Choice Package Tailored Home Loan Fixed (Interest Only in Advance) 4 Years
- Last updated on 12 Jul 2020
Fixed - 4 years
based on $350,000 loan amount for 25 years
- No upfront fees
- Parents can sign as guarantor
- Repayments will not change during fixed period
- Limited extra repayments
- No redraw and no offset
- Annual fee charged
- Discharge fee at end of loan
Interest rate structure
Fixed - 4 years
$150k - $100m
Principal & interest
Loan term range
1 - 30 years
Allowed with restrictions
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Total estimated upfront fees
Other upfront fee
Minimum SMSF Amount
Compare and review home loans with similar features
National Australia Bank, more commonly known as NAB, is one of the big four banks in Australia. NAB is headquartered in Melbourne and has more than 900 locations across the country. NAB has over 30,000 employees who serve over 9 million customers.
NAB offers a wide range of home loans, including mortgages for first-time buyers, investors, renovators and refinancers.
The best mortgage to suit your needs will vary depending on your individual circumstances. If you want to be mortgage free as soon as possible, consider taking out a mortgage with a shorter term, such as 25 years as opposed to 30 years, and make the highest possible mortgage repayments. You might also want to consider a loan with an offset facility to help reduce costs. Investors, on the other hand, might have different objectives so the choice of loan will differ.
Whether you decide on a fixed or variable interest rate will depend on your own preference for stability in repayment amounts, and flexibility when it comes to features.
If you do not have a deposit or will not be in a financial position to make large repayments right away you may wish to consider asking a parent to be a guarantor or looking at interest only loans. Again, which one of these options suits you best is reliant on many factors and you should seek professional advice if you are unsure which mortgage will suit you best.