Trusted name, new game: NRMA Insurance scoops top home loan awards
When you hear the name NRMA, you probably think of trusted insurance that Aussies have relied on for decades. But NRMA Insurance has now stepped into the home loan space, aiming to provide Aussie borrowers with the same reliability and value that has kept them a household name for over 90 years.
And so far they are making all the right moves. There is no application fees on its Variable Offset Home Loan, but there is a $15 a month service fee. It comes with a handy offset account to help you save on interest repayments as well as a free online redraw. And you only need a 10% deposit to apply.
Lengthy application processes are also done away with. NRMA Insurance says the application should only take 20 minutes to complete online.
There are some eligibility criteria to be aware of. The home loans are only available for properties in capital cities and major regional centres and excludes properties in Victoria. And you must be purchasing an established property to live in, not land or off-the-plan.
But if you’re eligible and you’re looking for a big bank alternative and want a trusted and reliable provider, NRMA Insurance might be a good home loan fit for you – see below for more details.
VARIABLE HOME LOAN
NRMA Insurance Variable Offset Home Loan
- Rate cut now live!
- 5.53% p.a. variable rate (5.74% p.a. comparison rate*)
- Zero application fees to pay
- Free additional repayments and online redraw
Enjoy a competitive interest rate on up to a 30 year loan term with the NRMA Insurance variable offset home loan. There is no application fee to pay but there is a $15 monthly service fee to consider. You get a 100% offset account and you can make unlimited additional repayments to pay your home loan off sooner. You’ll also get free online redraw. 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.
FIXED HOME LOAN
NRMA Insurance 2 Year Fixed Offset Home Loan
- 5.29% p.a. 2 year fixed rate (5.69% p.a. comparison rate*)
- Zero application fees to pay
- Free additional repayments up to $20,000 per year
Other low rate digital home loan deals
Unloan Variable Home Loan
- New 5.49% p.a. variable rate (5.40% p.a. comparison rate*)
- Low cost home loan winner - Mozo Experts Choice Awards 2023, 2024 & 2025^
- Zero upfront or ongoing fees
Unloan’s Variable Home Loan has taken out a low cost home loan award for an impressive third year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.49% p.a. variable rate (5.40% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.
uBank Flex Variable Home Loan
- 5.64% p.a. variable rate (6.89% p.a. comparison rate*)
- Free extra repayments and redraw facility
- Multiple offset accounts available
Whether you’re buying or refinancing, uBank’s Flex Variable Home Loan gives you lots of options. You can get a 100% interest offset across multiple Spend, Bills and Save accounts and make as many additional payments as you want at no extra charge (T&Cs apply). On top of all that, this loan offers the perfect balance of flexibility and security, that you can split your Flex variable home loan with a uBank fixed home loan too. 40 % deposit required. Annual fee to pay.
loans.com.au Variable Rate 90
- Variable interest rate from 5.54% p.a. (5.58% p.a. comparison rate*) for LVR < 90%
- No application fees to pay
- Optional offset
If you're in the market for a competitive rate on a variable home loan, online lender loans.com.au has come through with the goods. There are no application fees to pay and you only require a 10% deposit to get started. You can borrow between $50,000 to $2,000,000, plus, you’ll have the freedom to make free extra repayments, and redraw them without penalty too. $300 settlement fee applies. (T&Cs apply).
* 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.