NAB Tailored Home Loan – Fixed Interest Rate
Lock in a low fixed interest rate and avoid concerns over interest rate increases
The NAB Tailored Home Loan Fixed Rate comes with competitive fixed terms and features to suit your specific home purchasing needs, whether you're a first home buyer or looking for an investment property.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).
These fixed terms can range from one to 5 years; giving you the widest range of options to choose from and when the fixed term expires, there is the option to re-fix for another period of time. Or you could simply let the loan revert to a variable interest rate.
About this loan
What are the features and benefits of the NAB Tailored Home Loan - Fixed Rate?
- Multiple repayment types. Repayments can be principal and Interest repayments or interest-only repayments. Principal and interest customers will benefit by reducing their loan size with each repayment. Keep in mind that rates may be different for interest only borrowers.
- Flexible repayments. There is a choice of the three standard repayment frequencies on this loan; weekly, fortnightly or monthly repayments. You are free to choose the type that most suits your situation whilst keeping in mind that more frequent principal and interest repayments will reduce interest paid over the life of the loan, as interest is calculated daily.
- Additional Repayments. The NAB Tailored Home Loan - Fixed Rate allows you to make additional repayments off the mortgage balance during the fixed term up to $20,000 without incurring any penalties.
- Redraw facility. This loan does not have a redraw facility. But you can redraw extra repayments after the fixed period ends when your loan becomes a variable rate.
Is this loan right for you?
The NAB Tailored Home Loan - Fixed Interest Rate is suitable for anybody purchasing a new home whether it be to live in or for investment purposes, as well as for those who are looking to refinance their existing loan. Investors may want to properly consider if the rigidity of a fixed loan would suit their needs in case they wish to sell during the fixed period as break costs would apply.
How to apply
If this loan sounds as though it's exactly what you're after, you can begin the application process right now by clicking the 'Go to site' button. The light blue box on the right hand side of the page explains what happens after you click the button.
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