1 Comparison rates are based on a secured loan of $150,000 over a term of 25 years.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
View our NAB Choice Package Terms and Conditions (PDF, 268KB)
When you apply for the NAB Choice Package, you must include in the package a minimum of $150,000 in eligible lending products (which are existing or approved lending).
2NAB Home Loan Cash Bonus
To be eligible for the NAB Home Loan Cash Bonus:
- between 1 January 2020 and 30 June 2020, customers need to either:
- drawdown a new NAB home loan by $250,000 or more, or increase the limit of an existing NAB home loan (and draw it down) by $250,000 or more (New Lending Cash Bonus), or
- refinance an existing home loan to NAB of $250,000 or more (Refinance Cash Bonus), and
- the primary (first named) home loan applicant must hold a NAB personal transaction account at the time the Cash Bonus is to be paid.
Eligible customers will receive $2,000 with the New Lending Cash Bonus and $4,000 with the Refinance Cash Bonus.
The New Lending Cash Bonus and the Refinance Cash Bonus are collectively referred to as the “Cash Bonus”.
We’ve set out the full eligibility criteria for the Cash Bonus offer below.
NAB Home Loan
- Drawdown for the New Lending Cash Bonus must occur or the home loan refinance to NAB for the Refinance Cash Bonus must be settled (as the case may be) between 1 January 2020 and 30 June 2020 inclusive (“Offer Period”).
- The Cash Bonus is only available to new and existing NAB customers who drawdown new or additional lending of $250,000 or more, or refinance an existing home loan from another financial institution of $250,000 or more into an eligible NAB Home Loan product.
- The Cash Bonus is available on all NAB Home Loan products excluding lines of credit, the NAB Portfolio Facility, the NAB Private Portfolio Facility, and loans for building and construction purposes.
- The Cash Bonus is not available for refinances of existing NAB, uBank, Medfin or Advantedge home loans.
- The Cash Bonus is not available for new lending or refinances into uBank, Medfin or Advantedge home loans.
- The Cash Bonus is only available to borrowers who are individuals, and covers both owneroccupiers and residential investors.
- Businesses, trusts, non-resident borrowers and other non-natural persons are ineligible for the Cash Bonus.
- The Cash Bonus is not available for home loans where the guarantor (if any) is not an individual.
- The New Lending Cash Bonus and the Refinance Cash Bonus are both limited to one Cash Bonus per customer. This means a customer can receive at most $6,000 under the Cash Bonus offer.
Eligible customers can receive a maximum of one Cash Bonus under the Cash Bonus offer per secured property.
For example, an eligible customer can receive at most:
- One payment of $2,000 under the New Lending Cash Bonus in respect of a secured property and one payment of $4,000 under the Refinance Cash Bonus in respect of a separate secured property; and
- The customer will not be eligible for further Cash Bonuses in respect of further NAB home loans entered into (or refinanced to NAB) during the Offer Period.
- Where there is a split home loan in respect of a secured property, eligible customers can receive a maximum of one Cash Bonus under the Cash Bonus offer in respect of that home loan.
- Where there is a joint home loan application, only the primary home loan applicant will receive the Cash Bonus under the Cash Bonus (if eligible).
- In the case of joint applicants, if one joint applicant has received a Cash Bonus under either the New Lending Cash Bonus or the Refinance Cash Bonus in the Offer Period for a different loan, then both joint applicants will be ineligible to receive a further Cash Bonus under the New Lending Cash Bonus or the Refinance Cash Bonus (as applicable).
NAB Personal Transaction Account
- At the time of drawdown for the New Lending Cash Bonus or settlement of the refinanced home loan under the Refinance Cash Bonus, the primary (first named) home loan applicant must hold a NAB personal transaction account and continue holding it for at least the next 90 days.
- The NAB personal transaction account must be open at the time the NAB Home Loan Cash Bonus is to be credited to the account.
- The NAB Home Loan Cash Bonus will be credited to the NAB personal transaction account of the eligible applicant within 90 days of drawdown of the home loan or settlement of the refinanced home loan (as the case may be).
