Finty
NAB

NAB Defence Force Home Loan

Variable or Fixed rateOffsetRedraw

As one of the first Defence Home Ownership Assistance Scheme (DHOAS) approved home loan providers, we’re committed to serving those who serve. Whether you’re still in the Australian Defence Force (ADF) or transitioning out, NAB is there for you. ADF members are eligible to apply for a NAB Defence Force Home Loan provided they satisfy the requirements under the DHOAS.

Written byDavid Boyd
Interest rate a year, from
6.29%
Comparison rate
6.42%
Upfront fees
Not published
Annual fee
Not published
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

Apply now

What it would cost

At the lowest rate of 6.29% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$3,710
Total repayments
$1,335,574
Interest
$735,574

Rates

Every rate NAB publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestAny6.29%6.42%
VariableLive inPrincipal and interestAny7.04%7.16%
1 year fixedLive inPrincipal and interestAny6.79%7.14%
2 year fixedLive inPrincipal and interestAny6.81%7.12%
3 year fixedLive inPrincipal and interestAny6.92%7.13%
4 year fixedLive inPrincipal and interestAny6.92%7.12%
5 year fixedLive inPrincipal and interestAny6.94%7.12%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
Not published
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
95%
Loan amount
From $20,000

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

6.29%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

6.42%

For the same rate. Typical is 6.70%.

Smallest deposit

5%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • A lower variable rate. 6.29%, below the typical 6.62%. On a $600,000 loan, every 0.10% less saves about $600 a year in interest.
  • An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
  • Fixed rates on offer. You can fix for 1 to 5 years if you'd like repayments that don't change for a while.

Cons

Nothing stands out.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.