UPDATED JUN 14, 2026

NRMA Home Loans: The 2026 Review

Fast, digital applications with no annual fee for life. Watch out for a $375 annual fee on Home Package Plus. Ready to streamline your home loan experience?

Bheja Verdict

Good

3.8/5
✓
Highly competitive rates across products
✓
Wide range of loan options
Check Eligibility

NRMA Home Loans Home Loans At a Glance

🏷️Best Rate Available

5.94%

Variable • Owner Occupied

💳Application Fee

$0

Fee-free options available

📅Monthly Fee

$0

Fee-free options available

Loan Range:$50K - $100.0M
LVR:Up to 95%
Products:102 variations
Offset Account:Available

Current NRMA Home Loans Home Loan Rates

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Average Rate
6.16%
Best Rate
6.08%
Monthly Payment
$3,024
Advanced
  • NRMA Home Loans

    NRMA Basic Home Loan

    NRMA Home Loans

    20%-30% DepositRedraw
    6.08%
    Interest Rate
    Variable
    6.12%
    Comparison Rate*
    $3,024
    per month
    Principal And Interest
    Fees:
    Discharge $350+ other fees may apply
  • NRMA Home Loans

    NRMA Offset Home Loan

    NRMA Home Loans

    20%-30% DepositOffsetRedraw
    6.08%
    Interest Rate
    Variable
    6.28%
    Comparison Rate*
    $3,024
    per month
    Principal And Interest
    Fees:
    Ongoing/month $15Discharge $350+ other fees may apply
  • NRMA Home Loans

    NRMA Offset Home Loan

    NRMA Home Loans

    10%-20% DepositOffsetRedraw
    6.33%
    Interest Rate
    Variable
    6.53%
    Comparison Rate*
    $3,105
    per month
    Principal And Interest
    Fees:
    Ongoing/month $15Discharge $350+ other fees may apply

* Comparison rate is calculated on a loan amount of $150,000 over 25 years. Rates and fees are subject to change. Terms and conditions apply.

+ Only key fees (application, discharge, ongoing) are displayed - other fees such as redraw, administration, and processing fees may also apply.

NRMA Home Loans Product Statistics

Real-time insights and market analysis

NRMA Home Loans offers 2 home loan products across 102 variations, the average variable rate is 6.59% p.a., the best available rate is 5.94% p.a..

Average Variable Rate

6.59%

37 products

Average Fixed Rate

6.80%

65 products

Best Available Rate

5.94%

Variable • Owner Occupied • P&I

Total Products

2

102 variations

Fee Summary

Application Fee

100% fee-free

$0

Monthly Fee

35% fee-free

$0 - $15

Discharge Fee

$350

Late Payment Fee

$35

Key Features

Across NRMA Home Loans's range: 66 include an offset account, 102 offer redraw, 102 allow extra repayments.

Offset Account
65%
Redraw Facility
100%
Extra Repayments
100%
Split Loan
—

Product Ranges

NRMA Home Loans's interest rates range from 5.94% to 7.39% p.a., maximum LVR from 50% to 95%, loan amounts span $50,000 to $100,000,000.

Interest Rates5.94% — 7.39%
Max LVR50% — 95%
Loan Amount$50K — $100.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How NRMA Home Loans Compares

FEATURENRMA Home LoansDarling Downs BankBroken Hill BankAussie ElevateTiimely Home
Best Variable Rate
5.94%BEST
6.39%
5.94%
6.09%
5.95%
Best Fixed Rate (3yr)
6.49%
—
—
6.49%
6.39%
Application Fee
$0BEST
$600
$855
$199
$0
Monthly Admin Fee
$0BEST
$0
$0
$0
$0
Offset Account
Redraw Facility
Product Variations
102
45
13
96
102
💡

Bheja Insight: NRMA Home Loans currently leads with the lowest variable rate among other lenders, making it a strong choice for borrowers seeking flexibility.

About NRMA Home Loans

Company overview and contact information

NRMA Home Loans, under the ownership of Suncorp Group Limited, is currently in the process of being sold to ANZ. As part of Suncorp Bank, it benefits from the stability and experience of a well-established financial institution. The bank was formed through the merger of Suncorp, QIDC, and Metway Bank, creating a robust entity in the Australian financial landscape.

