NAB increased interest rates on four owner occupier home loans: two packaged loans and two non-packaged loans.
These rate increases apply to:
- Tailored Fixed P&I 4 Years: 21 basis point rise to 2.29% p.a. (3.91% p.a. comparison rate*)
- Tailored Fixed P&I 5 Years: 25 basis point rise to 2.59% p.a. (3.88% p.a. comparison rate*)
- Choice Package P&I 4 Years: 21 basis point rise to 2.19% p.a. (3.76% p.a. comparison rate*)
- Choice Package P&I 5 Years: 25 basis point rise to 2.49% p.a. (3.76% p.a. comparison rate*)
The Choice Package 4 year loan is now out of the sub-2% range, after becoming one of the first of the big four banks' loans to be cut below that threshold after the Reserve Bank's November 2020 cash rate cut.
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 | |||||||||||||
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Variable | More details | ||||||||||||
FEATUREDOnline ExclusiveUp To $4K Cashback Includes NOV RBA Rate Increase | loans.com.au – Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)
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loans.com.au – Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)
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Variable | More details | ||||||||||||
FEATUREDRefinance OnlyApply In Minutes | Unloan – Variable Rate Home Loan – Refinance Only
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Unloan – Variable Rate Home Loan – Refinance Only
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Variable | More details | ||||||||||||
FEATURED | Up – Up Home Variable (Principal & Interest) (LVR ≤ 90)
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Up – Up Home Variable (Principal & Interest) (LVR ≤ 90)
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- Immediate cashback upon settlement
- $2000 for loans up to $700,000
- $4000 for loans over $700,000
Meanwhile, Macquarie cut a few variable home loans for owner occupiers and investors by up to 20 basis points:
- Variable OO P&I 60% LVR: 15 basis point cut to 2.34% p.a. (2.34% p.a. comparison rate*)
- Variable OO P&I 70% LVR: 15 basis point cut to 2.39% p.a. (2.39% p.a. comparison rate*)
- Variable Investor P&I 60% & 70% LVR: 20 basis point cut to 2.49% p.a. (2.49% p.a. comparison rate*)
In a note to brokers, Macquarie also said it raised interest rates on four and five-year fixed mortgages.
"We hope these great new rates and our industry-leading processing times lead to more opportunities and conversations with your clients," the note said.
Macquarie's current time to assessment is one day.
These changes follow on from lender Tic:Toc's cuts to variable loans and increases to fixed loans yesterday, with Westpac, Aussie, UBank, and Citi increasing rates, too, in recent weeks.
Also this week: UBank removes LMI for 15% deposits, Athena cuts variable rates
Photo by Susan Q Yin on Unsplash

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