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
Principal and Interest or Interest Only repayment options
Fixed or variable rate options
100% offset capability (during the variable rate period)
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 $82.50)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
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
|Principal and interest||
Yes First five years
|Variable interest rate||
Yes During variable rate period only
|Fixed rate options10||
Yes 1 to 5 years
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||
|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|
Yes Not available for low doc loans
Yes Variable rate interest only
|Direct debit repayments||
|Repayment frequency options||
Yes Principal and interest – weekly, fortnightly and monthly
Yes Interest only – monthly
Yes Principal and interest only
|Portability when you move house||
|Cheque access, deposit book and ATM card access||
Yes Available with NAB Classic Banking account
|Telephone and internet banking access||
Yes On Principal and Interest only