***** Canstar Cannex Outstanding Value Home Loan

Homeplus is a home loan package that includes both a 100% offset arrangement linked to a NAB Classic Banking account, and an eligible NAB Credit Card with the annual card fee waived for the life of the loan.

Homeplus at a glance

Flexibility

Principal and Interest or Interest Only repayment options

Choice

Fixed or variable rate options

Offset account

100% offset capability (during the variable rate period)

Competitive price

Low interest rates

A competitive $10 monthly fee



NAB Classic Banking with offset

With Homeplus you get access to a NAB Classic Banking account, which can be linked to your Homeplus home loan in a 100% offset arrangement 1

NAB Classic Banking is an everyday banking account with no monthly account service fees and no minimum deposit requirements. It includes:

  • 100% offset functionality during the variable interest rate period
  • No monthly account service fees
  • Unlimited access to NAB and rediATM's within Australia
  • A NAB Visa Debit card with payWave functionality 2

As a NAB customer, you can manage your money any time with NAB Internet Banking, NAB Telephone Banking and NAB SMS Banking 3

NAB Credit Card offer

With Homeplus you may be eligible to get a NAB Credit Card, with the annual card fee waived for the life of your Homeplus home loan.

You can choose the NAB Credit Card that suits you: 4

  • NAB Qantas Rewards Card ($500 minimum credit limit applies)
  • NAB Qantas Rewards Premium Card ($6,000 minimum credit card limit applies)
  • NAB flybuys Rewards Card ($6,000 minimum credit card limit applies)

If you are eligible you can apply for the NAB Credit Card as part of your loan application.

NAB Qantas Rewards Premium and NAB Qantas Rewards Card 

The NAB Qantas Cards allow you to earn Qantas Frequent Flyer points on your everyday purchases (up to $100,000 per month)5

Plus you get:

  • The annual card fee waived for the life of the home loan (saving you up to $250)6
  • Qantas Frequent Flyer rewards program membership (saving you $89.50)7
  • Up to 44 days interest free on purchases (when you repay the full closing balance by the due date each month)
  • Additional cardholder at no extra cost8
The NAB Qantas Rewards Premium Card also comes with Complimentary NAB Overseas Travel Insurance, Extended Warranty Insurance, Purchase Protection Insurance and Interstate Flight Inconvenience Insurance9

Take advantage of offset

NAB Classic Banking with 100% offset arrangement

The 100% offset facility enables the money held in your NAB Classic Banking account to offset the Homeplus principal loan amount you pay interest on (during the variable rate period).

That means the more money you keep in your NAB Classic Banking account, the more interest you will save on your Homeplus loan.

To make the most of this feature you can arrange for direct salary crediting, and move any savings and/or extra money into your NAB Classic Banking account. You can deposit extra money into your offset account at anytime.

How does it work?

If you have a Homeplus home loan of $300,000, and $20,000 in your linked NAB Classic Banking account, you would only be charged interest on $280,000 of your loan amount.


Use your credit card to save more interest

One way to keep the cash in your NAB Classic Banking account for longer is to pay your regular monthly expenses using your NAB Credit Card, then pay the credit card balance within the interest-free period.

If you have a NAB Qantas Rewards Card, you can also earn Qantas Frequent Flyer points.

Features & Benefits

Features
Homeplus loan
Principal and interest
Yes
Interest only
Yes First five years
Variable interest rate
Yes
Offset facility
Yes During variable rate period only
Fixed rate options10
Yes 1 to 5 years
Additional repayments10
Yes Economic costs may be payable if there is a fixed rate
Redraw (minimum $2,000)
Yes During variable rate period only
Rate Lock (fixed rate only)
Yes fees apply
Minimum loan amount
$100K
Loan term
8-30 years
Maximum loan to value ratio (LVR)  with LMI11
 Up to 95% (up to 80% for low doc loans)12
Maximum loan to value ratio (LVR) without LMI11 Up to 80% (up to 60% for low doc loans)12
Family Guarantee
Yes Not available for low doc loans
Building conditions
Yes Variable rate interest only
Direct debit repayments
Yes
Repayment frequency options
Yes Principal and interest – weekly, fortnightly and monthly
Yes Interest only – monthly
Repayment holiday
Yes Principal and interest only
Portability when you move house
Yes
Cheque access, deposit book and ATM card access
Yes Available with NAB Classic Banking account
Telephone and internet banking access
Yes
Salary Sacrifice
Yes On Principal and Interest only