How to use the ‘My Applications’ feature
Using My Applications you can:
- view the details of your application
- monitor the progress of your application
- upload verification documents
- review and accept loan documents online.
Depending on the product and how you applied for it, you may not be able to manage your application online through Applications in NAB Internet Banking.
How to access ‘My Applications’
- Log into NAB Internet Banking with your NAB Identification number (ID) and NAB Internet Banking password.
- Open the Apply/Offers menu and select My Applications.
- Select the application you wish to view from the list of applications listed.
Receiving documents electronically
If you’ve chosen to receive your documents electronically, your documents will be loaded into NAB Internet Banking where you can download and view them.
You won't get a paper copy in the mail unless you asked for one. If you prefer, you can print the electronic copy and hand it in at any NAB branch once it's complete.
All documents made available via NAB Internet Banking can also be downloaded and saved locally or printed at any time.
When accepting loan documents electronically, you’ll sign the document by following the instructions in NAB Internet Banking. Your documents will be available in NAB Internet Banking for a minimum of seven years.
Information you can find in ‘My Applications’
The Loan details section provides information for you to view about the product you have applied for. This can include any of the following information depending on the product:
- Product: Type of product you are applying for.
- Offset Facility: Indicates if the product offers an Offset facility.
- Loan Amount: The dollar value of the loan.
- Loan Term: The length of a loan, for example 30 years.
- Fixed interest rate will stay the same for the fixed rate period. This means your repayments won't change during the fixed rate period.
- Variable interest rate could move up or down. If interest rates change, your minimum repayments could too.
- Interest Rate: Indicative and subject to change (inclusive of discounts, margins, which will be confirmed in your Letter of Offer).
- Principal and interest loan: A loan where the repayments are made up of principal and interest.
- Interest-only loan: The borrower only has to pay the interest that is accrued on the loan and no principal payments for a specified time period.
- Interest in advance: When interest is charged at the beginning of a period of time. It is generally only available on fixed rate loans for investment purposes.
- Interest in arrears: Interest charged at the end of a period of time, generally the end of the month.
- Repayment amount: The amount that the loan contract specifies must be paid at an agreed frequency, for example fortnightly or monthly.
The Verifications section is where you can provide us with information to help verify your identity as well as upload documents that we may require to progress your application, such as payslips or proof of income.
If you've uploaded the wrong document, just upload the correct one as well and let your banker know.
We'll let you know if there's anything else you need to do or give us to finalise this stage.
Property details for valuation
When you're buying a home or refinancing your loan, we'll often need to get a bank valuation. This is because we need to know that we're lending you the money responsibly.
We have to make sure we're not giving you a home loan that is more than the value of the property. The more information you give, the more equipped we are to perform an accurate valuation of your property.
When completing the Property details for valuation section of Applications in NAB Internet Banking, please provide us with as much detail as you can on the following:
- Size of Land: Located on the Property Title or available from your local council.
- Size of Dwelling: Also known as floor size (balconies and carport's/garages included).
- Wall Type: Brick, double brick, weatherboard.
- Roof Type: Tiles or Colourbond, pitched or flat.
- Number of Bedrooms: The number of bedrooms in the property.
- Bathrooms: The number of bathrooms in the property.
- Other rooms: Entertainment room, Rumpus room.
- Storeys: The number of storeys of the property.
- Carport's and garages: The number of carport's or garages in the property.
Once you click Submit you will not be able to amend this information so make sure the details are accurate and complete.
Once you have formal approval for your home loan you'll receive a loan contract to sign. Like any legal document you should get independent legal advice before you sign. Your solicitor or conveyancer can review any legally binding documents (including your home loan contract) and advise you on any issues to help you make a considered decision.
If you elect not to have a solicitor/conveyancer you will need to ensure that you are prepared to attend a settlement and manage it yourself. Make sure you understand the details by asking your solicitor and your banker questions if you're unsure of anything.
The Loan accounts section of Applications provides information on:
- Repayment Frequency: Monthly, Fortnightly or Weekly.
- Minimum Repayment Amount: Your first repayment will be debited after settlement date and is based on your selected frequency. For example, if you've chosen a weekly repayment frequency, your first payment will be debited one week after the settlement date.
- Repayment Account: This is the account we will use to take repayments from for your loan. If your contribution is to come from a NAB account, this account will be used. See Settlements details (below) for contribution details.
- Offset Account: You can link a transaction account under an offset arrangement. The credit balance of your transaction reduces the interest payable on your loan. If you don't select an existing account to link your loan under an offset arrangement, we'll create a new account for you at settlement.
You must ensure that you meet the minimum required repayments as detailed in your Letter of Offer.
If you elected to receive your documents electronically, you will be able to read and accept documents in the Loan documents section of Applications in NAB Internet Banking.
Some documents are still required to be completed on paper, such as your Mortgage Document. If you’d like to sign your documents on paper instead of accepting them online, just print them and take them to a NAB branch once complete. The branch will then send them away to be processed.
If you elected to receive your documents in the mail but would like to read them sooner, you can do this at any time by accessing the Loan documents section in Applications. You can then accept them electronically or wait until they arrive in the post and sign them on paper.
When you access the Loan documents section for the first time, you’ll need to accept the terms and conditions to receive and accept electronic documents. You’ll also need to follow all the steps for reading and accepting your documents in order to be able to digitally sign your documents.
The Settlement details section of Applications provides information for you to view on the settlement instructions that we have recorded for your home loan application, including the settlement date and loan amount. It will also show you any amounts that you may need to contribute towards the loan (such as a deposit) and the date by which this is required.
The Loan disbursement details section of Applications provides information for you to view on the disbursement details that we have recorded for your personal loan application, including the account that we will credit your personal loan funds to and the date on which this will occur.
Rates, fees and charges
All fees will be detailed in your Letter of Offer, which you can download with the documents after we've approved your loan.
For further details on rates, fees and charges refer to Buying your first home.
How to contact us for help
We can help you with information at any point of the application process. Here are some of the reasons you might need to contact us:
- you change your mind about receiving and signing documents electronically
- you’re having difficulties with access
- you have questions about verification
- you notice any of the information in the application is incorrect.
Here are the ways to contact us:
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