The lowdown on home loan top-ups
The benefits
Topping-up (increasing your loan amount) allows you to access the equity accrued in your house. Like a redraw, you can use a top-up for all sorts of expenses. These include:
- home improvements
- consolidating debts
- purchasing a new car
- paying for a wedding
- funding your children’s education.
A big benefit of a top-up is that it can be cheaper than other types of borrowing. This is because home loans generally have lower interest rates than personal loans or credit cards.
Things to keep in mind
Opting for a top-up on your loan means that you are increasing your mortgage. This means you’ll need to consider:
- how much this will extend the life of your loan
- how much your repayments will increase by
- whether you can budget for this with your other financial commitments.
Finally, the amount you can borrow depends on your personal financial situation, the value of your property, and your bank's standard lending criteria.
How much equity do I have in my home loan?
By increasing your home loan amount you may have equity available to put towards other projects. Use our handy equity loan calculator to see how much equity you have accrued in your home loan.
Need help choosing a home loan?
Answer a few questions to help choose a suitable home loan using our selector tool.
Explore other life moments
Understanding our different types of home loans
We explain all of our different loan types and packages.
Our home loan dictionary
A glossary of home loan terms to cut through the jargon.
Understanding economic costs on a fixed rate loan
Learn all about a low rate fixed home loan before you lock yourself in.
Related products and services
Home loans
Home loans for every need with tools, calculators and guides to help you choose.
Credit cards
Compare between our credit cards to find the right one for you.
Personal loans
You can use our personal loan to get the car you want, consolidate your debts or for something else, like a new motorbike, boat, or renovation.
Contact us for home loan related queries
This is how you can get in touch.
Start a conversation with a banker
- Log into either NAB Internet Banking or the NAB app.
- Tap on the message icon.
- Type ‘speak to a person’ in the conversation window.
Call us
Speak to a home loan expert about a new or existing home loan.
Monday to Friday, 8:00am to 7:00pm (AEST/AEDT)
Saturday to Sunday, 9:00am to 6:00pm (AEST/AEDT)
Book an appointment
Make an appointment to see us at your nearest branch, ask a mobile banker to come to you or ask us to call you back.
Terms and Conditions
Apologies but the Important Information section you are trying to view is not displaying properly at the moment. Please refresh the page or try again later.
The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial and taxation advice before acting on any information in this article.