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A home loan with the certainty of a fixed rate for Australian Defence Force members1.
NAB Defence Force Home Loan - Fixed Interest Rate offers a range of terms from 1 - 5, or 10 years. At the end of the fixed rate period the loan converts to the NAB Defence Force Home Loan - Variable Rate. You can make up to $20,000 in additional prepayments per fixed rate period without paying prepayment fees and economic cost.2
| Product overview |
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| Additional repayments without prepayment fees2 |
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Up to $20,000 during the fixed rate period and unlimited when the rate is variable. |
Redraw (minimum
$2000)3 |
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Access 'extra' cash after the fixed rate period if you're ahead of scheduled repayments. |
| Repayment holiday |
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Take a break from repayments if you're ahead of scheduled repayments. |
| 100% offset |
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Not available. |
| Maximum loan size as % of property value |
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Borrow up to 95% of the property's value so you don't have to wait until you've saved a large deposit. |
| Flexible repayment options |
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Weekly, fortnightly or monthly. |
| Can be used for building |
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Not available for building. |
| Split loans |
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You can take out two different loans at the same time with the same security and pay just one application fee.4 |
| Interest only payment option |
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Not available |
| Portability |
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If you buy another home, you could keep the same loan and secure it against your new home. |
Available as part of
Choice Package |
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Combine your banking needs into one convenient package for great discounts. |
| Interest rates |
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Please refer to fixed rate home loans (NAB Tailored Home Loan) section on the Interest Rates for Home Lending. |
| Additional features |
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Rate Lock - You can lock in the fixed interest rate that is quoted at the time of loan approval for up to 3 months, giving you added certainty.5 |
1NAB Defence Force Home Loan is only available to ADF members eligible for a home loan under the Defence Home Ownership Assistance Scheme. (approval is subject to NAB's credit assessment criteria).
2Additional prepayments above this amount may attract prepayment fees and economic costs. If you prepay the loan in full during the fixed rate period, the prepayment fee is, and the economic costs may be, payable. Prepayment in full within four years from the settlement date will incur an Early Exit Fee.
3 Redraw is available after the fixed rate period (i.e. when the rate becomes variable).
4Application fee waived for loans contracted by 30 June 2009.
5Rate lock fee payable. Fee available on request.
Fees and charges are payable. Terms and conditions apply and are available on request from NAB.
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