Big four bank NAB has today hiked fixed rates by 0.30 percentage points, just 14 days after the bank last lifted its fixed loans.
As a result, NAB’s lowest fixed rate is 6.34%, available for a 1-year term.
Changes to NAB’s lowest fixed rates | |||
|---|---|---|---|
Term | Old rate from | New rate from | Change %-pts |
1-year | 6.04% | 6.34% | +0.30 |
2-year | 6.09% | 6.39% | +0.30 |
3-year | 6.19% | 6.49% | +0.30 |
4-year | 6.19% | 6.49% | +0.30 |
5-year | 6.19% | 6.49% | +0.30 |
Source: Canstar - 10/04/2026. Rates based on owner-occupier fixed-rate loans. LVR requirements apply.
This move means NAB no longer offers the lowest fixed rate out of the majors, with that title now held by Westpac at 6.14% for a 2-year term.
Big four banks’ lowest fixed rates | ||||
|---|---|---|---|---|
CBA | Westpac | NAB | ANZ | |
1-year | 6.49% | 6.24% | 6.34% | 6.34% |
2-year | 6.34% | 6.14% | 6.39% | 6.39% |
3-year | 6.59% | 6.34% | 6.49% | 6.54% |
4-year | 6.64% | 6.54% | 6.49% | 6.54% |
5-year | 6.79% | 6.54% | 6.49% | 6.59% |
Source: Canstar.com.au. Rates based on owner-occupier fixed rate loans. LVR requirements apply.
Fixed rate hikes keep coming
Rate tracking by Canstar shows 74 lenders have hiked at least one fixed rate since the March RBA cash rate rise, with 38 lenders hiking since 1 April alone, including three of the big four banks – Westpac, ANZ and now NAB.
Lenders that have hiked at least one fixed rate since the last RBA decision (18 March onwards)
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Lowest fixed rates
Tracking by Canstar shows there are now just 29 lenders with at least one fixed rate under 6%. There were 83 at the start of this year.
The lowest fixed rate is now 5.49% from Northern Inland Credit Union for a 1-year term.
Lowest fixed rates | ||
|---|---|---|
Term | Lender | Lowest rate from |
1-yr | Northern Inland Credit Union | 5.49% |
2-yr | Bank Vic, Bank Orange, Defence Bank | 5.79% |
3-yr | BankVic | 5.79% |
4-yr | Defence Bank | 5.99% |
5-yr | Horizon Bank | 5.94% |
Source: Canstar. Rates based on owner occupier fixed rate loans. LVR requirements apply.
Rapid repricing is a warning shot
Canstar data insights director, Sally Tindall, says, “Fixed rates hikes are now starting to balloon as lenders push their prices into higher ground.”
“It seems few banks want to risk having to fund a competitively-priced fixed loan.
“NAB had been leading the majors with the lowest fixed rates of the big four, but this latest move sees the bank lose that competitive edge.
“Fixed rate hikes have been gaining momentum since late last year, and NAB’s back-to-back rises suggest this trend isn’t slowing down any time soon. Canstar analysis shows 38 lenders have moved rates in the past 10 days alone, with Westpac, ANZ and now NAB lifting fixed rates in quick succession.
“For borrowers, this kind of rapid repricing is a warning shot – the window for locking in a sharper fixed rate is narrowing by the day.
“Fixed rates under 6 per cent now have a target on their back, with just 29 lenders offering rates below this mark. This number could hit single digits when we reach the next RBA meeting in just over three weeks’ time.”
