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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.

Rates
Features
Fees
Other
Lender
Variable
More details
Online ExclusiveUp to $4k cashbackINCLUDES NOV RBA RATE INCREASE
  • Immediate cashback upon settlement
  • $2000 for loans up to $700,000
  • $4000 for loans over $700,000
Online ExclusiveUp to $4k cashbackINCLUDES NOV RBA RATE INCREASE

Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)

  • Immediate cashback upon settlement
  • $2000 for loans up to $700,000
  • $4000 for loans over $700,000
More details
Variable
More details
  • Up is 100% owned by Bendigo Bank.
  • Up to 50 offset accounts
  • New joiners get $10 by signing up to the app using code UPHOMEYM. (T&Cs apply)

Up Home Variable (Principal & Interest) (LVR ≤ 90)

  • Up is 100% owned by Bendigo Bank.
  • Up to 50 offset accounts
  • New joiners get $10 by signing up to the app using code UPHOMEYM. (T&Cs apply)
More details
Variable
More details

Variable Rate Home Loan – Refinance Only

    More details
    • Immediate cashback upon settlement
    • $2000 for loans up to $700,000
    • $4000 for loans over $700,000

    More details
    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 December 3, 2023.

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    Photo by April Benjamin.

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