So I decided to check my home loan variable interest rate with NAB and it was 6.08% - I then dug a little deeper and found as I was on a choice package and loan was over 250k it should have been 5.88%.
Rang NAB and they admitted they have been charging me the wrong rate - looks like for the last 3-4 years on a 330k IO loan. Waiting for them to get back to me. Any idea what happens from here? How much I'm looking at if say we base it on 48 months of 0.2% they have been charging me in excess? Do they give me a refund? How do they calculate the back interest?
On a side note rang ANZ and asked about switching = they instantly offered 0.9% discount to 5.7% for variable. Sound good?
Rang NAB and they admitted they have been charging me the wrong rate - looks like for the last 3-4 years on a 330k IO loan. Waiting for them to get back to me. Any idea what happens from here? How much I'm looking at if say we base it on 48 months of 0.2% they have been charging me in excess? Do they give me a refund? How do they calculate the back interest?
On a side note rang ANZ and asked about switching = they instantly offered 0.9% discount to 5.7% for variable. Sound good?