Mortgage Facility. Unlimited deposits and repayments can be made without incurring any fees, while withdrawals can be made at any time up to the limit of your facility. No principal repayments need to be made unless you reach the limit of your facility, meaning you only have to pay interest on the funds you use.

Both PAYG and self-employed borrowers are eligible to take out this loan.

Features of the NAB FlexiPlus Choice Package

  • Maximum loan amount. The maximum credit limit you are allowed will be determined upon loan approval.
  • Maximum LVR. You can borrow up to 95% of the value of the property you are buying.
  • Deposit your salary straight into your loan. You can deposit your salary and earnings into your account to reduce the amount of interest you will have to pay on the line of credit.
  • Interest rate discount. Borrowers who take out an NAB FlexiPlus Choice Package can enjoy a 0.15% p.a. interest rate discount off the standard variable rate that applies to the FlexiPlus Mortgage Facility.
  • Repayment flexibility. As mentioned above, this package allows you to make unlimited extra deposits into your transaction account and unlimited extra repayments towards the money you borrow. No principal repayments are required unless you reach the limits of your facility while interest is charged monthly to the account you nominate.
  • Make withdrawals at any time. Because this loan offers a line of credit, you can make withdrawals at any time up to the facility limit.
  • Other discounts. Package customers can enjoy one free month of NAB Home Insurance or NAB Residential Investor Insurance every year, as well as a waived annual fee on an NAB Qantas Rewards Premium Credit Card.

Fees

Fees you can avoid

  • Application fee: $0
  • NAB Qantas Rewards Premium Credit Card annual fee: $0
  • Extra repayment fees: $0

Fees you can’t avoid

  • Annual package fee: $395. You’ll need to pay this charge every year in order to access the discounted interest rate and a range of other package benefits.
  • Mortgage discharge fee: $350. This covers the administrative cost and preparation of documents required to discharge your loan.

How to apply for the NAB FlexiPlus Choice Package

If you’ve compared the NAB FlexiPlus Choice Package with other home loans on the market and have decided it sounds perfect for you, click ‘Apply Now’ to be securely redirected to the NAB website. You can then fill out an online enquiry form to arrange a time to discuss your borrowing needs with an NAB representative.

You’ll need to provide the following details:

  • Your name
  • Your email address and phone number
  • Your postcode
  • The type of loan you want to take out
  • When you need the loan
  • How much you wish to borrow

You can then arrange a time to discuss your needs with an NAB home loan specialist.

The NAB FlexiPlus Choice Package offers a host of benefits and discounts to help you save money on your home loan and a selection of other products.

NAB Flexiplus Mortgage with Choice Package Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 4 April 2016 at 17:42.

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NAB Flexiplus Mortgage with Choice Package

  • Interest Rate

    5.54% p.a.

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $395

  • Max LVR

    95%

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