NAB follows CommBank's lead, raises fixed home loan rates

Following the lead of fellow big-four bank CommBank, NAB's fixed rate increase applies to a number of residential and investment options across both principal and interest (P&I) and interest-only (IO) home loans. 

Across NAB's home loan portfolio, these increases included:

• Choice Package Tailored Fixed - P&I 2 Years 150k+: 20 basis point increase to 2.89% p.a. (4.14% p.a. comparison rate*).
• Choice Package Tailored Fixed - P&I 3 Years 150k+: 20 basis point increase to 3.34% p.a. (4.17% p.a. comparison rate*).
• Choice Package Tailored Fixed - P&I 4 Years 150k+: 20 basis point increase to 3.54% p.a. (4.20% p.a. comparison rate*).
• Investment Tailored Fixed - IO 2 Years: 20 basis point increase to 3.19% p.a. (4.72% p.a. comparison rate*).
• Investment Tailored Fixed - P&I 3 Years: 15 basis point increase to 3.64% p.a. (4.65% p.a. comparison rate*). 

The four-year fixed Choice Package is 156 basis points higher than it was in November 2020.

Adding 1.56 percentage points to a $400,000 30-year home loan could mean $331 per month in extra interest paid.

Previously, NAB's raised fixed interest rates across its home loan portfolio by up to 50 basis points in December. 

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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.

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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
loans.com.au	loans.com.au Bare Home Loan (Basic OO P&I <90%)	5.94% p.a.	5.98% p.a.	$2,978	Principal & Interest	Variable			$0	$530	90%				Owner Occupier Variable Principal & Interest 10% Min Deposit Redraw Extra Repayments More details	Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Dedicated loan specialist throughout the loan application.	Go to site	Compare	Promoted	Disclosure
Unloan	Unloan Variable Rate Home Loan LVR < 80%	5.89% p.a.	5.80% p.a.	$2,962	Principal & Interest	Variable			$0	$0	80%				Built and funded by CommBank Owner Occupier Variable Principal & Interest 20% Min Deposit Redraw More details	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.	Go to site	Compare	Promoted	Disclosure
Regional Australia Bank	Regional Australia Bank Home Loan Fixed (Owner Occupier, Principal and Interest, max lvr 60%) (3 years)	5.99% p.a.	6.02% p.a.	$2,995	Principal & Interest	Fixed			$0	$0	60%				Owner Occupier Fixed 3 Years Principal & Interest 40% Min Deposit Redraw More details	Competitive rates to help you save A Dedicated Relationship Manager Certainty of repayments with a fixed rate term	Go to site	Compare	Promoted	Disclosure
Homestar	Homestar Star Nova LVR <70% (Owner Occupied, Principal and Interest)	5.93% p.a.	5.93% p.a.	$2,975	Principal & Interest	Variable			$0	$395	70%				Owner Occupier Variable Principal & Interest 30% Min Deposit Redraw More details		Go to site	Compare		Disclosure
Reduce Home Loans	Reduce Home Loans EconoME Home Loan (Owner Occupier, Principal & Interest, LVR 60%)	5.99% p.a.	6.01% p.a.	$2,995	Principal & Interest	Variable			$0	$150	60%				$3000 Cashback T&Cs apply Owner Occupier Variable Principal & Interest 40% Min Deposit Redraw More details		Go to site	Compare		Disclosure

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Around the grounds

The week that was saw a number of smaller customer institutions increase fixed rate home loans.

ING

ING increased a number of fixed rates across its portfolio of Orange Advantage, Residential and Investment loans by up to 30 basis points. Some of these changes included:

• Residential Fixed 3 Years ≤80%: 30 basis point increase to 3.29% p.a. (3.91% p.a. comparison rate*).
• Residential Fixed 4 Years ≤80%: 30 basis point increase to 3.59% p.a. (3.95% p.a. comparison rate*).
• Orange Advantage Residential Fixed 3 Years ≤80%: 30 basis point increase to 3.19% p.a. (3.89% p.a. comparison rate*).
• Orange Advantage Residential Fixed 4 yrs ≤ 80%: 30 basis point increase to 3.49% p.a. (3.92% p.a. comparison rate*).
• Investment Fixed P&I 2 Years: 30 basis point increase to 2.99% p.a. (4.47% p.a. comparison rate*).

bcu

The credit union increased fixed home loan rates for both owner occupiers and investors by up to 15 basis points. Some highlights included:

• Residential Fixed P&I 4 Years: 15 basis point increase to 3.09% p.a. (3.74% p.a. comparison rate*).
• Investment Fixed P&I 4 Years: 15 basis point increase to 3.39% p.a. (3.94% p.a. comparison rate*).
• Investment Fixed IO 4 Years: 15 basis point increase to 3.44% p.a. (3.96% p.a. comparison rate*).

ME Bank

ME Bank increased a number of fixed home loan package interest rates tailored to members of the bank. Some highlights included:

• Member Package Flexible Fixed OO 2 Years P&I: 25 basis point increase to 2.54% p.a. (2.68% p.a. comparison rate*).
• Member Package Flexible Fixed OO 3 Years P&I: 15 basis point increase to 2.84% p.a. (2.78% p.a. comparison rate*).