Home Loans
NBS Residential
Redraw Loan
The fixed rate home loan with flexibility.
Pictured: The Campbells | NBS Nelson clients
Redraw from your fixed rate home loan at any time, for free (min. $1,000 per withdrawal*)
Our Residential Redraw product is available as a fixed rate home loan and allows you to pay additional sums of money over and above your minimum required repayments. It also offers the ability to ‘redraw’ all or some of these additional sums should you need them.
NBS Residential Redraw benefits
- Repay your home loan faster by paying over and above your minimum required amount
- Pay less interest: the more you pay in and the less you withdraw, the lower your interest charges
- Redraw funds for those unexpected bills or big-ticket items
- Potential to take a break from scheduled payments
NBS Residential Redraw features
- Choose monthly, fortnightly or weekly repayments
- Make additional lump sum repayments or regularly pay more than your minimum required repayment. (eg, with surplus income or regular bonus payments)
- Minimum of $1,000 per withdrawal.
- *Maximum of two withdrawals per month
- Maximum term is 30 years
Talk to one of our qualified lending specialists today to find out if the NBS Residential Redraw home loan is right for you.
Want to see what extra repayments could do to your loan balance?
Use our calculator to estimate the impact that making extra repayments now could have on your loan balance and give you more flexibility later.
With our Residential Redraw Home Loan you get the stability of fixed rate options and the flexibility to redraw the extra amounts you've paid in when life calls for it.
A redraw home loan could help you save money. It's something you'd normally only get on a variable (floating) rate, but unlike other lenders, we offer a redraw home loan on a fixed rate. This helps protect you from interest rate changes while giving you the option to pay your loan off faster and enjoying the freedom to use your own money when you need it.
Redraws are subject to terms and conditions. If you redraw the extra payments you've made, your loan balance will increase again. This means you'll pay more interest over time compared with not making any redraws and any interest savings or faster repayment benefit from making those extra payments will no longer apply.
Enter your loan details, then explore your repayment options
NBS Residential Term Home Loan
Paying the minimum
— · your minimum repayment
NBS Residential Redraw Home Loan
Paying the minimum
— · your minimum repayment
Add additional lump sum repayments or redraws
Enter a positive number for additional lump sum repayments (reduces the loan balance) or a negative number for withdrawals (increases the loan balance).
Your repayment amount and any lump sums were cleared, because they applied to the previous loan details.
How your repayment choices could affect the total cost of your loan
Comparison of total principal and interest paid over the loan term, based on the additional repayments and lump sum payments you entered.
How your redraw balance could grow over time
This graph shows the estimated amount that could be available to redraw each month over five years* based on the additional repayments and lump sum payments you entered into the calculator.
Use of this calculator doesn't constitute financial advice, a loan application or loan approval. The results shown are estimates and for illustrative purposes only, to compare between two loan types.
They’re based on the limited information you provide. Amounts entered are rounded to the nearest dollar. The calculator includes assumptions that the interest rate remains the same throughout the loan term, that regular repayments are made commencing seven days after the loan starts, and that no penalties are applied. The results may not reflect actual loan circumstances.
All lending is subject to NBS lending criteria and terms and conditions and fees may apply. Interest rates advertised are subject to change at any time without notice. We recommend you seek financial advice before making any borrowing decisions. Our lending specialists are happy to help.
* The amount available to redraw each month over five years is an estimate and is for illustrative purposes only. It is based on the total of the extra principal repaid above the minimum repayment, less any amounts already redrawn. It does not include any interest saved. Redrawing funds may increase the total interest on the loan, extend the loan term or affect repayments. Redraw availability is subject to loan terms and is not guaranteed.
Rates and fees
| NBS Home Loan rates | |
|---|---|
| 6 months fixed | 5.19% p.a. |
| 1 year fixed | 5.19% p.a. |
| 2 year fixed | 5.49% p.a. |
| Variable* | 6.99% p.a. |
| NBS Flexi Loan variable interest rate* | 7.49% p.a. |
|
Interest rates are current as of 8 September 2026 and subject to change at any time without notice. Minimum 20% equity required. NBS lending criteria and specific terms and conditions apply. Margins, discounts and fees may apply. For new loans or refixes, rate may be subject to change prior to drawdown. NBS home loan rates are available for residential owner-occupied or investment property loans only. * Effective rate for new clients from 8 September 2026. Effective rate for existing clients from 12 October 2026. |
|
| NBS Home Loan rates for low equity (<20% equity) | |
|---|---|
| 6 months fixed | 5.79% p.a. |
| 1 year fixed | 5.79% p.a. |
| 2 year fixed | 6.09% p.a. |
| Variable* | 6.99% p.a. |
|
Interest rates are current as of 8 September 2026 and subject to change at any time without notice. Residential properties only (applies to the NBS Residential Term Home Loan and the NBS Residential Redraw Home Loan). Revolving credit (NBS Flexi Loan and overdraft) products not available for low equity loans. NBS lending criteria and specific terms and conditions apply. Margins, discounts and fees may apply. For new loans or refixes, rate may be subject to change prior to drawdown. * Effective rate for new clients from 8 September 2026. Effective rate for existing clients from 12 October 2026. |
|
| NBS Residential Term, NBS Residential Redraw and NBS Interest Only fees | |
|---|---|
| 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 or security swap fee | $30.00 |
| Duplicate statement fee | $5.00 |
| Early repayment recovery amount (ERRA) | Price on application |
| Early repayment administration cost | $45.00 |
|
Interest rates are current as of 8 September 2026 and subject to change at any time without notice. NBS lending criteria and specific terms and conditions apply. Margins, discounts and fees may apply. For new overdrafts, rate may be subject to change prior to drawdown. |
|
NBS General Terms and Conditions, general lending terms and criteria, and fees apply. Interest rates are subject to change
at any time without notice.
Important information and assumptions
The NBS Residential Redraw calculator is provided by Nelson Building Society (NBS) for general information purposes only. It doesn't constitute financial advice, a recommendation or an offer of finance.
The results generated by this calculator are estimates only and are intended to illustrate how additional repayments and redraw activity may affect a home loan over time.
- Are estimates only
- Are based on the information you input
- Assume the same interest rate will apply for the full loan term
- Assume regular, amortised repayments are made on schedule
- Fees
- Changes to interest rates over time
- Loan restructuring, repayment holidays or missed payments
- Personal financial circumstances
- Is limited to funds that have been paid in addition to required repayments
- Is subject to a minimum redraw amount of $1,000 per transaction
- Is limited to a maximum of two redraws per month
- May reduce over time as the loan approaches its final repayment date
- Is subject to terms and conditions