- Where there are joint applicants, the bonus will be deposited into the account of the primary (first named) applicant.
Other Important Information
- Any other product offers from NAB (including the Base Variable Rate Application Fee Waiver or Credit Card offers that are made by NAB from time to time) are independent from this NAB Home Loan Cash Bonus and customers can benefit from multiple NAB offers (if they meet the applicable eligibility criteria) unless the Terms & Conditions of the applicable offer expressly state otherwise.
- A change to an existing NAB Home Loan with no new lending over $250,000 which results in a new account number does not qualify as an eligible refinance.
- Terms, conditions, fees, charges, eligibility criteria and lending criteria apply for all NAB products (available on request).
Correct as at 22 November 2019.
NAB may vary this offer (including extending the Offer Period) or end this offer at any time without notice.
© 2019 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686
3 Special First Home Buyer Offer Terms and Conditions
The Discount Offer (“the Offer”) is a discount of 0.10% p.a. off the advertised 2 years Package Fixed Rate for Home Loans indicator interest rate, for borrowers making principal and interest repayments.
The Offer is available where the following 4 criteria apply:
- On a new 2 year fixed rate NAB Tailored Home Loan – Choice Package – Principal and Interest home loans of $150,000 or more
- For owner occupier first home buyers who have never previously purchased a property; all applicants for the loan must be first home buyers
- For new purchases of residential properties only, excluding standalone loans for vacant land
- Maximum Loan to Value ratio (LVR) 90% applies
The Offer is available from 12 July 2019 until withdrawn by NAB (“Offer Period”). NAB may vary or end this offer at any time without notice. To be eligible for the Offer, you must apply during the Offer Period, be approved and settle within the time period set out in your loan offer.
The Offer is not available on NAB Variable Rate Home Loans (including where you change from the fixed rate to a variable rate during the 2 year fixed rate term). The Offer is available for new lending only. The Offer is not available for any loan refinance, variation or change of loan purpose of any existing NAB home loan.
The Offer will permanently cease to apply to any otherwise eligible NAB Home Loan on the earlier of:
- the conclusion of the 2 year fixed rate term, whether due to expiry of the term or early termination; or
- any "economic cost event" occurs under the loan (such as early repayment during the fixed rate term; or where you change to another fixed interest rate with a new fixed rate period during the 2 year term); or
- your loan ceases to be part of a NAB Choice Package
Other Important Information
- The Home Buying Bonus is limited to a single $2,000 Home Buying Bonus per home loan application and per security. This means that:
- where there are joint applicants on a particular home loan application, the $2,000 Home Buying Bonus is only payable once to the primary applicant (provided all other eligibility criteria are met); and
- where there is a split loan for one security, the applicant is only eligible for the $2,000 Home Buying Bonus once.
- During the period between 17 June 2019 and 31 December 2019, an individual may only be eligible for either the $2,000 Refinance Bonus or the $2,000 Home Buying Bonus offer if drawing down the same security.
- A customer may receive the Home Buying Bonus multiple times if they draw down on further loans for different properties/securities during the Offer Period, provided all other eligibility criteria are met.
- Terms, conditions, fees, charges eligibility criteria and lending criteria apply for all NAB products (available on request).
- Individuals (including any joint applicant) who received the NAB $1,250 bonus or the NAB $2,000 Refinance Bonus in 2018 or 2019, as well as NAB staff, may also be eligible for this Offer, provided all eligibility criteria are met.
- A change to an existing NAB Home Loan which results in a new account number does not qualify as an eligible refinance.
Correct as at 5 August 2019
NAB may vary or end this offer at any time without notice.
NAB’s Home loan products are not available to applicants who reside overseas (regardless of citizenship) and/or for applicants who require Foreign Investment Review Board (FIRB) approval to purchase residential property in Australia.
NAB’s Fixed Rate Home Loan products do not come with an interest offset facility.
NAB does not offer an interest offset arrangements for Fixed Rate Home Loans.
Information and rates are correct as at 30 August 2019 and are 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. Fees and charges are payable. National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB).