nab-rate-changes-april-2023.jpg

NAB rolls out a series of cuts in its fixed rates for owner-occupiers and investors.

This makes NAB the third major bank to introduce changes to fixed rates outside any movements in the cash rate. CommBank and ANZ have announced their respective rate cuts over the recent weeks, specifically for the rates of three-year fixed terms.

In the context of NAB, however, the changes encompassed all fixed-rate terms, with the three-year fixed rate getting the some of the biggest chop.

Here are some of the major changes in NAB’s fixed-rate offerings:

NAB Fixed-Rate Product

Change

Advertised Rate (p.a.)

Comparison Rate (p.a.)

Tailored Fixed P&I 3 yrs 70-80%

-50bps

5.59%

6.69%

Investment Tailored Fixed P&I 3 yrs 70-80%

-60bps

5.69%

7.14%

Tailored Fixed P&I 4 yrs 80-90%

-30bps

6.09%

6.76%

Investment Tailored Fixed IO 3 yrs 80-90%

-45bps

5.94%

7.26%

Investment Tailored Fixed P&I 5 yrs 70-80%

-30bps

6.54%

7.22%

Tailored Fixed P&I 1 yr 70-80%

-15bps

5.94%

6.99%

Outside of the changes in its fixed rate, NAB also made a slight change in its base variable rate for owner-occupiers on special offer, increasing it by 5bps to 5.64% p.a. (5.68% p.a. comparison rate).

This variable rate applies to new owner-occupier loans where the loan to value ratio is less than or equal to 80%.

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsRow TagsFeaturesLinkComparePromoted ProductDisclosure
5.79% p.a.
5.83% p.a.
$2,931
Principal & Interest
Variable
$0
$530
90%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 10% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
  • Available for purchase or refinance, min10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application.
 Disclosure
5.84% p.a.
5.86% p.a.
$2,947
Principal & Interest
Variable
$0
$250
60%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 40% Min Deposit
  • Redraw
  • More details
  • Easy application. Fast approval. No annual fee.
  • Unlimited additional repayments free of charge.
  • Redraw freely - Access your additional payments.
 Disclosure
5.74% p.a.
5.65% p.a.
$2,915
Principal & Interest
Variable
$0
$0
80%
  • 100% owned by Commbank
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • More details
  • A low-rate variable home loan from a 100% online lender.
  • Backed by the Commonwealth Bank.
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of .

Important Information and Comparison Rate Warning

-

Photo by April Benjamin.

Collections: