Things to know about splitting your loan

  • You can’t split a home loan where there are three or more borrowers on the home loan.
  • The loan must be split into variable and fixed rate portions, not into different variable rate portions (e.g. 50% variable and 50% variable).
  • It takes up to 2 business days to be finalised.
  • If you have a joint home loan, the second person on your account will need to review and approve the change.
  • You should understand the differences between fixed and variable interest rates before making the change.

Steps to split your home loan

  1. Log into the NAB app on your device.

  2. Tap on the home loan you want to split.

  3. Tap on the Manage button.

  4. Eligible customers can tap Split your home loan .

  5. Review the information, scroll down and tap Yes, let’s start.

  6. Split your home loan by entering the amount you want your new fixed loan to be. 

  7. Tap Continue.

  8. Review your split home loan and tap Continue to fixed rate options.

  9. Choose the term of your new fixed loan.

  10. Tap Review Changes.

  11. Review the changes and tap Review loan terms.

  12. Read the important information. Select the check boxes and tap Agree and submit to consent.

  13. Your home loan will be processed to be split.

  14. To finish, tap Ok, got it.

Changing a joint loan’s interest rate

  1. Follow the previous steps to make changes to your home loan interest rate.

  2. The second person on the account will be notified via SMS that they need to review and approve any changes.

  3. They’ll need the latest version of the NAB app and a personal login.

  4. They must review the change within 48 hours (the request expires after 48 hours).

To review the change, the second person will have to:

  1. Log into the NAB app.
  2. Select your home loan account and tap Manage.
  3. Review the change waiting for approval and select Approve or Decline.

Don’t have the NAB app?

Download the app today for a more convenient banking experience.

Important Information

NAB Choice Package eligibility

Important: The NAB Choice Package Home Loan is no longer available for sale from 23 February 2023 for broker customers, from 17 March 2023 for retail (direct to bank) customers and from 18 August 2023 for customers with a Business or Private Wealth relationship with NAB, unless they have a current NAB Choice Package which is established before the respective off-sale date (and which remains ongoing).

These products are issued by National Australia Bank Limited.

NAB recommends you consider the NAB Internet Banking terms and conditions document, before making any decisions regarding this product.

The NAB Mobile Banking app is compatible with Android and iOS, minimum platform requirements apply. Android is a trademark of Google LLC. The Google Logo is a registered trademark of Google Inc. iOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license.