Residential Redraw

You don't have to live within rigid boundaries on your home loan. NBS' Residential Redraw provides you with the flexibility of all our loan products rolled into one - with the additional feature of being able to redraw funds.


  • The ability to redraw excess principal previously repaid
  • Choice of monthly, fortnightly or weekly payments
  • Decide how quickly you want to repay your home loan; the maximum term is 25 years
    A longer term means smaller payments but you will pay more interest overall

Fixed rate - payments stay the same for the period you select. However, if you want to repay some or all of the loan while it is still on a fixed rate, you may have to pay an early repayment adjustment.

  • Some flexibility to pay your loan faster
    You can make lump sum payments totaling $50,000 within a 12 month period with no early repayment adjustment

Variable rate - payments can increase and decrease overtime with the market. Lets you repay some or all of the loan at anytime without fees.

  • Available with any type of NBS home loan

NBS Residential Redraw Interest Rates

1 Year Fixed 3.75% p.a.
2 Year Fixed 3.99% p.a.
Variable 4.95% p.a.
Interest rates are subject to change.

Residential Redraw Fees

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

Early Repayment Adjustment (ERA)

Calculating the cost of an ERA is a complicated calculation and is not the same for everyone. There are many factor that are taken into account when working out an ERA cost, therefore we recommend you contact us for a quote. You'll find more information on the procedure for calculating the cost of an ERA in your loan agreement.


Fees are subject to change.  For descriptions of the above fees refer to NBS' current loan agreement specific terms example.

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 account.

Your satisfaction is important to us.

NBS aims to provide you with the highest quality of service at all times.  If you have a problem, concern, or complaint about any part of our service, please let us know as soon as you can so that we can sort it out quickly.

We have an Internal Complaints Procedure to resolve any issues.

NBS is committed to responsible lending and has adopted the guidelines produced by the Financial Services Federation.

The Responsible Lending Guidelines have been developed by the Financial Services Federation with the assistance of a variety of stakeholders including the NZ Federation of Budgeting Services, Consumer NZ, the Families Commission Debt Working Group, the Retirement Commissioner, and officials from the Ministry of Consumer Affairs, and the Ministry of Social Development.
The Guidelines aim to improve consumer protection, raise standards across the consumer credit industry, and deliver better outcomes for borrowers and lenders and set out specific steps that lenders may need to take to assess if a credit contract will be suitable for a consumer.