NAB · rate lock
Holds the rate for 90 days.
NAB calls it the Rate Lock. The fee is 0.15% of the fixed loan amount, which is $900 on $600,000. Rounded to the nearest $10, charged to the loan at drawdown once every borrower has signed the Rate Lock agreement, and not charged if NAB declines the loan. If you settle inside 90 days you get the lower of the locked rate and the drawdown-day rate; outside 90 days the current rate applies and the fee is still payable. New fixed loans only, not re-fixing an existing one. The rate on the day NAB receives the completed agreement from every borrower, held for up to 90 days. We read NAB’s own page on 22 September 2026 and quote it below.
NAB’s own page on rate lockA percentage fee scales with the loan. Against it, what a quarter-point rise before settlement would cost over a three-year fixed term.
| Fixed loan | NAB lock fee | +0.25% for 3 years |
|---|---|---|
| $400,000 | $600 | $3,000 |
| $600,000 | $900 | $4,500 |
| $800,000 | $1,200 | $6,000 |
| $1,000,000 | $1,500 | $7,500 |
The right-hand column is the extra interest over three years if the fixed rate rose a quarter of a point between application and settlement and you hadn’t locked. It is the cost the lock insures against, not a prediction.
From the page we read, so you can check us.
NAB — Rate Lock
“The Rate Lock fee is calculated as 0.15% of the approved limit, set out in the loan contract and rounded to the nearest $10. Locking the interest rate of the day for up to 90 days from when the completed agreement has been received.”
Every lender we checked, on the same $600,000 loan.
0.15% of the fixed loan amount, so $900 on a $600,000 loan and $1,500 on $1,000,000. NAB's own page says: "The Rate Lock fee is calculated as 0.15% of the approved limit, set out in the loan contract and rounded to the nearest $10. Locking the interest rate of the day for up to 90 days from when the completed agreement has been received." Rounded to the nearest $10, charged to the loan at drawdown once every borrower has signed the Rate Lock agreement, and not charged if NAB declines the loan. If you settle inside 90 days you get the lower of the locked rate and the drawdown-day rate; outside 90 days the current rate applies and the fee is still payable. New fixed loans only, not re-fixing an existing one. Checked 22 September 2026.
90 days from the day the lock is applied. If the loan hasn't settled by then, the lock lapses and you settle at the fixed rate on the day, unless NAB agrees to extend it. Ask before you pay if your settlement is further out than that.
The rate on the day NAB receives the completed agreement from every borrower, held for up to 90 days. If fixed rates fall before settlement, ask whether you get the lower rate; most lenders pass it on, but the fee is not refunded.
On a $600,000 loan a 0.25 percentage point rise costs about $125 a month, or roughly $4,500 over a three-year fixed term. Against a fee of $900, one rate move between application and settlement covers it. It is worth it when settlement is weeks away and rates are expected to hold or rise; it isn't on a quick refinance when they are falling.
It depends on the loan size. The full table, with what each fee comes to on $600,000, is on the rate lock page.
Checked against NAB’s own page on 22 September 2026. Lenders change fees and lock periods without much warning; if something here doesn’t match what they’ve told you, theirs is right and we’d like to know. Arthr Pty Ltd provides marketing and lead-generation services only; credit assistance is provided by 1st Street Pty Ltd, Credit Representative 490057 under Australian Credit Licence 389328.
The lock fee only matters if the fixed rate is worth taking. The rate monitor shows where NAB’s rates sit against every lender on the panel, and a broker at 1st Street can tell you whether a package waives the fee.