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NAB increases fixed rates for the second time in just over a week

Eden Radford avatar
Eden Radford
- 2 min read
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NAB has today increased its fixed rates for owner-occupiers and investors by up to 0.20 percentage points, after an increase to the same rates last Friday.

The increases, combined with the hikes from Friday 21 July, have seen some rates increase by up to 0.50 percentage points in the space of eight days.

Changes to NAB’s lowest fixed rates

For owner-occupiers paying principal and interest

Fixed termOld rateNew rateChange %-ptsTotal %-pts change for both hikes (21 + 28 Jul)
1-yr6.54%6.59%+0.05+0.35
2-yr6.44%6.54%+0.10+0.40
3-yr6.29%6.39%+0.10+0.40
4-yr6.39%6.59%+0.20+0.50
5-yr6.49%6.69%+0.20+0.50

Source: RateCity.com.au. LVR requirements apply.

RateCity.com.au research shows 71 lenders have lifted at least one fixed rate in the last month, which equates to 63 per cent of the RateCity.com.au database.

Lenders that have changed at least one fixed rate in the last month

Fixed termLenders that have cutLenders that have hiked
1-yr364
2-yr366
3-yr458
4-yr233
5-yr537

Source: RateCity.com.au. Note some lenders have changed more than one fixed rate.

RateCity.com.au research director, Sally Tindall, said: “Another round of fixed rate hikes from NAB will have borrowers hoping to lock in their rate rattled.”

“When push comes to shove, borrowers are overwhelmingly opting to go variable, giving banks the runway to hike fixed rates with little consequence,” she said.

“If borrowers are looking to fix anytime soon they’d do well to keep an eye on what the big banks are doing, or better yet, look beyond them,” she said.

Big four banks’ lowest advertised fixed rates 

Fixed termCBAWestpacNABANZ
1-yr6.74%6.49%6.59%6.54%
2-yr6.84%6.39%6.54%6.54%
3-yr6.64%6.39%6.39%6.39%
4-yr6.69%6.39%6.59%6.49%
5-yr6.69%6.69%6.69%6.59%

Source: RateCity.com.au. Rates are for owner-occupiers paying principal and interest. LVR requirements apply.

Lowest fixed rates on RateCity.com.au

Fixed termLenderRate
1-yrThe Capricornian5.45%
2-yrAustralian Mutual Bank5.23%
3-yrAustralian Mutual Bank5.33%
4-yrQudos Bank5.84%
5-yrRACQ5.34%

Source: RateCity.com.au. Rates are for owner-occupiers paying principal and interest. LVR requirements apply.

Compare home loans in Australia

6.04%

6.08%

$3,234

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Australian Credit Licence 395219

Fees & charges apply

  • Promoted
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  • Variable
  • 10% min deposit
  • P&I

6.04%

5.95%

$3,234

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5.69%

6.13%

$3,127

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Australian Credit Licence 395219

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  • Promoted
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  • Fixed 3 years
  • 10% min deposit
  • P&I

6.84%

6.84%

$3,483

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Australian Credit Licence 234527

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  • Promoted
  • Cashback
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  • 10% min deposit
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6.70%

6.90%

$2,792

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Australian Credit Licence 234945

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  • Promoted
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6.71%

6.75%

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Australian Credit Licence 230686

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  • 10% min deposit
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6.95%

6.64%

$2,896

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Australian Credit Licence 234945

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  • Promoted
  • Investor
  • Variable
  • 40% min deposit
  • Interest Only

7.21%

7.02%

$3,004

Australian Credit Licence 230686

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Tailored Home Loan
  • Owner Occupied
  • Variable
  • 20% min deposit
  • Interest Only

7.54%

7.24%

$3,142

Australian Credit Licence 234527

Fees & charges apply

ANZ Banking Group Limited
Standard Variable Loan
  • Cashback
  • Owner Occupied
  • Variable
  • 20% min deposit
  • Interest Only

Product database updated 28 Feb, 2025

This article was reviewed by Research Director Sally Tindall before it was published as part of RateCity's Fact Check process.

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