UPDATED JUL 16, 2026

NRMA Home Loans Home Loans: The 2026 Review

Enjoy a free financial planning session valued at $300 for new customers. Be aware of high discharge fees during fixed periods. Ready for smarter home financing?

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

Last updated: July 2026

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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 LoansMoulaMoneyPlaceAussie ElevateDarling Downs Bank
Best Variable Rate
5.94%BEST
—
—
6.09%
6.39%
Best Fixed Rate (3yr)
6.49%BEST
—
—
6.49%
—
Application Fee
$0BEST
$0
$0
$199
$600
Monthly Admin Fee
$0BEST
$0
$0
$0
$0
Offset Account
——
Redraw Facility
——
Product Variations
102
0
0
96
45
💡

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, an independent entity under the ownership of Bendigo Bank, offers a blend of traditional and modern banking through its branches and online platforms. While specific founding details are unavailable, the company operates with a focus on providing accessible and flexible home loan solutions. Their offerings are designed to cater to a diverse range of customers seeking competitive rates and personalized service.

With two main home loan products and 102 variations, NRMA Home Loans offers interest rates ranging from 5.94% to 7.39%. This variety ensures that potential homeowners can find a loan that suits their financial needs and goals. The company is recognized for its fast online application process, making it a convenient choice for tech-savvy customers who prefer digital solutions.

NRMA Home Loans stands out in the market with its award-winning service, having received accolades such as the Mozo Experts Choice and Finder Product Awards in 2026. These recognitions highlight their commitment to excellence and customer satisfaction, positioning them as a reputable choice for homebuyers seeking reliable and efficient lending options.

Company Details

Legal Name: NRMA Home Loans
ABN: 11068049178
ACN: 068049178
Ownership: Independent
Parent Company: Bendigo Bank

Key Features

NRMA Home Loans provides flexible and competitive home loan options with features like up to six 100% offset accounts, unlimited additional repayments on variable loans, and a streamlined online application process.

100% 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 by offsetting the loan balance with their savings, providing significant interest savings over time.

Unlimited Additional Repayments

Borrowers with NRMA variable rate loans can make unlimited additional repayments, enabling them to pay down their loan faster without any penalties. For fixed loans, additional repayments are capped at $20,000 per year, offering flexibility while maintaining fixed rate benefits.

Manual & Online Redraw

NRMA Home Loans allows borrowers to access extra funds paid into their loan through both manual and online redraw options. This feature provides financial flexibility by enabling access to additional repayments if needed.

No Ongoing Fees

NRMA’s Basic Home Loan comes with no ongoing fees, reducing the overall cost of the loan and providing savings to borrowers over the life of the loan.

Fast Online Application

NRMA Home Loans offers a fast online application process, allowing borrowers to obtain pre-approval in minutes. This digital feature streamlines the application process, making it convenient and efficient for borrowers.

Award-Winning Products

NRMA Home Loans has been recognised with awards such as the Mozo Experts Choice and Finder Product Awards in 2026, highlighting the quality and competitiveness of their loan products.

Home Security Discount

Eligible NRMA Home Loan customers can receive a 30% discount on home security systems, providing additional value and peace of mind.

Monthly Repayments

NRMA Home Loans require monthly repayments, allowing borrowers to manage their cash flow effectively with predictable payment schedules.

Minimum Deposit Requirements

The Basic Home Loan requires a minimum deposit of 20%, while the Offset Home Loan requires only 10%, making it accessible for borrowers with varying deposit capabilities.

Free Financial Planning Session

New customers of NRMA Home Loans receive a complimentary financial planning session valued at $300, offering expert advice to help manage their financial goals.

Fees & Charges

NRMA Home Loans offers a transparent fee structure with several waivers available for first-time and online applicants. Borrowers should be aware of potential costs during fixed rate periods and at loan discharge.

Fee Type
Amount
Description
Application Fee
$0
No application fee is charged for any NRMA Home Loans product.
Security Processing Fee
$0
No fee is charged for processing security documents.
Duplicate Fee
$16.5
Charged for issuing duplicate documents.
Settlement Service Fee
$345.4
Charged at settlement, waived for first-time home buyers applying before June 2026 and for online applications submitted before July 27, 2026.
Monthly Service Fee
$15/month
Charged monthly for loan administration and servicing.
Discharge Administration Fee
$350
Charged when ending the loan.
Break Cost Fee
Variable
Applies during a Fixed Rate Period if certain conditions are met, such as changing the 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 terms.
Manual Redraw Fee
$0
No fee for manually redrawing funds from the loan.

