Enjoy a $2K Refinance Bonus*

Make your move a little easier with a $2k cash bonus when you refinance your existing home loan to NAB.

An eligible NAB transaction account is required at the time of drawdown. The cash bonus is available on new refinances of $250,000 or more and drawdown must be between 7th September 2020 and the 31st January 2021.

See important information including eligibility and lending criteria in the terms and conditions below.

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Mother and daughter

2.09% p.a. 2 Year Fixed Rate(4.00% p.a. Comparison Rate1)

Enjoy the clarity of a fixed rate home loan today, so you can get on with life. NAB's fixed home loan rate of 2.09% p.a. (comparison rate 4.00% p.a.1) on a 2 year fixed rate NAB Tailored - Choice Package - Principal and Interest loan for owner-occupier borrowers. Minimum lending of $150,000 applies.

See Important Information including the comparison rate warning, below.1

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2.69% p.a. Base Variable And Comparison Rate Offer2

Enjoy the flexibility of an historically low variable rate today.
2.69% p.a. (comparison rate 2.69% p.a.1) on a NAB Base Variable Rate Home Loan when you are an owner occupier making principal and interest repayments with less than or equal to 80% total NAB Lending to Value ratio (LVR).

For customers where LVR is higher than 80%, the special rate is 3.04% p.a. (comparison rate 3.04% p.a.)

We are also waiving the Base Variable Rate Application Fee for new applications, saving you $600!3

See important information including the comparison rate warning below.1

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Couple Discussing

First Home Loan Deposit Scheme

We’re proud to help customers move into their first home sooner, as a participating lender of the First Home Loan Deposit Scheme. Under the scheme, eligible customers can purchase a property with as little as a 5% deposit, and with no Lenders Mortgage Insurance (LMI). New scheme places are available from October 2020 as part of the First Home Loan Deposit Scheme (New Homes), aimed to support customers looking to buy or build a new home.

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The HomeBuilder grant

The Federal Government have announced a $25k grant program for owner-occupiers who are looking to substantially renovate their homes, or build a new home. It aims to boost the residential construction industry, while helping you to build or renovate.

Read more

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Important information

*Refinance Bonus Terms and Conditions

To be eligible for the $2,000 NAB Home Loan Refinance Cash Bonus (Cash Bonus), customers need to be refinancing an existing loan of $250,000 or more and hold a NAB transaction account at the time of drawdown. Specifically, customers need to meet the following criteria to be eligible for the Cash Bonus:

  • Customers must refinance an existing home loan with another financial institution to NAB.
  • The amount being refinanced must be $250,000 or more and drawdown must occur between 7th September 2020 and the 31st of January 2021 (Offer Period).
  • The primary applicant must have a NAB transaction account open at the time of drawdown in order to receive payment of the Cash Bonus and this will be paid automatically within 90 days of drawdown.
  • The offer is available to individual applicants who are owner-occupiers or investors, and excludes refinances of First Home Loan Deposit Scheme loans, non-residents, businesses, trusts and other non-natural persons.
  • The offer 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 offer is only available on refinances from another financial institution (excluding NAB, UBank, Medfin or Advantedge home loans) and is not available for refinances into UBank, Medfin or Advantedge home loans.
  • The offer is only available once per customer within the Offer Period. If a customer refinances more than one loan, they will only receive the Cash Bonus once.
  • Where there is more than one borrower, the Cash Bonus is payable only to the primary borrower. If any of the borrowers have received the Cash Bonus in the Offer Period, no further Cash Bonus will be payable on any future refinance were that individual is a borrower.

Other Important Information about this offer

  • 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 Refinance Cash Bonus offer and customers can benefit from multiple NAB offers (subject to the eligibility criteria and terms and conditions of those other offers).
  • A variation of 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 for the purposes of the Cash Bonus.
  • Terms, conditions, fees, charges, eligibility criteria and lending criteria apply for all NAB products (available on request).
  • NAB may vary or withdraw this Cash Bonus offer at any time without notice.

1Comparison 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.

2Base Variable Rate Discount Offer

This Base Variable Rate Discount Offer ("Offer") replaces the previous Base Variable Rate discount offer dated 18 June 2020. Under the Offer, eligible customers may benefit from a discount.

For owner occupier borrowers making principal and interest repayments, the discount off the advertised Base Variable Rate for Home Loans indicator rate is:

  • 1.70% p.a. where Loan to Value Ratio (LVR) ≤80%
  • 1.35% p.a. where Loan to Value Ratio (LVR) >80%

For residential investor borrowers making principal and interest repayments, the discount off the advertised Base Variable Rate for Residential Investment Home Loans indicator rate is:

  • 1.82% p.a. where Loan to Value Ratio (LVR) ≤80%
  • 1.57% p.a. where Loan to Value Ratio (LVR) >80%

For residential investor borrowers making interest only repayments, the discount off the advertised Base Variable Rate for Interest Only Residential Investment Home Loans indicator rate is:

  • 1.47% p.a. where Loan to Value Ratio (LVR) ≤80%

For the purpose of the Offer, LVR or Loan to Value Ratio means the value of the customer’s total NAB home lending divided by the total value of secured property.

The Offer is available from 13 August 2020 until withdrawn by NAB. NAB may vary or end this offer at any time without notice. To be eligible for the Offer, an application must be submitted during the period that the offer is available and then approved, and drawn down within the time period set out in the applicant’s loan offer.

The Offer is available on a new Base Variable Rate Home Loan of $20,000 or more.

The Offer is available for new lending only including refinances. The Offer is not available for any variation or change of loan purpose of any existing NAB home loan where a new application is not required, except existing NAB borrowers who apply for an increase in their NAB Base Variable Home Loan of $20,000 or more.

The Offer will permanently cease to apply to any otherwise eligible NAB Base Variable Rate Home Loan on the earlier of:

  • any change to loan purpose or repayment type; or
  • loan ceases to be a NAB Base Variable Rate Home Loan

The Offer is not available in conjunction with any other discount offer that may apply to NAB Home Loans from time to time. Not available to borrowers who reside outside Australia.

3Application Fee Waiver Offer Terms and Conditions

The Application Fee Waiver Offer ("the Offer") is a waiver of the Application Fee of $600 on a new Base Variable Rate Home Loan.

The Offer is available from 1 November 2019 until withdrawn by NAB. NAB may vary or end this offer at any time without notice. To be eligible for the Offer, an application must be submitted during the period that the offer is available and then approved, and drawn down within the time period set out in the applicant’s loan offer.

The Offer is available for new lending only (including refinances and limit increases for existing borrowers). The Offer is not available for any variation or change of loan purpose of any existing NAB home loan where a new application is not required.

Other Important Information

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.

View our NAB Choice Package Terms and Conditions (PDF, 263KB)
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).

Information and rates are correct as at 13 August 2020 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.

Correct as at 3 September 2020

© 2019 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.