Compare home loans
| NAB Base Variable Rate Home Loan | NAB Tailored Home Loan | NAB Home Equity Line of Credit |
NAB Flexiplus Mortgage | NAB Portfolio Facility |
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| Apply now Close column |
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| Description |
Simple home loan with a low rate and no monthly fees |
Competitive line of credit you can access electronically |
Flexible line of credit for personal use |
Flexible line of credit with up to 12 sub-accounts5 |
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| Feature | Low fees | Flexibility | Wealth creation | Wealth creation | Building Wealth | ||||
Rates and fees |
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| Interest rate | View interest rate | View interest rate | View interest rate | View interest rate | View interest rate | ||||
| Interest rate options |
Variable, variable interest only, split |
Line of Credit? |
Line of Credit? - Fixed and variable rates |
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| Service fee |
Nil |
$8 per month |
$8 per month3 |
$250 p.a. |
$550 p.a. |
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| Application fee? | $600 | $600 | $600 | $600 | $0 | ||||
Features – variable rate loans |
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| 100% offset? |  |
7 |
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| Redraw? | |
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| Building conditions available? |
6 |
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Features – lines of credit |
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| Withdraw funds | 1 |
1 |
1 |
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Repayment options |
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| Additional repayment ? | |
2, |
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2 |
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| Repayment holiday? | |
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Features – all home loans |
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| Family guarantee? | |
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| Suitable for self employed  |
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| Available as part of Choice Package |
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| Maximum loan to property value? |
95%4 | 95%4 | 90%4 | 90%4 | 90%4 | ||||
| NAB Base Variable Rate Home Loan | NAB Tailored Home Loan | NAB Home Equity Line of Credit |
NAB Flexiplus Mortgage | NAB Portfolio Facility |
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| Apply now | Apply now | Apply now | Apply now | Apply now | |||||
Additional Information:
- Withdrawals at any time up to the approved limit.
- Economic costs may be payable if additional repayments are greater than $20,000 or full repayment is made during a fixed rate period.
- Service fee only payable when limit utilisation for the month falls below 80% at any time during that month
- LMI payable for LVR greater than 80% (for low doc home loans, LMI is payable when LVR is greater than 60%)
- Available only via NAB Portfolio Package or Private Portfolio Package
- Available on interest only loans for 1 or 2 years
- Available on variable rate sub accounts only
Home Loan Glossary
Application fee
A fee paid by a borrower for setting up a loan. Application fees are not payable for Packages.
100% offset
Helps reduce interest costs on a loan by linking the loan to a transaction or deposit account. The balance in the transaction account ‘offsets’ the loan principal. Interest is then calculated on the loan principal minus the balance in the account. For example, if the principal on the loan is $180,000 and there is $5000 in the transaction account, then interest is only calculated on $175,000.
Redraw
A loan feature that allows the withdrawal of funds from a loan, if the borrower has made additional repayments.
Line of credit
A fully functional transaction account that has a credit limit attached to it. The borrower can generally withdraw funds at any time, up to the credit (or facility) limit. (If the credit limit is attached to more than one account, the borrower may only be able to draw up to the account limit on each account.) There is usually no fixed repayment schedule; however, the borrower is usually required to make payments to at least cover the interest and fees on the loan.
Repayment holiday
If a borrower is ahead in their repayments, they can apply for a break in making loan repayments.
Additional Repayment
An extra repayment made to a loan, outside of the scheduled repayments.
Family Guarantee
A promise by a third party (eg. Family Member) to meet a borrower’s payment obligations if they are unable to pay.
Building conditions apply
Allows for a NAB home loan to be used when building a new house or renovating a house. The loan allows for the money to be progressively accessed (drawn down) as the building progresses. BICOE functionality is available on selected variable rate loans.
Maximum loan to property value
The total amount of the loan divided by the appraised value of the property. For example, if a property is valued at $300,000 and the loan amount is $240,000 then the LVR is 80%.
