Home Loans

Interest Only

A great option of reducing repayments in the short term.

NBS Client - Phil, with Dean Lund, Agribusiness Manager

Allows you to reduce repayments by paying the accumulating interest rather than the principal part of the loan.

A great option for reducing repayments in the short term, assisting in managing your budget and giving you time before full principal and interest repayments need to be made. 

How an Interest Only Loan Works

  • You can set your home loan to be interest only for up to five years.
  • You can choose fixed or variable interest rates.
  • Repayments are made monthly.
  • Your minimum repayments will only cover the interest charges on your loan.
  • There is still some flexibility to repay loan principal.


Rates & Fees

NBS Home Loan Rates
1 Year Fixed 2.99% p.a.
2 Year Fixed 3.24% p.a.
Variable 4.95% p.a.
NBS Flexi Loan - Interest rates start from 4.95% p.a.

Interest rates are subject to change.

NBS Residential Term, Residential Redraw, NBS Interest Only
Loan Establishment Fee From $400.00
Interest Rate Review From $150.00
Discharge Mortgage Fee $130.00
Default Interest Rate 4.00% p.a. above annual interest rate
Default Administration Fee $100.00
Insurance Arrears Payment Fee $15.00
Rates Arrears Payment Fee $25.00
Motor Vehicle Security Variation/Security Swap Fee $30.00
Duplicate Statement Fee $15.00
Early Repayment Adjustment $500.00 (minimum charge)
Early Repayment Administration Cost $100.00

Fees are subject to change. 


Terms and Conditions

NBS’ current Loan Agreement Specific Terms and General Lending Terms are available free of charge from any NBS branch. NBS lending criteria and the above terms apply. You will also need to have an NBS loan deduction account.