How NAB is helping home owners

As many of our customers deal with the growing challenges of Coronavirus (COVID-19), our priority is clear: to support you in any way we can.

Please see the options we have available to assist you with your home loan repayments, or explore our FAQs for more information.

Pausing your home loan repayments

To support you in managing your home loan, eligible customers may, on a case-by-case basis, still be able to pause their repayments. However, no repayment pause will be permitted to end later than 31 March 2021.

If you require support with your home loan repayments, please call 1300 683 106 to discuss your options.

Alternatively, if you are already on a repayment pause and feel you need additional support, please talk to us to discuss the options that may be available and suitable to your situation. Eligibility will be determined on a case-by-case basis.

Please be aware that the contact centre is currently experiencing high demand and response times are longer than usual.

How a repayment pause works

  • Eligible customers may, on a case-by-case basis, still be able to pause their payments. However, no repayment pause will be permitted to end later than 31 March 2021.
  • Eligibility criteria applies to all NAB home loan customers, including owner-occupiers and investors financially affected by COVID-19 who have either principal and interest or interest-only repayments, variable or fixed rate loans. Note: this excludes line of credit (NAB FlexiPlus and Portfolio Facility) and interest in advance products.
  • During a repayment pause, interest continues to accrue on your loan and there is no change to the way interest is calculated. This simply defers repayment obligations. Further details will be provided when we discuss this with you and will be confirmed in a letter once a repayment pause is approved.
  • If you are already on a repayment pause and feel you need additional support, please talk to us to discuss additional options that may be available. Options include restructuring your loan, accessing your redraw or offset, utilising your savings or extending your repayment pause for up to an extra four months. Eligibility will be determined on a case-by-case basis.
  • Your available redraw is adjusted throughout the life of your loan, based on the difference between your actual loan balance and your scheduled loan balance to ensure you repay your loan by your contracted loan term. This adjustment may mean your available redraw at the end of the repayment pause is lower than the available funds in redraw prior to the repayment pause.

Further support

Please call NAB Customer Care on 1300 683 106 between Monday to Friday 8am-8pm or Saturday 9am-1pm (AEST/AEDT) if you wish to discuss.

Changing repayments and accessing available funds

If you’re ahead of your home loan repayments, then you might be able to reduce your current repayments, use your offset or redraw facility to get access to additional money.

Check your home loan balance

  • Log into the NAB app.
  • Select your home loan from your account list.
  • On the banner screen you can view available redraw – this is the amount you are ahead of your required repayments.

Change your repayment amount

  • Log into the NAB app.
  • Select your home loan from the account list.
  • Tap the Scheduled tab.
  • Select the repayment you wish to change (direct debit or transfer).
  • Tap Modify and follow the steps to change repayments.

Note: You’ll need an existing NAB direct debit or a recurring transfer set up from a NAB account to use the app. If you need help, you can submit a request for support online with our specialist team. Alternatively, you can contact us on 13 22 65 for support.

Please be aware that the contact centre is currently experiencing high demand and longer than usual response times.

Access your available redraw

  • Log into the NAB app.
  • Select your home loan from your account list.
  • On the banner you can view your available redraw.
  • On the top right of the screen tap Redraw, then follow the steps.

Note: You must be paid ahead by more than $500 to access redraw on the app.

Access your offset balance

  • Log into the NAB app.
  • Select your home loan from your account list.
  • On the top right of the screen tap Manage.
  • Scroll down to linked offset accounts.
  • This will show you the amount you have available in your offset.

If you do not have the NAB app, you can download it via the App store or Google Play. Alternatively, you can contact us on 13 22 65 for support.

Please be aware that our contact centre is currently experiencing high demand and longer than usual response times. The quickest way to make changes is via the NAB app.

Get repayment certainty with our new low interest fixed-rate loans

NAB has announced lower interest rates on selected new fixed-rate loans effective from Wednesday 25 March 2020. The changes will affect customers who apply for a new Choice Package (annual fee of $395) fixed-rate home loan and are making principal and interest repayments.

If you would like more information, visit our home loan interest rates page.

FAQs for home loan support

Am I eligible for a repayment pause?

These support measures are designed for those who may be in financial difficulty as a result of COVID-19 with eligibility criteria applied. If you require any support for your home loan, please call 1300 683 106 to discuss.

Please note that a home loan repayment pause currently excludes Line of Credit (NAB Flexiplus and Portfolio Facility) and Interest in Advance products.

Does a home loan repayment pause affect my credit history?

If your loan is up to date at the time you obtain a repayment pause, your credit file with reporting bodies (particularly in relation to your repayment history information) won't be adversely affected by your repayment pause.

If your home loan(s) are in arrears, at the time of your request:

  • you won't be eligible for a repayment pause or a further repayment pause; but
  • we may be able to give you other hardship support.

