Compare different types of home loans at a glance. |
Home loan summary tableThis summary applies for borrowing under 80% of a property’s value. If you’re unsure of how much you can borrow or would like to borrow more than this, contact us to discuss your options. |
| Fixed interest rate home loan |
Floating interest rate home loan
|
Flexible home loan
|
| Overview |
Interest rate is fixed
for a chosen period |
Interest rate moves up and down in
line with the market. Lump sum repayments can be made (or you can pay off the
entire loan) when ever you want, for no fee |
Home loan and
transactional account all in one - redraw up to your agreed limit at any time. Interest rate moves up and down in line with the market. Lump sum repayments can be made anytime for no fee |
| Minimum loan term |
One year |
One year |
No minimum term |
| Interest rate periods |
Six months, one, two, three,
four and five years |
N/A |
N/A |
| Reserving a fixed interest rate |
Yes |
N/A |
N/A |
| Maximum loan term |
30 years |
30 years |
No set term |
| Repayment frequency |
Weekly, fortnightly or monthly |
Weekly, fortnightly or monthly |
No set frequency as long as your balance remains within your flexible loan limit (minimum payments required to meet monthly interest and fees) |
| Increased regular repayments |
Yes (conditions apply. See note below) |
Yes |
Yes |
| Extra lump sum repayments |
Yes (conditions apply. See note below) |
Yes |
Yes |
| Loan repayment holidays* |
Yes |
Yes |
No |
| Loan top-ups |
Yes - fees may apply |
Yes - fees may apply |
Yes - fees may apply |
| Redraw facilities |
No |
No |
Yes |
| Interest only option |
Yes - up to 10 years |
Yes - up to 10 years |
No (but works like an interest only loan) |
| Available for residential investment loans |
Yes |
Yes |
Yes |
| Able to mix and match with other loan types |
Yes |
Yes |
Yes |
Current Rate
Last updated on 19 Jan 2012.
All interest rates are subject to
change |
6.45% p.a.fixed for 3 Year
More home loan interest rates |
5.74% p.a.floating interest rate
More home loan interest rates |
5.85% p.a.flexible interest rate
More home loan interest rates |
For information on the fees that may apply to these home loan options, please see our home loan fees page.
Please note: For Fixed Interest Rate Home Loans, you can make a lump sum payment or increase your repayments by up to 5% p.a. of the outstanding loan balance during your fixed interest rate period for an administration fee of $100. If you pay more than 5% p.a. before the end of the fixed interest rate term, an administration fee of $250 applies. In addition, you may also need to pay an Early Repayment Recovery charge.
Our lending criteria, terms, conditions and fees apply.
* You can apply to put your repayments on hold for up to three months (available once every two years but not available within the first two years of drawing down your loan). Interest will continue to accrue on the total principal amount outstanding on the loan during the holiday period. Lending criteria applies so contact us for more details.
A copy of the Bank's disclosure statement is available from any National Bank branch.
Next page | Floating interest rate home loan >>