NRMA Home Loans offers two main home loan products with 102 variations, featuring competitive rates ranging from 5.94% to 7.39%. They cater to a wide range of customers through both branch and online services. A notable offering is the Home Package Plus, which includes no annual fees for the life of the loan, providing significant savings for borrowers.

What sets NRMA Home Loans apart is their partnership with Tic:Toc, a digital platform that ensures a fast and simple application process. This innovative approach, combined with their award-winning reputation, positions them as a competitive choice in the home loan market. Their APRA-regulated status further assures customers of their reliability and compliance.

Company Details

Legal Name: Suncorp Bank
ABN: 66010831722
ACN: 068049178
Ownership: In process of being sold to ANZ
Parent Company: Suncorp Group Limited

Key Features

NRMA Home Loans provides borrowers with flexible and cost-effective home loan options, featuring multiple offset accounts, competitive interest rates, and streamlined digital applications.

Offset Accounts

NRMA Home Loans offers up to six 100% offset accounts per loan, applicable to both variable and fixed rate loans. This feature allows borrowers to reduce the interest payable, potentially saving thousands over the life of the loan. For QANTAS Money Home Loans, offsets must be linked to the same customer number as the home loan.

Redraw Facility

Borrowers can access a manual and online redraw facility with NRMA Home Loans, providing the flexibility to withdraw any extra repayments made. This feature offers convenience and financial management by allowing access to funds when needed.

Additional Repayments

NRMA Home Loans allows unlimited additional repayments on variable loans and up to $20,000 per year on fixed loans without penalties. This feature enables borrowers to pay down their loan faster and reduce interest costs.

No Ongoing Fees

The NRMA Basic Home Loan is designed with no ongoing fees, providing cost savings for borrowers seeking a straightforward loan option without additional charges.

Digital Application Process

In partnership with Tic:Toc, NRMA Home Loans offers a streamlined digital application process, allowing for online pre-approval and completion in as little as 15 minutes. This enhances convenience and speeds up the borrowing process.

Interest Rate Discounts

NRMA Home Loans provides competitive interest rates starting from 5.94% p.a., aligning closely with market rates to offer cost savings on loan repayments.

Monthly Repayments

NRMA Home Loans requires monthly repayments, providing a consistent and manageable repayment schedule for borrowers.

Special Offers

Eligible NRMA Home Loans customers receive a 30% discount on alarm purchases and installations, adding value and enhancing home security at a reduced cost.

Loan-to-Value Ratio (LVR)

NRMA Home Loans offers loans with an LVR of 50% or less for certain products, providing favourable terms for borrowers with substantial equity.

Fees & Charges

NRMA Home Loans offers a transparent fee structure with several waived fees for eligible borrowers, though some costs, such as break fees for fixed-rate loans, may apply.

Fee Type
Amount
Description
Application Fee
$0
No application fee is charged for setting up the loan.
Security Processing Fee
$0
No fee for processing the security documentation.
Duplicate Fee
$16.5
Charged for providing duplicate copies of documents.
Settlement Service Fee
$345.4
Charged at the time of loan settlement for processing services.
Monthly Service Fee
$15/month
Charged monthly for the administration and servicing of the loan.
Discharge Administration Fee
$350
Charged when the loan is fully repaid and discharged.
Break Cost Fee
Variable
Applies during a fixed-rate period if certain conditions are met, such as changing the interest rate or making large additional repayments.
Default Fee
$35
Charged when a payment is missed or late.
Variation Fee
$250
Charged for making changes to the loan contract.
Home Package Plus Annual Fee
$375/year
Annual fee for the Home Package Plus, which includes various benefits.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

NRMA Home Loans offers accessible home loan options for individuals over 18, focusing on flexibility and competitive terms for properties in capital cities and regional areas.

Applicants must be at least 18 years old.
Applicants must provide proof of residency or citizenship in Australia.
Proof of income is required to assess repayment capacity.
Applicants must meet credit and lending criteria.
A minimum deposit of 10% is required.
Loan-to-Value Ratio (LVR) must be between 50% and 95%.
Lenders Mortgage Insurance (LMI) is required for loans with an LVR above 80%.
Property must be located in a capital city or regional area.
Loan amounts must range between $50,000 and $99,999,999.

Important Notes

  • LMI is required for loans with an LVR above 80%, impacting overall costs.
  • Minimum deposit requirement is 10%, affecting initial outlay.
  • Special programs like the Home Package Plus offer no annual fee for life of the loan.
  • Digital home loan product available for a fast application process with Tic:Toc.

NRMA Home Loans Home Loan Pros & Cons

Our expert take on whether NRMA Home Loans is right for you

Pros

  • +Competitive interest rates close to market average
  • +Up to six 100% offset accounts per loan
  • +Unlimited additional repayments on variable loans
  • +$2,500 cashback for refinancing in 2026
  • +No annual fee for life of loan with Home Package Plus

Cons

  • –Reports of poor customer service
  • –High annual fee of $375 for Home Package Plus
  • –Potential discontinuation of new home loans by May 2026
  • –Break costs for fixed rate loans

Best For

  • Tech-savvy borrowers seeking a digital application process
  • Homeowners looking for multiple offset accounts
  • Borrowers interested in cashback offers

Not Ideal For

  • Customers prioritizing excellent customer service
  • Borrowers concerned about potential product discontinuation
💡

Bheja Verdict: NRMA Home Loans offers competitive rates and a digital-friendly experience, but potential borrowers should be wary of customer service issues and possible product discontinuations.

Expert Secrets (Why Use Us?)

Insider knowledge about NRMA Home Loans that most borrowers don't know

LMI Cost Examples

1For a $500,000 loan at 85% LVR, LMI is $6,000.
2At 90% LVR, the LMI cost rises to $12,500 for the same loan amount.
3A 95% LVR on a $500,000 loan incurs an LMI of $21,000.
4For a $750,000 loan at 85% LVR, LMI is $9,000.

Fee Waivers

Save up to $11,250 by waiving the annual fee for new loans over $150,000 with the Home Package Plus.

Offset Benefits

A $10,000 offset saves approximately $51 per month, totaling $612 annually.
A $25,000 offset saves approximately $127 per month, totaling $1,524 annually.
A $50,000 offset saves approximately $253 per month, totaling $3,036 annually.
A $100,000 offset saves approximately $507 per month, totaling $6,084 annually.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps
1
Submit Discharge Request Form: Obtain and complete the discharge request form from the NRMA Home Loans website or contact customer service for assistance. (Tip: Ensure all details are accurate to avoid delays.)
2
Pay Discharge Administration Fee: Pay the $350 discharge administration fee as required by NRMA Home Loans. (Tip: Confirm payment methods and keep a receipt for your records.)
3
Confirm Loan Repayments: Ensure all loan repayments are up to date before proceeding with the discharge process. (Tip: Check your loan account balance and clear any outstanding amounts.)
4
Wait for Processing: The discharge process typically takes 7-10 business days, but can extend up to 20 days. (Tip: Monitor your email or contact customer service for updates on the status.)
5
Settlement Booking: Coordinate with your settlement agent to finalize the discharge and settlement process. (Tip: Communicate any specific timing needs to your agent to ensure a smooth transition.)

Processing Times

Discharge Process7-10 business days, up to 20 days

Required Documents

Discharge Form
💡

Pro Tips

  • Request the discharge at least 2 weeks before your planned settlement date to avoid delays.
  • Keep a copy of all submitted documents and payment receipts for your records.
  • Contact customer service at 13 11 75 for any questions or clarifications.
  • Ensure all personal information is current and correct on the discharge form.
  • Consider discussing potential fee waivers or negotiations with your lender.

NRMA Home Loans Mortgage Calculator

Estimate your repayments using current NRMA Home Loans home loan rates

Over 30 years, borrowing $480,000 at 5.94%, total cost including interest and known fees could be around $1,030,079. Estimated monthly repayment: $2,859.35.

Estimated total cost over 30 years
$1,030,079
Estimated repayment
$2,859.35
monthly repayment
Amount you borrow: $480,000 · At 5.94% · Variable — can change with the market

Known fees in this estimate

Settlement fee
$345
Document fee
$17
Discharge fee
$350
Total ongoing fees (30 yrs)
$0
How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow
$480,000
Total interest
$549,367
Upfront fees
$362
Ongoing fees
$0
Discharge fee
$350
Estimated total cost
$1,030,079
  • These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
  • Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
  • Split loans and offset accounts aren't included in this estimate.
  • For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if NRMA Home Loans is right for you? Our brokers can help you compare options.

Frequently Asked Questions

The approval process for NRMA Home Loans can take up to 20 business days, so it's important to plan accordingly.

4.8(4 reviews)

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