NAB Tailored Fixed 10 Years

An NAB Tailored 10-Year Fixed Rate home loan is the longest fixed rate loan offered by the NAB. It comes with an introductory fixed rate that lasts 10 years that will change over to the Standard Variable Rate once the timeframe ends.

You have the option of linking a Tailored Loan with one of the NAB Choice loan options. The packages are chocked full of different NAB products and services. It allows you to save money by reducing the number of annual fees that will be charged on separate accounts and loans.

Flexible payment terms are available as well, providing the borrower with options to pay on weekly, fortnightly, and monthly cycles. Interest only periods may be annually or monthly depending on whether paying in advance or paying for arrears.

KEY BENEFITS

Here are some key benefits that at attached to the NAB Tailored Fix Rate Loan.

Paying Extra

If the loan is still in its fixed rate term, you may make extra payments up to a limit of $20,000. After the variable rate term begins, you can make as many payments as you like.

Holiday for your Repayments

You can put a temporary hold on your repayments provided you have paid forward on your mortgage.

Interest Only Payoffs

If you’re an investor or owner-occupier you can pay interest only payment for five years on the home loan if it is currently in arrears. Investors have the option of paying interest only in advance for the same duration.

Redraw

You will be able to take out extra cash following the lapse of the loan’s fixed rate period if you have made advance payments on the regularly scheduled payments.

Split Loans

This treats two loans for the same property as a single loan; the borrower is responsible for paying only one application fee for a split loan.

Option For Self Employed

The Tailored Fixed Rate home loan does cater to the self-employed by offering them a “low doc” option.