Home Loans
Interest Only
A great option of reducing repayments in the short term.
NBS Client - Phil, with Dean Lund, Agribusiness Manager
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 | |
|---|---|
| 6 Months Fixed | 7.09% p.a. |
| 1 Year Fixed | 6.85% p.a. |
| 2 Year Fixed | 6.39% p.a. |
| Variable | 8.75% p.a. |
| NBS Flexi Loan - Interest rates start from | 8.75% p.a. |
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Interest rates are current and subject to change. Effective for new Variable Rate based lending facilities from 4 September 2024. Effective for existing Variable Rate based lending facilities from 17 October 2024. |
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| NBS Residential Term, Residential Redraw, NBS Interest Only | |
|---|---|
| Loan Establishment Fee | From $450.00 |
| Loan Additional Funds | $250.00 |
| Interest Rate Review | $50.00 |
| Discharge Mortgage Fee | $50.00 |
| Default Interest Rate | 4.00% p.a. above annual interest rate |
| Default Administration Fee | $45.00 per event |
| Insurance Arrears Payment Fee | $25.00 |
| Rates Arrears Payment Fee | $25.00 |
| Motor Vehicle Security Variation/Security Swap Fee | $30.00 |
| Duplicate Statement Fee | $5.00 |
| Early Repayment Adjustment (Formula based calculation required CCCFA) | P.O.A |
| Early Repayment Administration Cost | $50.00 |
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Fees are subject to change.
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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.