Home loan relief as NAB cuts fixed rates by up to 60 basis points

As the consumer price index eases down to 7%, banks are increasingly looking at cutting their fixed interest rate loans with the expectation that the Reserve Bank of Australia (RBA) will continue to halt the cash rate. 

However, despite the good news, inflation still remains far from the RBA’s 2-3% goal which could mean that interest rate rises are still on the table.

NAB cuts home loan fixed rates

Since the last RBA meeting, when it announced a pause after 10 consecutive rate hikes, a number of banks have announced cuts to their home loan interest rates.

More recently, NAB has cut back the interest rates on their fixed rate home loan products with shorter loans cut by 15 basis points (bp) and 60bp for longer loans.

NAB Tailored Home Loan 

(owner-occupier, principal and interest, fixed)

Fixed RatePrevious RateNew Rate
1-year6.09% p.a.5.94% p.a.
2-year6.09% p.a.5.84% p.a.
3-year6.09% p.a.5.59% p.a.
4-year6.39% p.a.6.09% p.a.
5-year6.49% p.a6.24% p.a.

NAB Tailored Home Loan 

(owner-occupier, principal and interest, fixed, <70% LVR)

Fixed RatePrevious RateNew Rate
1-year5.99% p.a.6.54% p.a.
2-year6.09% p.a.6.44% p.a.
3-year5.99% p.a.6.29% p.a.
4-year6.39% p.a.6.39% p.a.
5-year6.59% p.a.6.49% p.a.

If you’re looking to compare more fixed rate home loans, then Mozo has what you need. We have comparisons on all sorts of home loan providers to make sure you’re getting the loan that works for you.

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Last updated 19 February 2025 Important disclosures and comparison rate warning*
What are your home loan needs?

Your loan-to-value ratio (LVR): 50%

Loan amount and LVR will affect interest rates.

  • Basic Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR<70%
    Interest rate
    5.55 % p.a.
    Fixed 2 years
    Comparison rate
    6.05 % p.a.
    Initial monthly repayment
    $2,855
    Go to site

    No upfront or ongoing fees. Free extra repayments and redraw facility. Fast approval times. Min 30% deposit required. Borrow up to $10,000,000.

  • Offset Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR <70%
    Interest rate
    5.55 % p.a.
    Fixed 2 years
    Comparison rate
    6.28 % p.a.
    Initial monthly repayment
    $2,855
    Go to site

    Convenient offset account. No upfront or ongoing fees. Free extra repayments and redraw facility. Fast approval times. Min 30% deposit required. Borrow up to $10,000,000.

  • Fixed Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <95%
    Interest rate
    5.69 % p.a.
    Fixed 2 years
    Comparison rate
    6.20 % p.a.
    Initial monthly repayment
    $2,899
    Go to site

    Get the security of a competitive fixed rate home loan for 2 years with IMB. Get up to $4,000 cashback (T&Cs apply). Up to 12 months repayments in advance without penalties. Free Internet and Mobile Banking redraws (T&Cs apply). Up to a 30 year loan term. Split loan available. No offset account.

  • Fixed Rate Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.74 % p.a.
    Fixed 2 years
    Comparison rate
    6.16 % p.a.
    Initial monthly repayment
    $2,915
    Go to site

    Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.

  • Fixed Rate Home Loan

    • Owner Occupier
    • LVR<80%
    Interest rate
    5.74 % p.a.
    Fixed 2 years
    Comparison rate
    6.21 % p.a.
    Initial monthly repayment
    $2,915
    Go to site

    Get repayment security with fixed rates from one to five years. Free extra repayments of up to $25,000 during the fixed rate period. Fix a portion of your loan and leave the rest variable. Choose to repay weekly, fortnightly, or monthly.

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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