NAB's Home Equity Line of Credit is a great way to access the equity in your home and use it for things like home renovations, investments or other personal purchases.
It has a competitive interest rate and you only have one account to manage. You can access it at any time of the day, over the phone, online or at one of our many ATM's.
Product overview
Additional repayments
n/a
You can make unlimited deposits/repayments.1
Redraw
n/a
Withdrawals any time over the phone, online or at any of our ATMs up to the facility limit.
Repayment holiday
n/a
No principal repayments required unless facility/account limit is reached (or facility cancelled).
Interest only payment option
n/a
See above. Interest is charged monthly to your nominated account. Only pay interest on what you've used.
100% offset
n/a
Can deposit salary and other earnings into the account to reduce interest costs.
Maximum loan size as % of property value
90%
Borrow up to 90% of your property's value so you can unlock your equity for other purposes.
Flexible repayment options
Make repayments electronically as and when you want. (You just need to ensure you've covered any interest charges.)
Suitable for self-employed
Not available for 'Low Doc' process if you don't have the usual financial statements required for an application.
Can be used for building
You can use your funds as and when you need them.
Split loans
You can take out 2 different loans for the same property with just 1 application fee.
Portability
If you buy another home, you could keep the same facility and secure it against your new home.
