NAB raises fixed home loan rates for the fifth time this year

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on November 11, 2021 Fact Checked
NAB raises fixed home loan rates for the fifth time this year

Less than two months since the big four bank last raised fixed home loan rates, on Thursday NAB made further changes to fixed interest rates.

Fixed interest rates across NAB's fixed home loan portfolio were increased by up to 51 basis points (0.51%).

This increase follows on from the previous increase of up to 30 basis points back in September. 

Across NAB's home loan portfolio, ‘Choice Package', 'Choice Package Investment' and 'Tailored' products for owner occupiers and investors were increased. 

Some of NAB's announced changes include:

  • Choice Package Tailored Fixed - P&I 3 Years 150k+: Now 2.79% (4.03% p.a. comparison rate*)
  • Choice Package Tailored Fixed - IO 3 Years 150k+: Now 3.89% (4.36% p.a. comparison rate*)
  • Investment Tailored Fixed - P&I 3 Years: Now 3.09% (4.71% p.a. comparison rate*)
  • Tailored Fixed - P&I 3 Years: Now 2.89% (4.23% p.a. comparison rate*)
  • Tailored Fixed - IO 3 Years: Now 3.99% (4.59% p.a. comparison rate*)

These increased rates apply to new lending with a maximum loan-to-value ratio of 95% for owner occupiers and 90% for investors.

This increase follows the release of NAB's Full Year Results for 2021, recording a statutory net profit of $6.56 billion, and comes a week after fellow big four banks CommBank and Westpac hiked their own offerings for fixed home loan interest rates. 


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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
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval

VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
VariableMore details
REFINANCE IN MINUTES, NOT WEEKS

Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)

  • Refinance only. Fast online application
  • No Nano fees. Free 100% offset sub account
  • Mobile app, Visa debit card & instant payments
REFINANCE IN MINUTES, NOT WEEKS

Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)

  • Refinance only. Fast online application
  • No Nano fees. Free 100% offset sub account
  • Mobile app, Visa debit card & instant payments
VariableMore details
NO UPFRONT OR ONGOING FEES

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
NO UPFRONT OR ONGOING FEES

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees

Rates correct as of November 27, 2021. View disclaimer.



Image by Phil Hearing via Unsplash.

Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.

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author-avatar
Jacob Cocciolone joined the Savings team in 2021 as a Finance Journalist. Driven by a passion for keeping Australians up to date with the latest financial news and trends, his areas of interest include financial technology, investing, property and motoring.

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