Thoroughbred Home Loan - Flexible

Gives you the ability to redraw or actively manage your finances.
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The Thoroughbred Flexible Home Loan gives you the most flexibility over how you use your money. It is ideal for people who like to have control over their finances, have surplus income, or whose income varies. A Thoroughbred Flexible Home Loan is not available for business purposes.

How does it work?

  • A Thoroughbred Flexible Home Loan is a home loan and a transaction account all in one.
  • It works like an overdraft. You can re-borrow funds up to your loan limit, and you can make lump sum repayments at any time.
  • You may be able to combine all your debt at the one home loan interest rate, which is generally lower than other forms of borrowing.
  • You can earn interest on credit balances.
  • There is a single monthly account fee of $12.50 that covers all account and transaction fees for everyday transactions on your Flexible Home Loan.
  • You have easy access to your account through Online Banking, touchtone phone banking, ATMs, EFTPOS or cheque.
  • You may be able to borrow between $10,000 and $350,000.
  • It could help you minimise interest payments (see below).

Here's how a Flexible Home Loan could help you minimise interest payments:

Interest on loan balances is calculated daily. So you may be able to reduce the amount of interest you pay by:

  • Direct crediting your income and then withdrawing money only when you need to.
  • Linking your Flexible Home Loan to a Thoroughbred Card. By purchasing all your day-to-day items on your Thoroughbred Card you can use the up to 55 day interest-free period on your card to further reduce your loan balance for that period. Then pay off your credit card balance in full so as not to incur interest on your credit card.
  • Consolidating all your borrowing into your Flexible Home Loan instead of borrowing on a credit card, personal loan or overdraft. Home loan interest rates are generally lower than other forms of borrowing.

For example:

Comparing Repayments

This example is based on a joint annual income of $68,000, monthly expenses of $2,850, with all income direct credited to the Flexible Home Loan, and the full use of a Thoroughbred Card with up to 55 days interest free period on your Thoroughbred credit card account.

What next?

Check out our competitive home loan interest rates and the comprehensive information and resources in our Home Buyers Centre.

You may wish to apply online for a conditionally pre-approved home loan to get an indication of how much you can spend on a home before you start looking. Or, apply online for a home loan now.

If you prefer, call 0800 185 185 to talk to a lending specialist, find a Mobile Mortgage Manager near you, e-mail us, visit our Home Buyers Centre or come into any branch.

Read our Disclosure Statement.

Our lending criteria and an application fee apply. Where borrowing over 80% of a property's value is approved, a Low Equity Premium on a graduated scale will apply and a Registered Valuer's Report will be required. An Early Repayment Recovery applies for total voluntary repayments greater than 5% p.a. of the outstanding balance on a fixed interest rate loan. (Home Loan fees).

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If you’d like to talk further about any of these options, call 0800 18 18 18, contact any branch, or e-mail us.

Read our general disclosure statement and our disclosure statement prepared under the Securities Markets Act 1988.

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The taxation treatment of Portfolio Investment Entities is covered in the Investment Statement (PDF 138KB).

* ANZ Investment Services (New Zealand) Limited is the issuer/manager of the National Bank Call Fund. The New Zealand Guardian Trust Company Limited is the Trustee of the Fund. The National Bank of New Zealand, part of ANZ National Bank Limited is the distributor of units in the Fund. Units in the Fund do not represent deposits or other liabilities of ANZ National Bank Limited. An investment in the Fund is subject to investment risk, including possible delays in repayment and loss of income and principal invested. No member of the ANZ National Bank Limited Group, the New Zealand Guardian Trust Company Limited or any other person guarantees (either partially or fully) ANZ Investment Services (New Zealand) Limited or the capital value or performance of the Fund or any other products issued by them.

^ A copy of The National Bank KiwiSaver Scheme Investment Statement is available as a PDF at the below link, or you can request one to be sent to you by calling 0800 156 020 Guardian Trust Superannuation Trustees Limited is the issuer of The National Bank KiwiSaver Scheme, ING (NZ) Limited is the Administration and Investment Manager and The National Bank of New Zealand, part of ANZ National Bank Limited, is the Distributor. Units in the Scheme do not represent deposits or other liabilities of ANZ National Bank Limited. Units are subject to investment risk, including possible delays in repayment and loss of income and principal invested. No member of ANZ National Bank Limited Group, ING Group, Guardian Trust Superannuation Trustees Limited, its parent and their respective directors or any other person guarantees or secures (either partially or fully) ING (NZ) Limited and its subsidiaries or the capital value or performance of the Scheme or any other products issued or managed by them.

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National Bank Personal Loan Debt Consolidation Calculator

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How much could you save if you combined all of your debts into one loan? Simply enter the details of your existing debts into the calculator below, and we’ll tell you how much you could save with a National Bank Personal Loan.

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This is an estimate only; it is provided for illustrative purposes only and is based on the accuracy of the information provided. It does not constitute a quote. The interest rate stated is the current rate applicable to National Bank Personal Loans and is subject to change. All applications for credit are subject to The National Bank’s normal lending approval criteria. Terms and conditions are available on application. A minimum loan amount of $3000 applies. Personal Loans cannot be used to repay an existing National Bank Personal Loan or to repay family and friends. Fees and charges apply. The National Bank, part of ANZ National Bank Limited.