Regardless of your current position, if you need assistance, please call us on 1300 683 106.

Can I still make partial repayments during my repayment pause?

Yes, you can make one-off or partial repayments during your repayment pause. As interest continues to be charged to your loan during the pause period, partial payments will reduce the amount of interest charged.

What happens after the repayment pause period on my home loan?

Once the repayment pause period is complete, you will return to your standard repayments payable under your contract. At some stage after your repayment pause, if your loan balance is higher, we may need to increase your repayment amount to ensure you repay your loan within the loan term. If we need to do this, we will write to you about this.

If you have a repayment pause, your loan term remains the same.

Will interest still apply?

While you do not pay repayments during the pause period, interest continues to accrue on your loan and there is no change to the way interest is calculated.

At the end of the repayment pause, the loan balance may increase and the repayment amount may need to change as a result (i.e. the amount required may be higher than current repayments and will incur a higher amount of interest over the life of the loan). This is to ensure the loan will be repaid within its contracted term.

What is the difference between redraw and offset?

If redraw and offset options are available under your NAB home loan, it is important to remember they operate differently.

Redraw allows you to access available loan funds if you have made additional repayments above your scheduled minimum repayments. Redraw is usually available while your NAB home loan account has a variable interest rate and you have made more than one additional repayment. As mentioned above, the amount you can redraw at any time is adjusted throughout the life of the loan, based on the difference between your actual loan balance and your scheduled loan balance. This means you may not always be able to redraw an amount equal to the full amount you have paid ahead.

With an offset arrangement:

  • we link your NAB home loan to your NAB transaction account
  • while your loan interest rate is a variable rate, interest is charged on the difference between your actual loan balance and the credit balance in your linked transaction account.
  • the funds in your transaction account remain your funds to use as you wish.

Can I get a rate reduction on my existing fixed rate loan?

Customers with fixed rate loans will not see a change to their existing fixed rate or repayments. Like normal processes, customers with existing fixed rates who want to access a new fixed rate will need to break the current fixed rates. If applicable, break costs will apply.

Will I still be charged home loan fees (such as Choice Package annual fee, monthly fees) during the pause period?

Yes, fees will continue to apply during the repayment pause period.

If fees are charged to your nominated transaction account, this will still happen.

If fees are charged to your home loan account, this will also still happen. However, you won’t be required to make payments during the pause period. Instead, your loan balance will be higher as a result of any fees incurred during the pause period. This may result in higher repayments and interest being charged over the remaining life of the loan.

What happens during my repayment pause?

If you’re on repayment pause that’s four months or longer, we’ll get in touch to find out how you’re tracking. About halfway through your repayment pause, you’ll receive an SMS from us to check-in. If your situation has improved and you would like to restart your repayments, we’ll give you the option to cancel your pause early. If you decide to keep going with your repayment pause, we’ll give you a call to talk about the options available to you once your pause has ended.

Can I cancel my repayment pause?

If you would like to cancel your repayment pause early, you can contact us on 1300 683 106.

How do I make repayments during my repayment pause?

You’re welcome to start making partial repayments during your repayment pause if you feel comfortable to do so. Simply transfer the amount you can afford into your home loan or offset account. Remember, it’s always best to pay off as much as you can to avoid additional interest charges after your pause has finished.

Am I eligible for the four-month extension on my repayment pause?

Not all repayment pause customers are eligible for an extension. Please contact NAB Assist on 1300 683 106. if you would like to speak to a banker about options available to you.

My repayment pause has finished. Can I apply for another one?

No, you are not eligible to take out a new repayment pause if you have already had one. If you need additional support, please contact NAB Assist on 1300 683 106.

How we're supporting you

As we all come to terms with the growing challenges of the COVID-19 pandemic, our focus is clear, to support you with your financial needs in any way we can for both business owners and home owners.

two women doing online banking

Guidance during COVID-19

Read how to bank with us and stay safe and avoid COVID-19.
florist at work

Increased COVID-19 support for business

Read how we can support your business during these challenging times.
mother and son on laptop

COVID-19 support for credit card customers

Read about the support we’re offering our credit card customers.
man checking his phone

COVID-19 support for personal loan customers

Read how we’re supporting Personal Loan customers during Coronavirus.
man and women doing business meeting in cafe

Banking with NAB through COVID-19

Find updates on banking online and in person during COVID-19.
eftpos payments

Contactless payments

Reduce your physical contact when you shop in-store with contactless payment.

Important information

NAB’s Fixed Rate Home Loan products do not come with an interest offset facility.

Information is correct as at 25 March 2020 and is subject to change. Applications for credit are subject to NAB’s credit approval criteria. Terms and Conditions apply to all NAB products and are available on application or by calling us. Fees and charges are payable. National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB).