NAB Tailored Home Loan – Variable Rate

Rates and fees last updated on

Take advantage of a full featured variable rate loan with one of Australia's largest banks

The NAB Tailored Home Loan - Variable Rate offers a competitive interest rate and many additional features, including a 100% offset account that allows you to save on interest.

For other terms and conditions please visit the NAB website for more details.

350K NAB Rewards points offer

Customers with an eligible NAB Home Loan and Banking Bundle can earn 350,000 NAB rewards points, which can be used on flights to specific destinations or on a gift card worth up to $1,800. To take advantage of this offer you will need to have an eligible NAB home loan, rewards credit card and transaction account.
Offer ends 31 December 2017. Conditions apply.
Interest Rate Max Insured LVR Max LVR
Investor (Interest Only)
6.25% p.a.
Comparison Rate
6.11% p.a.
95% 80%
Investor (P&I)
5.8% p.a.
Comparison Rate
5.93% p.a.
95% 80%
Owner Occupier (Interest Only)
5.77% p.a.
Comparison Rate
5.58% p.a.
95% 80%
Owner Occupier (P&I)
5.24% p.a.
Comparison Rate
5.37% p.a.
95% 80%
Product NameNAB Tailored Home Loan - Variable Rate
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$20,000
Maximum Loan Amount$10,000,000
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$600
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$8 monthly ($96 p.a.)
Settlement Fee$0
Discharge Fee$350

Pros

  • You can borrow up to 95% of the property value
  • You can link a 100% offset account to this loan
  • There is also a redraw facility

Cons

  • There is $600 application fee to pay
  • A $8 per month account fee applies
  • A discharge fee of $350 applies when you close your home loan account

Details to consider about the NAB Tailored Home Loan - Variable Rate

This loan is available to both owner-occupiers and investors, and can be used for purchase, refinance and construction. It has a high maximum loan-to-value ratio (LVR) of 95%.

Features of the NAB Tailored Home Loan - Variable Rate

The NAB Tailored Home Loan - Variable Rate offers a variety of features that allow you to further save money, including:

  • Flexible repayments. The NAB Tailored Home Loan - Variable Rate allows you to choose how you pay the loan off. You can choose between weekly, fortnightly and monthly repayments, though if you choose to make interest-only repayments, they must be made monthly. This allows you to tailor the repayments to suit how your income is paid to you. You can also make additional repayments without penalty.
  • Loan-to-value ratio (LVR). The NAB Tailored Home Loan - Variable Rate allows you to borrow up to 95% of the value of the property. Be aware, though, that borrowing more than 80% of the property's value will result in paying a lenders mortgage insurance (LMI) premium.
  • Redraw facility. If you make additional repayments you can access these funds at anytime with a minimum redraw amount of $500.
  • 100% offset account. An offset account allows you to deposit your savings into a transaction account that offsets the amount on which interest is charged. This can save you money over the term of your loan.
  • Split facility. The NAB Tailored Home Loan - Variable Rate allows you to split the home loan into two separate portions and enjoy the features of both home loans.
  • Loan portability. If you have to move homes, the NAB Tailored Home Loan - Variable Rate allows you to take your loan with you. This can save you time and the costs associated with applying for a new home loan.

Fees

  • Application fee: $600. This fee is charged upfront and covers the cost associated with processing your application.
  • Monthly service fee: $8. This fee covers the administrative costs of your home loan account.
  • Settlement fee: $0. This fee is charged at your home loan settlement.

How can I apply for this loan?

Clicking the 'Go to Site' buttons on this page will securely take you to the NAB website from where you can lodge an enquiry for this loan. A lending expert from NAB will then contact you back to begin your application and discuss your options.

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This page was last modified on 27 October 2017 at 4:59pm.

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NAB Tailored Home Loan - Variable Rate

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $600 / $8

  • Max LVR

    80%

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