NAB Increases Home and Investment Loan Interest Rates

 

Today NAB (National Australia Bank) have decided increase their owner occupied variable interest rates by 0.12% only if they are principal and interest repayments.

For owner occupied interest only and investment loans  the interest rate has increased by 0.16%. Please see the table below for summary.

Interest rate Owner Occupied P&I Owner Occupied IOL Investor P&I Investor  IOL
Current 5.24% 5.77% 5.80% 6.25%
Change +0.12% +0.16% +0.16% +0.16%
New 5.36% 5.93% 5.96% 6.41%

 

Typically this type of move from a major bank will also invoke moves from the other 3 majors plus many smaller lenders. We will keep you updated of any changes.

If you have any questions about these announcements or interest rates, please feel free to contact us.

For more information regarding residential home loans, investment and commercial finance please visit Smart Search Finance.

 

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