Just found this home loan reward point deal.
350,000
NAB REWARDS
POINTS
with an eligible NAB Home Loan and Banking Bundle*
3 STEPS TO LAND 350,000 NAB REWARDS POINTS WITH AN ELIGIBLE
NAB HOME LOAN AND BANKING BUNDLE*
1- NAB Home Loan
2- NAB Rewards Credit Card
3- NAB Transaction Account
When you factor the higher rate you'll be paying for the loan, it's not much of a bargain…
It's only a higher rate if you don't negotiate
Actually this deal could be particularly appealing to first home buyers as NAB are offering a special 2 year fixed rate of 3.69%p.a. (CR n/a) to them in conjunction with this points reward. So it is arguable with that kind of rate from a major bank, plus the points reward, the deal actually has its merits depending on the borrower profile/preferences.
NB: We posted this deal on our website yesterday along with a bonus of a $1000 eGift card.
$1000 additional gift card for borrowing over 400k. Correct ?
Is there any gift card offer for borrowing less than 400k ?
@talktoronak: Thanks for the questions :)
$1000 additional gift card for borrowing over 400k. Correct ?
Yes. That's correct.
Is there any gift card offer for borrowing less than 400k ?
Not as standard under our present promotion. However, we're happy to see what we can do on a case-by-case basis for smaller loans so please don't feel shy to contact us if you were evaluating a scenario.
PS Just a reminder that this NAB offer is targeted at $250,000+ borrowers - so if your scenario was smaller than that we'd be fairly limited in our ability to assist with respect to this deal.
Hope this helps.
Great question :)
To quote NAB's published eligibility guide:
"Eligibility criteria:
Customers must meet all of the following requirements in order to access this special offer:
- All home loan applicants must be first home buyers purchasing a residential property (i.e. not available for customers who currently have or have previously purchased a property; product swaps are not available).
- Owner occupier, principal and interest customers only; excludes external and internal refinances; maximum of 90% LVR applies.
- The Choice Package annual fee of $395 per annum applies"
As such, it would appear that a refinance approval is not a prime candidate under this first home buyer promotional pricing campaign (but could possibly qualify for the 350K points reward).
That said, if you had a specific scenario you were evaluating we'd be happy (as NAB accredited brokers) to get a comment directly from NAB credit assessment to determine your eligibility prior to making any formal finance application. If you wanted some assistance with that please feel free to send us a PM as it would be our pleasure to assist.
Hope this helps.
or the resultant loss of hair from dealing with NAB.
350,000 NAB REWARDS POINTS
I think that's enough to redeem a citrus juicer…
350K points = $1800 coles gift card.
a diamond encrusted citrus juicer…
phew!, good recovery there JV.
or the Thermomix juicer attachment
If you go via Naritas for this home loan, they are giving $1000 worth of gift card as well.
you might want to mention this is for new customer/loan only. not available to existing poor NAB loan takers.
So if I'm already a NAB customer without a homeloan I can't get this?
Generally speaking, we've not seen NAB transactional customers barred from this offer. So it would be surprising to us if you were blocked from it - however, it would be best to speak with NAB or a NAB accredited broker to discuss your circumstances in detail and get them to confirm eligibility in writing after your customer number has been checked.
PS People we've seen blocked are typically trying to refinance a home loan with NAB (including their other brands such as uBank & Adavantedge) into this offer.
Hope this helps.
Do you have any deals for borrowers over 750K?
What is the interest rates, one would be looking?
Cheers
@knowwhat:
Thanks for the questions, answers below.
Do you have any deals for borrowers over 750K?
Yes we do. As a store rep, however, we can't post a deal in the comments section of this deal because it is against OzB store rep T&Cs.
What is the interest rates, one would be looking?
Generally speaking, sharp rates from banks for over $750 would in the range of 3.6x%p.a.-3.7x%p.a. depending on your preferences of lender, product features, LVR and loan structure. Dependent on your scenario you may be entitled to a cashback offer or some other reward (such as points like is on offer in this deal).
Hope this helps.
God help anyone stupid enough to let loyalty program points figure in their decison about who to take out a loan from.
That's what NAB are relying on…
If you're tossing up between 2 banks and NAB happens to be one of them. This could be the tipping point. I highly doubt someone would choose NAB straight off the bat because of this offer.
If you're tossing up between 2 banks
I think I'll stop reading right there…
Anyone got any rate offers from NAB? Only worth it if its close to what others/brokers are offering.
3.87% variable w/offset P+A 480k loan <80% LVR
That's good. Best I could get (interest only) was 3.95 on $548k (ANZ)
Getting 3.99% I/O fixed Suncorp.
Investment or owner occupied?
owner occupied
Pm me if u need rates offer for ur home loan.
BANKING BUBBLE*?
A note for anyone thinking about combining this offer and the NAB rewards credit card offer:
Important information if you apply for a NAB Home Loan between 1 April and 31 August 2017.
If you qualify for the NAB Rewards Credit Card offer, then your 80,000 NAB Rewards credit card bonus points, will be awarded within 3 months of meeting the eligibility criteria. If you also apply for a NAB Home Loan between 1 April and 31 August 2017 and meet the eligibility criteria for the 350,000 NAB Rewards Points Home loan offer, you will receive 350,000 NAB Rewards Points less your 80,000 credit card bonus points already awarded.
Thanks for the clarification, I was gonna ask about if 80K and 350K are double dip.
How much are the exit fees with a NAB home loan?
Just wondering, if you got a decent comparable rate, could it be worth going with the NAB for say 1-2 years to get this deal, then transfer out to another loan?
(Obviously there's also possible refinance fees from the lender you're transferring to to consider as well, but they'll differ vastly I'd imagine)
Cheers
Just a note for those who got excited without reading carefully like me - these are NAB rewards points, not Velocity points. They convert to Velocity at 2:1, so 175k. Nothing to sneeze at, but not quite as good as the old 250k Velocity points which was around for a fair while.