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NAB Tailored Home Loan – Fixed Interest Rate

Marc Terrano
Marc Terrano
Last updated:  

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.

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Expert review

Marc Terrano

Review by

Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

The NAB Tailored Home Loan - Fixed Interest Rate helps you work out your budget as it keeps repayments the same over the fixed period and includes many great features to suit everyone.

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. If you make any additional repayments you are able to withdraw them after the fixed period ends. While you are restricted to redraw a minimum of $500 at any one time, you can be sure that any additional funds that you have paid onto the loan can be used on other things if money becomes tight. Furthermore, by depositing more money on the loan you will reduce the interest charged to the account.
  • Split loan. For those who wish to take advantage of the redraw facility throughout the fixed term, a split loan option is available. This is where you allocate a portion of your mortgage to lock into the fixed rate, but you leave the remaining portion on a variable rate. You get to access the more flexible features of the variable component of your loan and you also get to lock in your interest rate on the fixed portion.

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.
If you need more information, click the 'Go to site' button below to get access to this.

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2 Comments

  1. Default Gravatar
    kurtis
    June 22, 2018

    In regards to a defense home loan for $420,000. This will be mine and my partners first home. what would be the minimum deposit required from us. I will have DHOAS and HPAS and the first Home Owners Grant. Do any of these extras help with reducing the amount that is required for the deposit? With regards to saving we’ve heard that the rent receipts can be used as a form of saving.

    we both thank you for your time.

    Reply
    • Default Gravatar
      Arnold
      June 22, 2018

      Hi Kurtis,

      Thanks for your inquiry

      The lowest deposit you need to apply for a Defense Home Loan is 5%. However, NAB may require you additional deposit depending on their assessment of your application including all the other benefits that you are entitled to.

      Regarding the use of rent receipts as a form of savings, according to NAB’s Supporting Documentation and Verification rent receipts is not included on the list of accepted documents.

      For more information about Defense Home Loans and its eligibility requirements, you may directly visit NAB’s Website.

      Hope this information helps

      Cheers,
      Arnold

      Reply
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