NAB is here to help – Increased COVID-19 support for home loan customers

Why refinance your home loan with us?

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Easy online process

Refinancing online is quick and easy. Your online application for conditional approval can take as little as 20 minutes.

Apply to refinance online
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Access powerful new features

Get access to a host of home loan features like 100% offset account, fee-free redraw on variable loans and the NAB Mobile App.

Find a home loan that's right for you
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Unlock your equity

Use our tools and calculators to help you understand how much equity you can unlock in your property and how you can use it.

Use the NAB equity loan calculator


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 occur between 7 September 2020 and 31 July 2021, unless extended.

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

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Things to consider

What is refinancing?

Refinancing is the process of taking out a new mortgage to replace an existing loan. While this can be with the same lender, it often involves switching to another bank.

It might be time to think about switching your loan if you have been thinking about moving home or renovating. Refinancing could also give you access to additional features like an offset account or a lower interest rate.

Reasons to refinance your existing home loan

  • To get a better interest rate or different features and add-ons such as redraw facilities or flexible payments.
  • To use the equity in your home to borrow money to renovate or improve your lifestyle with a new car or holiday.
  • To consolidate debts such as a personal loan, car loan or credit card into your mortgage so it’s easier to manage your finances.

Steps to refinance your home loan

Refinancing your home loan is a big decision, and it can be a complex process. Perhaps you need a different product to suit your needs? Or you need more funds for home renovations? Or maybe you’d like to move your home loan over to another bank? No matter why you’re refinancing, there are some things you’ll need to consider before you make up your mind.

1. Work out what you need from your home loan

Are you unhappy with the loan you have, the interest rate or whether it’s a variable or fixed loan? Perhaps you’re looking at a whole change with which bank holds your loan. Whatever the reason, it’s important to think about what features and benefits you need and what matters most to you about your loan.

2. Compare home loan products and offers

Once you have an idea of why you want to refinance, you’ll need to decide on the product that will suit you best. As a first step you can compare our range of home loans, and if you’re bringing your loan from another bank, you might also like to check if you’re eligible for any of our home loan offers.

3. Understand the costs involved

Some changes to loans will involve fees. This could include break costs, exit fees and application fees, and may be charged by NAB or another bank – depending on your situation. You may also want to see whether your borrowing power has changed since your last application. To discuss fees involved or your borrowing power further, you can speak with our lending specialists at 13 78 79 or by visiting your local NAB branch.

4. Submit your refinance application

When you’re ready, you can submit a refinance application online easily. Once your application is submitted, you’ll hear from a specialist to discuss the process further.

Tools and Guides


Calculate your repayments

Our home loan calculator allows you to calculate what your loan repayments could be, based on the type of loan you choose.

Home loan repayment calculator

How much equity do I have?

Get an idea of how much equity you might have in your current home and how you could use it.

Equity Calculator


Property insights

Get a free property report for an estimate of how much the property is worth.

Property insights


Helpful guides

Whether you’re buying, renovating, upgrading or paying off your home loan, read our top property tips.

Home and property tips

Ready to get started?

Apply online for conditional approval. It can take around 20 minutes.

Basic Variable

Pay no ongoing monthly fees with our simple, low-rate home loan.

Variable with Offset

A home loan with a discounted variable rate and a 100% offset account.

Fixed Rate

Lock in your interest rate and enjoy the certainty of fixed repayments.

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.

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

Information and rates are correct as at 22 March 2020 and 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).

Personal Banking Fees - A guide to fees and charges (PDF, 517KB)
Interest rates for home lending

*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 7 September 2020 and 31 July 2021 (Offer Period), unless extended.
  • 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

  • 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.

Correct as at 12 April 2021

© 2021 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686

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