Changes to NAB Variable home loan rates effective 11 October 2019.

NAB has announced it will lower its variable home loan interest rates as of Friday 11 October 2019.

  • Owner Occupier Principal and Interest will reduce by -0.15% p.a.
  • Owner Occupier Interest Only will reduce by -0.15% p.a.
  • Investor Principal and Interest will reduce by -0.15% p.a.
  • Investor Interest Only will reduce by -0.30% p.a.
  • Line of credit will reduce by -0.30% p.a.

Special offers

The variable interest rate reduction also applies to NAB’s Base Variable Rate Home Loan special offer for new lending. The variable rate will decrease to the following on 11 October 2019:

  • Owner Occupier Principal and Interest rates from 3.20% p.a.
  • Investor Principal and Interest rates from 3.50% p.a.
  • Investor Interest Only rate from 3.65% p.a.

How will this decision change my repayments?

NAB will automatically adjust your home loan interest rate to reflect the change on 11 October 2019.

If you are making Principal and Interest repayments

  • NAB will not automatically reduce your minimum repayments when there is a decrease in rate.
  • You can choose to let your repayments remain the same, so you could pay off your home loan sooner.
  • If you would like to reduce your repayments, please speak to your banker after 11 October 2019.

If you are making Interest Only repayments

  • You won’t have to do anything. Your interest payments will automatically decrease with the rate reduction.

How can i check my repayments and home loan interest rate?

You can view your current home loan repayment amount and interest rate in the NAB App or NAB Internet Banking.

NAB App

  • Log in to the NAB App and select your home loan from the list of accounts
  • On the account screen, tap the manage button in the top right-hand corner
  • Your interest rate can be found under ‘Loan Details’

NAB Internet Banking

  • Log into your internet banking account
  • Select your home loan and head to ‘Account Details’
  • Your interest rate can be found under ‘Loan Details’

I would like more information. who can I speak to?

If you would like more information, speak to your home loan specialist at any NAB branch, call us on 13 22 65 or visit our Home Loan Interest Rates page which will be updated on 11 October 2019 to reflect the changes.

Important information

All new home loan variable rates are effective 11 October 2019 and are subject to change at any time. Nab.com.au will be updated to reflect the changes to our variable rate home loans.

Fees and charges are payable. Terms, conditions and lending criteria apply.

© National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.

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