|
National Australia Bank has expanded its range of home loan options with the launch of a simple and affordable, variable rate home loan designed for first home buyers. With no ongoing service fees and a one-off fee ($600), the National Interest Saver Home Loan is designed for those who want to pay off their home loan quickly and save on fees and charges. National Interest Saver will be available from Monday, July 3, at a rate of 7.3% per annum, which is less than the standard variable rate of 7.8% per annum. It is expected to have strong appeal for first home buyers and those looking to take advantage of the Federal Government's $7000 First Home Owner Grant Scheme. The First Home Owner Grant Scheme has been established by the Federal Government to help offset the impact of the Good & Services Tax (GST) for those building or buying their first home. Commenting on the National's new home loan, Mr Mike Pratt, Chief Executive Officer - Australian Financial Services, said: "National Interest Saver has been designed to offer home loan customers the best of both worlds. "It's an affordable and a flexible home loan solution. There are no ongoing service fees and customers have a choice of different payment options. Home loan repayments can be made weekly, fortnightly or monthly using direct debit, salary crediting and funds' transfer via telephone banking, Internet banking or deposit book. "You can reduce your home loan at any time without penalty and redraw funds if you need to for a small fee," Mr Pratt added. A further bonus for customers who borrow more than $20,000 via a National Interest Saver Home Loan is that they pay no transaction fees on their National bank accounts*. The addition of National Interest Saver to the National's range of home loans (National HomeOwner's Package, National Tailored Home Loan Package, National FlexiPlus and Professional's/Investor's Choice Packages), creates an extensive suite of home loan solutions which can be tailored to the needs of any customer. *Does not apply to non National ATM transactions.
|
