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-year6.14% p.a.5.99% p.a.
2-year6.34% p.a.6.09% p.a.
3-year6.34% p.a.5.99% p.a.
4-year6.99% p.a.6.39% p.a.
5-year7.09% p.a.6.59% 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.

Home loan comparisons on Mozo - last updated 9 December 2023

Search promoted home loans below or do a full Mozo database search . Advertiser disclosure
  • Home Fixed Rate

    Owner Occupier, Principal & Interest, Refinance Only

    interest rate
    comparison rate
    Initial monthly repayment
    6.40% p.a.
    fixed 4 years
    6.24% p.a.

    Enjoy the security of a competitive fixed interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply). Mozo Experts Choice award winner.

  • Basic Home Loan

    Fixed, Investment, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.79% p.a.
    fixed 3 years
    6.64% p.a.

    Lock in repayments from 1 to 5 years. Competitive rate tiers depending on your LVR. No application or annual fee. Fast, secure online application.


* 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.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.