NAB Portfolio Facility Loan

Features

The NAB Portfolio Facility Loan gives you the choice to split your finances the way you want to through a flexible line of credit loan.

The main feature of this facility loan is the ability to consolidate up to 12 sub accounts under one loan facility. The primary difference between a portfolio loan and other traditional home loans is that you’ll get approved for one master limit which you can use to invest in property, consolidate debts or for any other worthwhile purpose.

This Portfolio Facility Loan has a minimum loan amount of $250,000 and it must be secured by a residential property.

While the actual Facility Loan does not have a 100 perfect offset account, you do have the option to access a 100 percent offset account through a variable rate sub account.

The other major advantage to the Portfolio Facility Loan is that all the sub accounts are covered by the one annual fee, which gives you the potential to save by consolidating.

Borrowers that want the best of both worlds have the option to split this loan into both fixed and variable interest options, however the 100 percent offset facility is only available to variable rate loans.

When it comes to accessing the funds, you can withdraw money as you need it through ATMs or online banking which also gives you access to your portfolio summaries and an instant snapshot of where you stand and what funds you have at your disposal.

Who is the NAB Portfolio Facility Loan good for?

The NAB Portfolio Facility Loan is best suited to investors who need access to funds at short notice.

Through its sub accounts, this loan gives you the flexibility to structure the loan around your lifestyle. This loan may not be ideal for borrowers looking for a simple low rate loan.

Review - What RateCity says

The NAB Portfolio Facility Loan has a lot of flexibility to structure your investments and savings exactly how you like it.

As this loan is essentially a large line of credit, it’s best suited to borrowers who have a little more experience up their sleeve and are looking for a loan with a master limit and the freedom to use the funds as they wish. It’s worth pointing out that the features of this loan come at a cost, specifically in higher than average interest rate.

If you have the discipline to manage a large line of credit and are looking for a loan that gives you freedom and value via a package option, then this loan may be worth looking into. Borrowers that find comfort in face-to-face banking are spoilt for choice as NAB have a huge branch network in addition to extended telephone support and online chat.

NAB Portfolio Facility Loan Options

For more information about the NAB Portfolio Facility Loan options, click the links below.

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Fixed Rates from

3.84%

Advertised rate

5.46%

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Variable Rates from

5.38%

Advertised rate

5.91%

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Pros
  • No upfront fees.
  • Flexible loan structure.
  • Create up to 12 sub-accounts.
Cons
  • High annual fee.
  • High interest rate.
  • Not suitable to all borrowers.
Eligibility

Must meet serviceability criteria.

Must be an Australian Citizen.

Provide a list of assets and liabilities.

Suitable For
  • First Home Buyers
  • Investors
  • Owner-Occupiers
  • Refinancers
  • Line of Credit Loans
Fees
  • Estimated upfront fees: $0
  • Discharge fees: $350
  • Ongoing fees: $550 annually

The NAB Portfolio Facility Loan has no upfront establishment fee. It does have a moderately-high annual fee which covers the facility loan and up to 12 sub accounts. This loan also has a discharge fee payable when the loan ends or if you choose to refinance your portfolio loan to another lender.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Monthly repayments
About NAB

NAB is one of Australia’s biggest banks, providing financial products and services to over 12 million customers. NAB has a diverse range of home loan products which cater to borrowers of all shapes and deposit sizes. Being a big bank, NAB offers its customers big telephone and an extended branch network.

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