NAB Tailored Fixed 3 Years

The NAB Tailored 3-Year Fixed Rate loan give you a three-year introductory fixed rate that subsequently converts to the standard variable rate offered by NAB.

These types of loans may be included in one of NAB’s Choice packages. These are compilations of multiple NAB loan products. It’s a great money-saving option since you cut down the number of annual fees you will have to pay.

As with other NAB home loans, the tailored loan comes with flexible repayment terms. You have a choice of weekly, fortnightly, and monthly payment cycles. For interest only in advance, payments may be paid once a year. If paying interest only in arrears you can pay every month.

KEY BENEFITS

Read about some of the benefits associated with this loan.

Extra Repayments

During the loan’s fixed rate term, you can only pay up to $20,000 in extra payments. Once it changes to the variable rate term, you can make unlimited payments.

Repayment Holiday

This allows you to temporarily stop payments if you have already paid ahead on your loan.

Interest Only Payment

As an investor or owner-occupier you may pay up to five years only on the mortgage if it is in arrears. Investors may pay interest only in advance.

Redraw Facility

This option allows you to withdraw money from the loan account once its fixed rate expires. You must also be paid ahead on your home loan.

Split Loan

You take out two separate loans on the same home but only pay 1 application fee.

Self Employed

The self-employed can use a “low doc” option that is available with the Nab Tailored Fixed Rate loan.