NAB drops some fixed home rates to sub 2%
As of today, NAB cut various fixed, investment, interest-only and package home loans by up to 15 basis points.
The lowest rate among the affected loans is 1.89% p.a, belonging to the Choice Package Tailored Fixed loan for two years, paying principal and interest.
Another NAB loan cut to the sub 2% mark is the Tailored Fixed loan for two years (P&I), with an advertised rate of 1.99% p.a (4.20% p.a. comparison rate).
Other rate cuts are as follows:
- NAB Inv Tailored Fixed - IO in arrears 2 yrs: 10 basis point cut to 2.59% p.a (4.87% p.a. comparison rate*)
- NAB Inv Tailored Fixed - P&I 2yrs: 15 basis point cut to 2.39% p.a (4.75% p.a. comparison rate)
- NAB Choice Package Inv Tailored Fixed - IO in arrears 2 yrs: 10 basis point cut to 2.49% p.a (4.60% p.a. comparison rate*)
- NAB Choice Package Inv Tailored Fixed - P&I 2 yrs: 15 basis point cut to 2.29% p.a (4.51% p.a. comparison rate*)
These cuts by NAB follow a plethora of recent rate cuts, many of which were made to two year fixed loans.
In recent months, fellow big four banks Westpac and Commonwealth Bank had each cut at least one home loan rate to below 2% p.a - only ANZ is yet to do so.
Recently Homestar Finance cut out the competition offering the lowest two-year fixed interest rate in history at just 1.74% with its variable rate also the lowest at just 1.79%:
