UBank Home Loan

In the next couple of weeks National Australia Bank, the owner of UBank brand, is going to introduce UBank Home Loan - home loan with discounted interest rates.

The home loan will be the first credit product marketed by UBank. Until now UBank offered deposit products only:

  • USaver - high interest savings account,
  • UBank Term deposit, and
  • USaver SMSF - recently launched Self Managed Super Fund product.

The interest rate on this variable rate home loan (subject to RBA decision) is likely to be less than seven per cent. Actual price point is yet to be settled, but speculations are interest rates will be around 6.50%.

NAB's standard variable home loan rate at the moment is 7.24 per cent. Its 12-month introductory variable rate is 6.15 per cent (reverting to the standard rate later on). The bank's base variable rate is 6.74 per cent. Check all NAB Home Loans here.

If you want to find out how UBank home loan will compare with other 30 mortgage lenders in Australia - check our "Compare Home Loans" tool.

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Published on October 10-th, 2010 in Home Loans
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.
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