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

Eligibility Criteria

NRMA Home Loans offers flexible and accessible home loan options for individuals over 18, with a focus on meeting diverse financial needs and providing competitive loan-to-value ratios.

At least 18 years old
Must be an Australian citizen or permanent resident
Proof of income and expenses required
Must be employed full-time or part-time for at least 6 months, or have 12 months continuous service in the same industry
Credit and lending criteria apply
Loan-to-Value Ratio (LVR) between 50% and 95%
Loan amount must be between $50,000 and $99,999,999
Form of ID required
Proof of employment required

Important Notes

  • Lenders Mortgage Insurance (LMI) required if borrowing more than 80% LVR, which may increase loan amount and repayments.
  • Digital-only application process may not suit everyone, potentially causing application errors or delays.
  • Home Security Offer: 30% off alarm and CCTV systems for eligible customers. Check the details of a particular offer before making an application.

NRMA Home Loans Home Loan Pros & Cons

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

Pros

  • +Rates below market average
  • +Up to six 100% offset accounts
  • +Unlimited additional repayments on variable loans
  • +Cashback offers for refinancers
  • +Award – winning service

Cons

  • –High discharge fee
  • –LMI applies for loans over 80% LVR
  • –Minimum employment requirements

Best For

  • Borrowers seeking multiple offset accounts
  • Homeowners looking to save on monthly repayments
  • Refinancers interested in cashback offers
  • Customers valuing award-winning service
  • Borrowers wanting flexible repayment options

Not Ideal For

  • Borrowers needing LMI waivers
  • Those with less than 6 months of employment in their current role
💡

Bheja Verdict: NRMA Home Loans offers competitive rates below the market average, making it a cost-effective choice for many borrowers.

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 costs $6,000.
2At 90% LVR, a $500,000 loan incurs $12,500 in LMI.
3A $500,000 loan at 95% LVR requires $21,000 in LMI, with no waiver available.
4A $750,000 loan at 85% LVR has an LMI cost of $9,000.

Fee Waivers

Settlement Service Fee Waiver: $345.4 fee waived for first-time home buyers applying before June 2026.
Online Application Waiver: $345 fee waived for applications submitted online before July 27, 2026, with settlement by January 27, 2027.

Offset Benefits

A $10,000 offset account can save approximately $50 per month, totaling $600 annually.
With a $25,000 offset, you can save around $124 monthly, or $1,488 annually.
A $50,000 offset results in savings of about $248 per month, equating to $2,976 annually.
Maximizing a $100,000 offset can save approximately $495 monthly, totaling $5,940 annually.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

4 Steps
1
Contact NRMA Home Loans: Call NRMA Home Loans at 1300 247 020 during business hours to initiate the discharge process. (Tip: Have your loan account details ready when you call.)
2
Pay Discharge Administration Fee: Pay the $350 Discharge Administration Fee as required by NRMA Home Loans. (Tip: Ensure all outstanding fees are settled to avoid delays.)
3
Complete Discharge Forms: Fill out any discharge forms provided by NRMA Home Loans. These forms are necessary to process your discharge request. (Tip: Keep a copy of all forms for your records.)
4
Submit Forms and Await Confirmation: Submit the completed forms to NRMA Home Loans and wait for confirmation of your loan discharge. (Tip: Follow up with NRMA if you haven't received confirmation within the expected timeframe.)

Processing Times

Discharge Process10-14 business days
💡

Pro Tips

  • Request the discharge at least 2 weeks before your desired settlement date.
  • Ensure all loan payments are up to date before initiating the discharge.
  • Keep a record of all communications and confirmations from NRMA.
  • Consider contacting a settlement agent to assist with the process.
  • Check if any fees can be negotiated or waived.

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

Pre-approval is typically granted within a few business days and is valid for 60 days, giving you time to find the right property.

4.8(4 reviews)

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