- NAB has increased fixed home loan rates for the second time in as many weeks
- It comes amid a flood of lenders - big and small - lifting fixed rates across the market
- NAB also lifted its top term deposit rate to match CommBank and Westpac's 12-month rate changes this week
The big four banks all lifted their fixed home loan rates before Easter - CommBank and NAB moving first followed days later by Westpac and ANZ.
Now NAB has announced another round of fixed home loan rate increases of up to 30 basis points.
See also: Compare fixed home loan rates
The hikes apply across the board to NAB's Tailored fixed home loan products for both owner occupiers and investors.
NAB's best new rate is 6.34% p.a. (6.78% comparison rate*) for a one-year fixed loan for owner occupiers with loan-to-value ratios (LVRs) under 80% and making principal and interest (P&I) repayments.
Here's a selection of NAB's new rates for owner occupiers making P&I repayments:
| Fixed term/LVR | New rate (% change) | Comparison rate* |
| 1 year, <80% LVR | 6.34% p.a. (+0.30) | 6.78% p.a. |
| >80% LVR | 6.44% p.a. (+0.30) | 6.79% p.a. |
| 2 years, <80% LVR | 6.39% p.a. (+0.30) | 6.75% p.a. |
| >80% LVR | 6.49% p.a. (+0.30) | 6.77% p.a. |
| 3 years, <80% LVR | 6.49% p.a. (+0.30) | 6.75% p.a. |
| >80% LVR | 6.59% p.a. (+0.30) | 6.78% p.a. |
| 4 years, <80% LVR | 6.49% p.a. (+0.30) | 6.73% p.a. |
| >80% LVR | 6.59% p.a.(+0.30) | 6.77% p.a. |
| 5 years, <80% LVR | 6.49% p.a. (+0.30) | 6.71% p.a. |
| >80% LVR | 6.59% p.a. (+0.30) | 6.76% p.a. |
Note: comparison rates are lower than those above for LVRs 70% or less
NAB's new investor fixed rates
Here's a selection of Tailored investor home loan fixed rates, for both P&I and interest only (IO) repayments:
| Fixed term/LVR | New rate | Comparison rate* |
| 1 year, <80% LVR, P&I | 6.39% p.a. | 7.05% p.a. |
| IO | 6.49% p.a. | 7.13% p.a. |
| >80% LVR, P&I | 6.49% p.a. | 7.07% p.a. |
| IO | 6.59% p.a. | 7.14% p.a. |
| 2 years, <80% LVR, P&I | 6.44% p.a. | 7.00% p.a. |
| IO | 6.54% p.a. | 7.07% p.a. |
| >80% VLR, P&I | 6.54% p.a. | 7.02% p.a. |
| IO | 6.64% p.a. | 7.09% p.a. |
| 3 years, <80% LVR, P&I | 6.59% p.a. | 6.99% p.a. |
| IO | 6.69% p.a. | 7.05% p.a. |
| >80% LVR, P&I | 6.69% p.a. | 7.02% p.a. |
| IO | 6.79% p.a. | 7.08% p.a. |
| 4 years, <80% LVR, P&I | 6.59% p.a. | 6.96% p.a. |
| IO | 6.69% p.a. | 7.01% p.a. |
| >80% LVR, P&I | 6.69% p.a. | 6.99% p.a. |
| IO | 6.79% p.a. | 7.04% p.a. |
| 5 years, <80% LVR, P&I | 6.59% p.a. | 6.92% p.a. |
| IO | 6.69% p.a. | 6.97% p.a. |
| >80% LVR, P&I | 6.69% p.a. | 6.97% p.a. |
| IO | 6.79% p.a. | 7.01% p.a. |
Note: comparison rates are lower than those above for LVRs 70% or less
NAB also matches other big bank term deposit rates
While NAB's rate-setters were on the job, they also lifted the bank's 31-day notice term deposit rates by up to 20 basis points.
NAB's top rate is now 5.10% p.a. for a 12-month deposit of between $5,000 and $1,999,999 with interest paid annually.
The rate matches CommBank's new special offer term deposit rate launched on Wednesday.
Not to be outdone, Westpac also lifted its special offer rates on Thursday, with its new 12-month rate also at 5.10% p.a. for online customers depositing between $5,000 and $2 million with interest paid at maturity.
Despite the big three clamouring to match each other's top offers, their term deposit rates remain considerably lower than those of many smaller players on the market.
See also: Best term deposit rates up to 5.70% p.a.
What do the rate increases mean?
In simple terms, fixed home loan and term deposit rate increases indicate the retail banking sector is preparing for further hikes to the cash rate ahead.
Westpac's head economist Luci Ellis has predicted there will be another three in quick succession - in May, June, and August - spurred by elevated fuel prices driving inflationary pressures throughout the economy.
Some economists are forecasting inflation figures with a '5' in front by mid-year, well above the Reserve Bank's target of 2-3%.
With the RBA having only one tool to keep inflation at bay - the cash rate - it will be mortgage holders who will also bear the financial brunt of the conflict in the Middle East.
Should I fix my home loan rate?
Fixed home loan rates began rising across the market late last year as inflation again reared its head after three cash rate cuts in 2025.
Those fixing their rates at that time may have been quick enough to lock in a fixed rate with a '5' in front, although they fast disappeared in 2026.
The decision to fix a home loan rate depends on individual circumstances as well as the broader economic outlook which even economists find difficult to forecast.
At the current time, the conflict in the Middle East remains unpredictable, so too the outlook for fuel prices.
The Reserve Bank's monetary policy board will also have the task of balancing inflationary pressures with the prospect of recession, brought on by weaker economic growth and falling household demand.
The Australian Financial Review's quarterly survey of 38 leading economists, released this week, found an increasing number believe there will be another two cash rate hikes in 2026, with the next one in May.
But how this plays out hinges largely on global factors as well as Australia's response to them.
In the meantime, it's worth reading our articles on fixed home loan options:
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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.
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.94% p.a. | 5.98% p.a. | $2,978 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | ||||||||||
5.89% p.a. | 5.80% p.a. | $2,962 | Principal & Interest | Variable | $0 | $0 | 80% |
| Promoted | Disclosure | ||||||||||
5.99% p.a. | 6.02% p.a. | $2,995 | Principal & Interest | Fixed | $0 | $0 | 60% |
| Promoted | Disclosure | ||||||||||
5.93% p.a. | 5.93% p.a. | $2,975 | Principal & Interest | Variable | $0 | $395 | 70% | Disclosure |
