NAB has reduced its four-year fixed home loan package by 0.20% to 5.44%.

It is now at its lowest level in more than 20 years.

Your Mortgage’s home loan calculator shows the reduction will save first home owners about $48 a month for a loan of $400,000 on a loan term of 25 years, compared to the previous rate.

NAB has also cut its three-year fixed home loan by 0.05% to 5.14%.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan