NAB Tailored Fixed 1 Year

The NAB Tailored 1-Year Fixed Rate home loan has an introductory fixed rate that last for one year. After the fixed rate term expires, the loans converts to NAB’s standard variable rate.

The Tailored loan can be added to a NAB choice package which merges all NAB products and services. This can save you money by reducing all of the annual fees that are charged on those other products and accounts.

Like the other types of NAB home loans the repayment terms are flexible. You can pay on a weekly, fortnightly, and monthly basis. For interest only in advance, payments can be paid annually. Interest only in arrears can be paid monthly.

KEY BENEFITS

Here are some common benefits of this loan:

Additional Repayment

You make up to $20,000 additional payments during the fixed rate period and unlimited payments once the rate converts to the variable term.

Payment Holiday

You can halt your repayments when you’ve paid in advance on your scheduled repayments.

Interest Only Payment

You can pay up to five years interest only for loans in arrears as an investor or owner-occupier and interest only in advance just for investors.

Redraw

You can use this option to withdraw extra money once the fixed rate period on the loan expires. However, you must be ahead on your regular mortgage payments.

Split Loans

This allows you to obtain two different loans for the same house while only paying one application fee.

Self Employed?

Since many unemployed workers don’t have standard financial information for application purposes, this loan provides a “low doc” process to help you secure a loan.