NAB Tailored Fixed 2 Years

The NAB Tailored 2-Year Fixed Rate home loan offers borrowers two-year introductory fixed rate. Once this initial rate is over, the loan will change over to NAB standard variable rate.

The NAB Tailored home loan may be included in the NAB choice package that combines a number of NAB products and services into one offer. The point to this is to reduce costs and save the borrow money since the annual fees you would be charged for on the separate products and accounts would be discounted.

As with other kinds of NAB home loans you can take advantage of adjustable repayment terms. Borrowers can choose to pay weekly, fortnightly, or monthly. With interest only payments in advance, you could pay yearly. Interest only in arrears may be repaid on each month.

KEY BENEFITS

Check out a few common benefits of this loan:

Additional Repayments

A total of $20,000 extra payments may be paid during the fixed rate term and an unlimited number of payments may be made during the variable rate term.

Payment Holiday

This allows you to stop repayments once you have paid ahead on your scheduled repayments.

Interest Only Payment

This lets you repay interest only for five year for loans in arrears as well as interest only in advance.

Redraw

This lets you access additional money when your loan’s fixed rate expires. Of course, you must be ahead on your loan payments to use this option during the variable rate term.

Split Loans

You can apply for two different types of loans on the same property and just pay one application fee.

Self Employed?

Since many self-employed workers lack financial information needed to apply for a loan, the tailored home loan lets them access “low doc” features.