NAB is trying to win back Investors with a low rate variable Principal and Interest or Interest Only offer.

Details below.

“Effective Friday 16 August 2019, NAB will introduce a new Residential Investor Variable Rate for new lending:

Loan Purpose Repayment type Loan to Value Ratio (LVR)^ Interest rate# Comparison rate Discount*
Residential Investment Principal & Interest ≤80% 3.65% 3.69% 1.66%
>80% 3.85% 3.89% 1.46%
Interest Only** ≤80% 3.95% 4.24% 1.36%

(Variable rates are subject to change)”

This is in addition to NAB’s “Base Variable Rate Home Loan offer” for new owner occupier, principal & interest lending which offers owner occupier customers the following:

  • 3.35% p.a. where LVR ≤80% (comparison rate 3.39% p.a.)
  • 3.55% p.a. where LVR >80% (comparison rate 3.59% p.a.)

Eligibility criteria

  • Available on a new Base Variable Rate Home Loan
  • New interest rates will apply to all applications for Base Variable Rate Home Loans submitted from Friday 16 August 2019
  • New lending only including existing borrowers taking out a top up of an existing home loan by $20,000 or more (application fee applies)
  • $600 application fee applies
  • LMI payable where the borrower’s loan to property value ratio (LVR) is greater than 80%
  • Not available for non-resident borrowers