Home Loans
Residential Redraw
Redraw from your fixed rate home loan at anytime.
NBS Clients - Edee and Ryan
NBS Residential Redraw is a home loan product that gives you access to additional principal repayments you have made on your loan above the scheduled minimum. Additional repayments can be in the form of lump sum deposits or by making higher recurring repayments than the minimum. These additional repayments can help to reduce the balance of your home loan and the interest you pay on it.
While the redraw feature is designed for infrequent use, it can be handy for those times you face an unexpected bill, or you need access to money for a big ticket item. The amount of available funds will reduce as your loan progresses towards maturity.
(*min $1,000 per withdrawal, 2 withdrawals per month)
Residential Redraw set up options
- Choose monthly, fortnightly or weekly repayments.
- You can make additional lump sum repayments or regularly pay more than your minimum required repayment. This will build up the balance you have available to withdraw, and may reduce the time it takes to pay off your home loan.
- The Residential Redraw may also give you the opportunity to take a break from your scheduled repayments.
- Maximum term is 25 years.
Rates & Fees
| NBS Home Loan Rates | |
|---|---|
| 6 Months Fixed | 7.09% p.a. |
| 1 Year Fixed | 6.69% p.a. |
| 2 Year Fixed | 6.19% 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. This variable interest rate is effective for new lending facilities from 4 September 2024. For lending facilities with the variable interest rate drawn prior to 4 September 2024, your new rate will become effective 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.