The changes include packaged and non-packaged home loans for owner occupiers, paying principal & interest (P&I):

  • Tailored Fixed 3 Years: Up 10 basis points to 2.28% p.a. (4.07% p.a. comparison rate*)
  • Tailored Fixed 4 Years: Up 25 basis points to 2.59% p.a. (4.01% p.a. comparison rate*)
  • Tailored Fixed 5 Years: Up 30 basis points to 2.89% p.a. (3.99% p.a. comparison rate*)
  • Choice Package 3 Years: Up 10 basis points to 2.18% p.a. (3.88% p.a. comparison rate*)
  • Choice Package 4 Years: Up 25 basis points to 2.49% p.a. (3.85% p.a. comparison rate*)
  • Choice Package 5 Years: Up 30 basis points to 2.79% p.a. (3.87% p.a. comparison rate*)

These rates apply to new lending with a maximum loan-to-value ratio of 95%. 

This marks at least the third time in 2021 NAB has increased fixed mortgage rates, after it did so back in May and June.

Previously, the three and four-year packaged loans were some of the first of the big four banks' to be cut below the 2% threshold. 

Experts have said this is because of a hangover from the Reserve Bank's Term Funding Facility, with 'normal' funding expected to return in the next few months.

This also comes after the prudential regulator mandated banks cut their reliance on the 'Committed Liquidity Facility' (CLF) by the end of 2022.

The CLF is a Reserve Bank-led facility that provides funds in periods of liquidity stress.

NAB reportedly has $31 billion in 'fallback' funds in the CLF.


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
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
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 . View disclaimer.

Photo by Michael Longmire on Unsplash

Ready, Set, Buy!

Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

By subscribing you agree to our privacy policy