Take advantage of a full featured variable rate loan with one of Australia's largest banks
The NAB Tailored Home Loan - Variable Rate is a great variable rate loan that offers you a great interest rate and many additional features including a 100% offset account that allows you to save on interest.
Velocity Frequent Flyer Points Offer
Take out a new home loan product with NAB before 31 December 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.
|Product Name||NAB Tailored Home Loan - Variable Rate|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$20,000|
|Maximum Loan Amount||$10,000,000|
|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||No|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$0|
|Ongoing Fees||$8 monthly ($96 p.a.)|
- 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
- There is $600 application fee to pay
- A $8 per month account fee applies
- A discharge fee of $150 applies when you close your home loan account
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. This allows you to tailor the repayments to suit how your income is paid to you.
- Loan amount. The NAB Tailored Home Loan - Variable Rate allows you to borrow up to 80% of the loan. This is a comparatively large amount and is handy if you are not able to save up a deposit in time to buy the home of your dreams.
- Make additional repayments. If you make additional repayments on the loan you will not only pay off your loan faster but you will reduce the amount of interest that is charged to your loan. The NAB Tailored Home Loan - Variable Rate allows you to make as many additional repayments as you like.
- Redraw facility. If you make additional repayments you can access these funds at anytime with a minimum redraw amount of $2,000.
- 100% offset account. An offset account allows you to deposit your savings into a transaction account that are then offset against the loan. This will reduce the amount of interest that is charged to the loan which will save you money over the term of your loan.
- Split the loan. The NAB Tailored Home Loan - Variable Rate allows you to split the home loan into two separate portions. By splitting the loan into two separate portions you are able to subject each portion to separate loan types.
- Loan portability. The average 25 - 30 year loan term can be a long time and your circumstances can change during this period. 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.
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.